From my marina-side suite on exclusive Bald Head Island, I am encouraged at how reachable such seemingly out-of-reach destinations can really be. It is moments like this that I can really appreciate the financial savvy of my wife who uses various social discount tools to give us breathtaking getaways at bargain prices. 
Credit and Debt Blog
A Service of Debtors Unite, Inc.
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12
May 2012
Vacationing on a Discount Using Prepaid Coupons
Recent legislation bans the long abused practice of debt settlement companies charging huge upfront fees to clients who mostly never received the services promised to them. Instead of complying, many debt settlement companies are exploiting a loophole that allows them to continue cheating customers.
The ban on upfront fees does not apply to lawyers. A law firm who represents a debtor may charge an upfront fee for debt settlement services. Debt settlement companies are exploiting this exception by “partnering” with law firms to get around the advance fee ban.
(Mindy from Oklahoma) My credit report shows my payment history for 2 years for my credit card. Does this mean that it drops off my credit after 2 years?
Mindy, some credit reports will display your recent payments going back a couple of years on your credit report. Even so, your payment history is factored into your credit score for up to 7 years on that credit card.
26
Apr 2012
Can a collection agency garnish my pay?
(Jason from California) Can a collection agency garnish my pay?
(John from South Carolina) My interest rate just went up on my credit card even though I keep making the minimum payment. I heard that rates were going up, but mine went from 14% to 25%. Why did this happen?
26
Apr 2012
When a debt is sold can the new company get an additional 7 years to report on my credit report?
(Barbara from South Carolina) I have old accounts that have been transferred to or sold to other lenders. The date of last activity exceeds the 7 year FTC law. Does the new company get an additional 7 years to report on my credit report? If not, what do I do to resolve this?
(Kathy from Florida) How long does a foreclosure typically take in Florida?
(Ryan from Pennsylvania) Does it hurt my credit score if I close a credit card account?
29
Jan 2012
What if a Relative Steals my Identity?
(George from North Carolina)
I have just discovered approximately 14 credit cards taken out in my name by whom I suspect to be a loved one. The total debt comes to approximately $30,000. I certainly can not afford to pay these off nor make the scheduled payments. All are in default at this point, some sold to collection agencies and some still held by the original companies. Is there anything I can do to correct my credit. I do not want loved one arrested.
(Gary from Indiana) Is there a maximum time limit a creditor can attempt to collect a debt?
