FTC Files Contempt Charges Against Marketer of Credit Repair, Debt Relief, Food Stamp Services

The Federal Trade Commission has filed contempt charges against a promoter of credit repair and debt relief services and three of his companies, alleging that they continued their deceptive marketing practices in violation of a federal court order. The FTC charged that the defendants tried to take advantage of financially strapped consumers by falsely telling them that almost anyone can qualify for food stamps, and by encouraging them to mislead the government about their finances to qualify for the food stamp program.

As part of the FTC’s ongoing efforts to protect consumers in financial distress, the agency seeks to ban the defendants from selling credit repair, debt relief, or government-related goods or services, and make them pay compensation to consumers.

The FTC charged that Sam Tarad Sky, Allrepco LLC, Credit Restoration Brokers LLC (CRB), and Debt Negotiations Associates LLC (DNA) violated the terms of a March 2010 court order that resolved charges that the defendants deceptively marketed credit repair and debt relief services, and illegally charged an up-front fee for credit repair services. T

Read more…

I recently embarked on fixing up the old house. I have blogged a bit about it. The one thing I found that I was and am constantly going back and forth to a couple of different hardware store picking up big items and little items. All sorts of items I think I need. Like any hack handyman I end buying lots of things I just dont need and have to return.

What I have done is taken a larger size plastic freezer baggie, put it in a drawer that I walk by every time I come home and put my receipts in it. I probably have a entire receipt printer spool saved up in my bag from all of the trips I have been making lately.

 Now when I have to return something I just sort through the bag and find the receipt I need and off the hardware store I go.

Read more…

Many times you may set out to repair your credit using the method of disputing to the credit bureaus alone. While this may work a majority of the time, there is a percentage that remains unaffected by this. Another alternative to repairing your credit- permanently is to do it through an accord and satisfaction also known as a restrictive endorsement and validation of debt.

How it works When you have a charge off or collection account and it has been verified as accurate from the credit bureau, that is telling you that the credit bureau has questioned the item to the source which is usually the creditor or collection agency. They have replied back that the negative account is accurately listed. Once that has taken place you are usually at a dead end to repair your credit but… you can try to do two things. O

Read more…

Ever since debit cards came into existence I have been a steady user as opposed to using a credit card. I even went a long time with having one credit card that I only ever used for emergency situations only. I would pull my debit card out at every retailer I would visit and never use cash. I can remember long periods of time never even carrying cash with me for that matter.

I recently started to rethink my position after reading a credit card article. What benefit is there to me the consumer by using a debit card as opposed to a credit card? There are no benefits that I can think of.

Maybe one benefit would be that the money is taken out of my account that second so I can gage how much money I have within my budget and stay within it.

Read more…

Several major banks, including most of those deemed “too big to fail,” are set to raise their dividends and announce large stock repurchases after passing the latest Federal Reserve “stress test.”

Banks and financial institutions that have repaid their government bailout TARP funds and passed the stress test have been given the go-ahead by the Federal Reserve to make new capital-based decisions such as increasing their dividend payouts or doing share buybacks.

Shortly after the Fed’s announcement, the financial sector came alive with press releases about how the banking stocks would take advantage of the new allowances.

J.P. Morgan announced both a higher dividend and a share buyback, for example.

Banks Raising Dividends After Drastic Cuts

During the height of the banking crisis, most banks and financial stocks were forced to cut their dividends to minimal levels, or even to zero. Eliminati

Read more…

With the difficulty in the housing market, and an increasing number of foreclosures, many people are looking for help with their mortgage payments. For many people their 401k account is their largest untapped resource of funds. Unfortunately, using your 401k for mortgage payments or other reasons can be tricky, and expensive.

401k Withdrawal for Mortgages

Most 401k plans do not allow current employees to withdraw funds from their current 401k. There are two major exceptions.

Remember that all 401k plans are governed by their own specific rules as specified in their plan document. The features described below are allowed, but not required, by IRS rules.

Read more…