Cash Vanishes from Small-Biz Accounts

posted: 201 DAYS 23 HOURS AGO

filed under: Banking, Checking Account, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Loans, Recession, Savings Account

Small-business owners and entrepreneurs are fuming as credit-card processors, desperate to turn the tide of red ink and avoid their own bankruptcies, have begun demanding cash reservers from their customers -- and, in some cases, seizing cash from their cardholders' bank accounts. For a small business, the effects of such actions could be dire, even fatal. Read on to learn about a new threat to small business.

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Big Fees+Closed Account = Bad Credit Score?

posted: 205 DAYS 2 HOURS AGO

filed under: Credit, Credit Cards, Credit Reports, Credit Score, Debt, Beat Debt

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How to React to a 'Rate-Jack' Attack

posted: 205 DAYS 3 HOURS AGO

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Recession

Your credit-card company just pumped up your interest rate. It's no surprise you're angry, especially if you've actually been diligent about paying your bill on time and without maxing your card out. But check the fine print -- terms can change "at any time, for any reason." And there's no reason that resonates quite like the one-two punch of today's credit-crunch and default explosion. Fortunately, you do have options. Here's how to plan and execute an effective response.

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Credit-Card Crackdown: 8 Key Issues

posted: 205 DAYS 4 HOURS AGO

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Loans, Personal Loans, Recession

AFP / Getty Images

President Obama this week called 14 top banking executives to the White House to announce he would support legislation protecting cardholders from abrupt interest-rate increases and fees, among other practices. Card issuers are fighting two cardholder-protection bills circulating on Capitol Hill -- one was cleared on Wednesday for a House vote, and another will be examined next week in the Senate. Read on to see how the U.S. is trying to change eight controversial card-company practices.

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Don't Pay Dismissed Debt

posted: 208 DAYS 1 HOUR AGO

filed under: Credit, Credit Cards, Credit Reports, Credit Score, Debt, Fraud

Can a collection agency legitimately compel you to pay back a debt that was discharged in a bankruptcy decades earlier? Or is that the sign of a shady agency, trying to pull a fast one by preying on your guilt and lack of legal expertise? The Bankruptcy Adviser knows the difference. Read on for his answers.

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10 Credit-Report Myths -- Busted!

posted: 209 DAYS 3 HOURS AGO

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt

As today's lending requirements remain tight, credit is harder to come by, and it's tough to get an above-average credit score. So it's crucial that you know what's true about your credit report, and what isn't. Especially because what you believe can hurt you if it's not true. Read on to lean about the 10 most common misconceptions -- and the truth behind them.

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Obama Cracks Down on Credit Card Abuse

posted: 209 DAYS 5 HOURS AGO

President Obama and his top economic adviser, Lawrence Summers, want to crack down on abusive credit card practices, like surprise rate hikes and misleading marketing.

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Struggling to Pay Debts? Tell Your Lenders

posted: 209 DAYS 4 HOURS AGO

filed under: Banking, Credit, Credit Cards, Credit Reports, Credit Score, Debt, Beat Debt, Loans, Personal Loans, Recession

Will credit-card issuers respond to a request for lenience from someone suffering through the recession and struggling to make payments? Or is a credit counselor a better option? For some frank answers (and, possibly, some good news), read on.

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Should You Pay Your Taxes by Plastic?

posted: 216 DAYS 3 HOURS AGO

filed under: Credit, Credit Cards, Credit Reports, Credit Score, Debt, Online Taxes, Taxes, Tax Advice, Tax Basics

It may sound like a desperate choice, unless you're truly desperate: paying Uncle Sam by credit card. The I.R.S. allows this option, and you'll even earn your usual rewards for doing it. But be careful -- if you don't need to take on additional debt to cover your tax bill, the strategy is about as unwise as it is unappealing. Read on to learn more.

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