Consumer Credit NewsNews and information about consumer credit, how to mangage it, and laws / proposed legislation impacting credit.Credit Card Minimum Payments to Double Over the Next Twelve Months- September 15, 2005 September 15, 2005 - If you are one of the 35 million Americans who only make minimum payments on your credit cards, you are going to be in for a rude surprise over the next year. The amount that you are going to be required to pay is going to double due to a little publicized federal lending rule that is about to go into effect. Unfortunately, most lenders dont want you to know about the payment increases until after October 15th. Thats the date that new federal bankruptcy laws go into effect.http://www.guardmycreditfile.org/index.php/content/view/499/50/ Boyajian Complaints Continue What You Can Do If You Are Harassed by Them- September 2, 2005 September 2, 2005 ACCESS continues to receive a number of complaints about Boyajian Law Offices and JBC. This firm is under investigation in at least 13 states, has lost its license to act as a collection agent in one other, and was recently turned down in its request for a collection license by the state of Connecticut. Consumers are obviously fed-up, but other than complaining to the FTC and their state attorney general, most have felt relatively helpless. Well, there may be something else...http://www.guardmycreditfile.org/index.php/content/view/495/90/ All US States Now Eligible for Free Credit Reports- September 1, 2005 September 1, 2005 As of today, residents of every state are eligible to receive their credit reports free of charge from the credit repositories (Experian, Equifax and Trans Union). These free credit reports were mandated by Congress with the passage of the Fair and Accurate Credit Transactions Act (FACTA) in late 2003. Under the law, eligibility to receive free reports was phased in nationally, from west to east.http://www.guardmycreditfile.org/index.php/content/view/494/50/ |