Credit cards seem like a necessity these days. Don’t have the cash? Put it on credit! Unfortunately, that is the exact attitude that has gotten so many of us into trouble. As of 2009, there were over 576.4 million credit cards in circulation, according to the Nilson Report of February 2010. The average American is walking around with $8,000 in credit card debt.

At some point, your debt… Continue reading

Credit card offers fill up the mailboxes of many Americans. Companies are constantly trying to get you to open up new accounts and get sucked into the volatile credit industry; but, today, the credit card companies took marketing to another level. My two youngest children, Devyn (16) and Tyler (17) both received offers in the mail for a Southwest Rapid Rewards credit card from Chase. Continue reading

Are you thinking that a debt settlement office might be able to give you the best credit card debt help, relief from your creditors, and stop your debt from ruining your life? You aren’t alone. There are plenty of people in the St. Louis area that think debt settlement might just be the answer to their prayers. And who can blame them? Debt settlement commercials make promises that sound too good to be true, implying you’ll be able to really tell your creditors you aren’t paying your debt. Unfortunately, most things that sound too good to be true usually are. Continue reading

While the Credit CARD Act of 2009 was passed last year, the majority of the changes associated with it went into effect this past Monday. One of the biggest changes put forth by the bill is the new rules regarding marketing credit cards to students. Marketing to college students has been an ethical issue for big lenders like Bank of America, JP Morgan Chase, and Wells Fargo for years. Continue reading

New credit card laws originally put forth by the government in 2009 are just now going to affect most consumers. February 22nd is the date that most of the consumer protections (and profit cutting) begin. What consumer protections am I talking about? Here are the ones that I believe will affect Missouri and Illinois residents the most. Continue reading

Christmas is a great time for spending time with family and friends—and spending money on gifts for them. The cost of Christmas seems to only get bigger as the years go by. While credit card companies may have made it easier to spend more money, they’ve also made us dread the bills we get in January. So, for the sake of 2010, here are some tips on saving a few bucks that I’ve gathered after spending 15 holiday seasons working as a St. Louis Missouri and Illinois Bankruptcy attorney. Continue reading

There are now very few things you can’t pay for by the swipe of a card. Just recently, church offerings and Salvation Army donations joined the list. While at first it sounds like a new convenience, what is this change really saying about us?

Putting everything on a delayed payment plan has become a completely accepted practice. I’m sure it comes as no surprise that it’s getting people

The act is coming in waves—with the first having already started almost a month ago. The Credit Card Accountability, Responsibility, and Disclosure Act attempts to keep credit card companies from using those all too familiar tactics that credit card companies use to keep us paying the premium rates.

Credit card companies are limited on when they can raise their rates. It can only happen after a promotional rate… Continue reading

Recently, my insurance agent passed this on to me by email.  I see people every day that are at the end of their financial rope and come to be to learn how to file bankruptcy. I thought this story was very similar to what my clients need to keep in mind as they go through a difficult stretch in their life.

One day a young lady was… Continue reading

According to an article from ABC news, credit card companies will be heavily restricted in marketing student credit cards on college campuses in Illinois. Governor Quinn signed the new piece of legislation on Tuesday. The law will restrict credit card companies from giving out free gifts to encourage students to apply for the card. It also states that any