Credit and Debt Blog
A Service of Debtors Unite, Inc.
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Congress dragged their feet once again on a proposal to extend the Alternative Minimum Tax patch. The purpose is to prevent middle class taxpayers from having to pay additional taxes originally levied on the wealthy.
Now, it appears that the IRS may need up to 7 weeks to reprogram their systems. This could delay tax refunds by up to a month. 
New York Attorney General Andrew Cuomo successfully settled with a debt collector accused of abusing debtors. National Action Financial Services (NAFS) of Williamsville, NY has agreed to pay $85,000 in penalties and costs.
Consumers who check prices online before shopping may find that many items are priced substantially higher in the store than online. Forget about EBay or other online retailers. Big box retailers sell the same merchandise on their own websites for cheaper than in their stores.
The quickest way out of credit card debt is to dramatically cut your interest rates. There is no other factor that matters as much as the rate in which your finance charges are compounded. So how do you eliminate credit card debt? Here’s how.
If you made a credit card purchase overseas, you may be eligible for a refund. As a result of a class action lawsuit filed against MasterCard, Visa and Diners Club, you may receive a refund of the 3% foreign currency conversion fee that was charged on those transactions.
In an interview with National Public Radio, former Fed Chief Alan Greenspan stated that “the odds are clearly rising” that the U.S. economy will enter a recession soon. Other economists share his views. There are many signs to back up his stance.
North Carolina’s State Employees’ Credit Union (SECU) has announced a new initiative to provide free income tax preparation. This will be available at all 217 branch locations statewide.
An expected rate cut of one-quarter percent was ordered by Federal Reserve Board Chairman Ben Bernanke. This drops the federal funds rate to 4.25 percent. It also represents a further attempt to stave off recession.
Some people will tell you that ARM stands for adjustable rate mortgage. The truth is that it is called an ARM because that is what you will pay, plus a leg, on an adjustable rate mortgage if you keep the loan for more than 2 years.
Senior citizens do not understand the option of placing a freeze on their credit profile. That is a conclusion of a recent study conducted by the American Association of Retired Persons (AARP) Public Policy Institute.
A total of 69 percent were unaware of credit freezes and how they work. For seniors looking to prevent identity theft, a credit freeze may be the best answer.
