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About the writer: This guest post was written by Garrett Driscoll from Debt Eagle.   Give Garrett a visit if you need help with credit card debt, debt management, or bankruptcy.

Debt Settlement world has been under scrutiny

The debt settlement industry has been under a mountain of scrutiny as the U.S. economy continues to slump. Consumers have been acquiring more debt as job losses rise and often turn to credit cards in order to pay the bills. Recently a flood of television, radio, and internet advertising has poured into the airwaves from debt companies that promise an easy fix for very complicated debt problems. Complaints about these companies to the BBB have grown and many consumers have gotten into serious financial trouble as a result of working with them. The New York Senator Charles Schumer is looking to change this with the 2010 “Debt Settlement Consumer Protection Act“. This act, as a part of the Obama administration’s overhaul of financial laws, should go into action on October 12, 2010. It will serve to fight predatory debt settlement companies that take advantage of this now booming market. Even though the debt industry is a magnet for bad business practices, not all debt settlement companies are predatory (Some even have triple A ratings from the BBB). There are still a good number that want to do good business and try to help their customers. Are these harsh new laws going to wipe out ethical debt companies as well? [click to continue…]

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The book “Aftershock” by Weidemer, Weidemer and Spitzer documents economic predictions by people who should have known better but didn’t. Here is a sampling:

  • Prediction: “A very powerful and durable rally is in the works. But it may need another couple of days to lift off. Hold the fort and keep the faith!” Richard Band, editor Profitable Investing Newsletter, March 27, 2008.

What actually happened: At the time of Band’s comment, the Dow Jones industrial average was 12,300. By December, 2008 it was at 8,500. [click to continue…]

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Five Upcoming Tax Hikes and What They Mean to You

April 19, 2010

photo credit: alancleaver_2000 I know. Tax season just concluded and the last thing you want to hear about is taxes. I understand, but think of it this way – right now, while this stuff is fresh in your mind, is the best time to start considering what the future holds. So…are you ready?  Take a [...]

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The New Health Care Bill: A Prescription for Diminished Health Care

March 31, 2010

photo credit: Brett L. Allow me to preface this post by referring you to some other great posts on the health care legislation.  The Amateur Financier gives a balanced look at the legislation and what it means to us.  Other bloggers who have weighed in are Financial Samurai who is in favor,  Darwin of Darwin’s [...]

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Four Ways to Cope With Rising Gasoline Prices

March 29, 2010

photo credit: goodrob13 It is starting again. According to CNN Money, gas prices are up 45% from last March and still rising. Prices may not reach the record high of $4.114 per gallon as reported by AAA on July 17, 2008, but people are nevertheless rumbling, “Gas prices are rising through the ceiling and there [...]

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Credit Card Marketing Banned on Illinois College Campuses

August 17, 2009

photo credit: Andres Rueda Also banned: Selling of students’ personal information I applaud the Illinois lawmakers and Governor Pat Quinn for passing legislation which bans the gimmicky marketing of credit cards to college students. The bill, which won’t take effect until January, could impose fines on colleges and universities if they allow credit card companies [...]

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CASH FOR CLUNKERS: IS IT FOR YOU?

July 16, 2009

photo credit: Matti Mattila President Obama recently signed into law the “Cash for Clunkers” legislation, a bill intended to boost the sagging auto industry while rewarding people for purchasing more fuel efficient vehicles. Here is how it works: you trade in your old car (it must be less than 25 years old, drivable and get [...]

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