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Entries from November 2008

Can’t Pay for that Tchotchke You’ve Just Won on Ebay? Finance it!

May 16th, 2008 · No Comments

The Wall Street Journal is reporting today that Internet auction site eBay Inc. is going to start offering financing to customers would can’t afford to pay for items they’ve purchased on eBay. The financing would be provided with credit issued by General Electric Co.’s consumer-credit arm.
Is eBay really hurting that much - or […]

Popularity: 16% [?]

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Tags: Consumer Debt

Keep Your SSN Card Under Lock and Key!

May 16th, 2008 · 1 Comment

From the discussion boards today…can’t add much since this poster said it all.
“I work in Loss Prevention for a sizable retailer. Today, I get a call that a lady believes her wallet was stolen. Now, usually it’s they’ve misplaced it, such as leaving it in their car, so I just rolled my eyes and […]

Popularity: 17% [?]

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Tags: Identity Theft

Sallie Mae Makes Huge Blunder on Student Loan Reporting - Credit Scores Plunge

May 15th, 2008 · 4 Comments

This post was made on our discussion boards last week by one of our mods, Amerikaner:
“I get an E-mail from Equifax Score Watch. There has been a change to an existing account, and my score has entered a new score band. I’m sitting at 665, so I think one of my CCS has reported […]

Popularity: 16% [?]

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Tags: Consumer Debt

I love it when Collection Agencies hire crappy lawyers

May 15th, 2008 · 3 Comments

A client of mine was sued, and did the proper thing, answered the complaint immediately. Well, now the lawyers for a major Junk Debt Buyer in the Collection Industry whom I’ll just call JDB Collections for this post. I even recognized the law firm representing JBD Collections, who handles most of their cases. […]

Popularity: 22% [?]

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Tags: Credit Counselor Front Lines · I'm being sued!

Auto shoppers beware!

May 14th, 2008 · 1 Comment

Auto shoppers beware! This woman went at looked at cars at the VW Porsche Dealership in Corpus Christi with her son and the dealership used her credit to apply to numerous loans without her permission. Apparently, VW is pulling out of this dealership as a result of this video on You Tube. […]

Popularity: 10% [?]

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Tags: Consumer Debt

Class action lawsuit settled against First Premier by NY Attorney General

May 14th, 2008 · 5 Comments

Think the “stimulus package” checks are sweet? One board member just got a check for $750 from a class action lawsuit filed against First Premiere Bank, a sub-prime credit card company.
Link to Discussion.
Usually checks from class action lawsuits net you around $30 - sometimes not worth the paperwork you have to fill […]

Popularity: 10% [?]

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Tags: Credit Cards

The Over-Emphasis on Credit Report Inquires

May 13th, 2008 · 9 Comments

Frequently, when doing credit counseling, I look at a credit report which is full of pot holes: collections, late pays and charge-offs. Sadly, the initial focus of the client is on removing inquires.
Sure, the removal of inquiries is pretty easy. But it will have a pretty small effect on the […]

Popularity: 20% [?]

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Tags: Credit Reports

How many points will my credit score go down with a foreclosure?

May 12th, 2008 · No Comments

Since foreclosure rates are going through the roof, I am getting this question a lot lately. If you are faced with this situation, you’ll probably want to know how big a hit your credit is going to take.
My typical answer to all things score related is “if I knew the answer, I’d […]

Popularity: 10% [?]

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Tags: Credit Reports

Walmart angling for your stimulus check

May 10th, 2008 · 1 Comment

Did you know that Wal-mart charges its own employees a fee to cash its own paychecks? Well, its true and it only point out how poorly Wal-mart pays - otherwise the staff would no doubt have savings and checking accounts and have no need to pay a fee to cash a check. It’s […]

Popularity: 5% [?]

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Tags: Consumer Debt

Good Credit is Sexy in the News!

May 9th, 2008 · No Comments

I made the news!
Link to the News Story on Channel 9 Oklahoma City News
Popularity: 4% [?]

Popularity: 4% [?]

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Tags: Consumer Debt