Credit card companies are increasingly forgiving borrower’s debts or are working with consumers to pay their debts in anticipation of record credit card defaults in 2009, reports The New York Times (“Credit Card Companies Willing to Deal Over Debt,” Jan. 3, 2009). (more…)

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Knowing how your FICO score works is just the first step in learning how to improve your score. These five tips for healthy credit management may help you improve your score, whether it’s a low 300 or a mid-range 450, to an ideal 700 or a near perfect 800: (more…)

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When you’re deeply in debt, it’s easy to become so overwhelmed by your financial mess that you start to go into denial about just how much you owe: You stop looking at your credit card and bank statements, you don’t answer the phone anymore so you don’t have to deal with debt collectors, you leave your bills unopened because you know (more…)

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The seventh and last defendant implicated in the Federal Trade Commission‘s largest case of credit counseling fraud has pleaded guilty to deceiving consumers who paid a for-profit company that was acting as a nonprofit organization for credit counseling services, according to a Newsday.com article (“Last Defendant Pleads Guilty in Credit Card Debt Scam,” Sept. 13, 2008). (more…)

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