Tips, News and Advice from Credit Card Assist

Credit Card Debt & Consolidation Tips and Advice

In our “Debt & Consolidation” blog section, we take a close look at the causes and conditions of credit card debt and debt consolidation and steps that consumers can take to avoid it. With stories and news about credit card debt as well as tips, advice and recommendations on how to climb out of debt and, more importantly, how to avoid it altogether. Here at Credit Card Assist, we outline all of the very best debt reduction ideas and strategies for consumers hoping to avoid all of the trouble that can come with too much debt.

Senator Schumer Encourages Support of Low Interest Rate Student Loans

April 17, 2012

On July 1, students currently in college or about to begin college could see a serious rate increase when it comes to student loans. One senator, though, is hoping to keep that from happening. A new bill by Democratic Senator Charles Schumer would keep the interest rate on federally subsidized Stafford loans to a rate [...]

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Loan Mistakes Medical Professionals Often Make

April 17, 2012

Many small business owners make mistakes when they take out a loan, but it’s rare that individuals think of the mistakes doctors might make if they take out a loan. These days, borrowing is fairly typically for medical practices. Whether they’re looking for new equipment or a new office location, doctors often have to find [...]

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What Are The Best Cards To Apply for After Bankruptcy?

April 16, 2012
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Bankruptcy can negatively impact every aspect of your life, but it has a particularly terrible effect on your credit score. A declaration of bankruptcy can sink your credit rating by as much as 220 points for seven years or more. That’s enough to take a “good” score down to “poor,” which means that you won’t [...]

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Tips and Advice for Handling Credit Card Lawsuits

April 12, 2012

Credit card lawsuits are becoming more and more common. This is because the big banks are selling their credit cards debts to collection agencies for as little as $0.018 on the dollar. The banks make no guarantees or warranties about the accuracy or completeness of their debt records. This lack of record keeping on the [...]

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Consumers Paying Auto Loans First Before Mortgages and Credit Cards

April 12, 2012

When a consumer is in financial crisis, paying the auto loan has taken on supreme importance. The mortgage used to be paid first, but it has been relegated to third, behind auto loans and credit cards. A new study by Transunion reveals consumers place a high value on being up to date on their auto [...]

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Debt Collection Quality Control Problem Continues to Grow at Big Banks

April 12, 2012

According to American Banker, Bank of America has been selling the rights to its credit cards debts to collections agencies even after it had noted that some of the debt was potentially inaccurate or already paid. Bank of America is not alone, as just a few weeks early JPMorgan Chase was accused of similar practices. [...]

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Federal Reserve Shows Revolving Consumer Debt Continuing to Drop

April 10, 2012

The Fed’s monthly G.19 report demonstrated a continued drop in credit card balances in March. In fact, the report showed a drop of 3.3% for the second month in a row. In February, the revolving debt in the monthly G.19 report had shown a drop of $2.2 billion, a number that challenged expert’s expectations.

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4 Reasons Why Consumer Debt Is an Investment for Idiots

April 6, 2012
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If you’re looking for a quick way to make a few bucks this season, don’t be seduced by the idea of collecting credit card payments like you’re some kind of Internet loan shark. Before you start scratching your head, read on. Recently, companies like The Lending Club and Prosper have started offering enterprising consumers the [...]

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New Data Suggests Mortgages Get Paid Only After the Credit Card Bills

April 3, 2012

There was once a method to the way consumers who were about to default paid their bills. Often they defaulted on their credit cards initially, then they moved on to the loans on their cars. The last thing they typically defaulted on when funds became scarce were their mortgages. These days, though, things have changed [...]

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How One Payday Loan Company Condemned the Entire Industry

March 9, 2012
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If you think the 25% APR on your credit card is bad, you should try getting a payday loan. These wicked little cash advances are nothing more than legalized loan sharking. The companies that offer them market their services as a way for desperate consumers to get a small amount of money in a hurry [...]

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