A father and son duo from Ohio, whose credit card debt relief scheme caused consumers to lose more than $2 million, have been sentenced to the maximum federal prison terms offered as part of their plea bargain (more…)

Popularity: 8% [?]

If you’re facing eviction or foreclosure or if you’ve already been evicted or lost your home to foreclosure, you’re not alone, and you could soon get government aid thanks to a new program created under the American Recovery and Reinvestment Act. (more…)

Popularity: 5% [?]

Americans may want to mark Feb. 14 on their calendars for a reason besides Valentine’s Day; it’s the last day consumers will be able to access their FICO credit scores on myFICO.com with Experian credit data included, The New York Times reports (more…)

Popularity: 7% [?]

A recent report from the U.S. Commerce Department shows that recent changes in consumer spending and saving habits — a decline in household debt and a rise in household savings — may become the behavioral norm for American consumers. (more…)

Popularity: 5% [?]

Hoping to offer lenders a more effective way of predicting which consumers are likely to default on their accounts, the Fair Isaac Corporation, has revamped the 20-year-old formula it uses to determine a consumer’s FICO score — the credit score most lenders use to determine who can qualify for a loan or new line of credit. (more…)

Popularity: 4% [?]

In an attempt to increase the availability of credit for homebuying and to reduce borrowing costs, the Federal Reserve has begun buying troubled mortgage-backed securities as part of an initiative the central bank originally announced in November (more…)

Popularity: 4% [?]

Homeowners in the United States are on track to see over $2 trillion in home values disappear by year’s end now that one in seven, or 11.7 million, homeowners are currently “under water,” owing more on their mortgages than their homes are worth, according to a report released by real estate website Zillow.com. (more…)

Popularity: 4% [?]

A new study conducted by a British professor at the University of Warwick indicates that the amount a person pays toward their credit card bill is significantly influenced by the bill’s suggested minimum payment, causing consumers who typically only pay a portion of their bill to hold on to their debts longer and pay more overall (more…)

Popularity: 7% [?]

The Florida attorney general has reached a settlement with a Florida lawyer accused of defrauding thousands of consumers in a debt relief scheme, according to a report by NBC 6 (“Judge Bars Lawyer From Doing Debt Consolidation Work,” Nov. 25, 2008). (more…)

Popularity: 5% [?]

The number of people claiming unemployment benefits climbed to a 16-year high, according to this week’s numbers from the Labor Department, further cementing fears that the jobless rate could jump from its current 6.5 percent to nearly 8 percent next year (more…)

Popularity: 5% [?]