Latest Unemployment News: More of the Same
The Department of Labor’s latest report on the unemployment situation in the U.S. shows little change from a week earlier, indicating that significant recovery in the jobs market has not yet taken hold. Here’s a look at some of the latest numbers (for the week ending July 17, published at the end of last week):
Seasonally [...]
Bankruptcy: BP’s Worst Case Scenario?
Six month ago, the idea of the oil giant BP going bankrupt was an unthinkable proposition. Now, although still difficult to imagine, isn’t so far-fetched.
Despite the improbability of a BP bankruptcy, there is a common question that people what been asking themselves: What does the worst case scenario for BP look like?
An article [...]
Look Out for More (Legal) Credit Card Fees
With the Credit CARD Act set to take full effect on August 22, many credit card issuers are reportedly already altering their policies to come into compliance with the law. And, because that law seriously limits some of the fees issuers can charge (including overdraft fees), many banks are also, according to this article, introducing [...]
How to Protect Your Social Security Number
In the computer age, one of the most frightening crimes is identity theft. Here’s a look at how you can protect your personal information to avoid the frustrations and financial setbacks associated with identity crimes.
What Is Identity Theft?
Identity theft occurs when someone uses another person’s identifying information to pose as that person. It can manifest [...]
Unemployment Benefit Extension Passed, Payments Could Take Several Weeks
Congress passed a six-month extension of emergency unemployment benefits, restoring a lifeline to nearly 3 million out of work Americans whose benefits have run out since June 2.
However, a processing delay could see many Americans waiting “several weeks” for their unemployment checks to arrive, according to the Washington Post.
The bill was passed by a vote [...]
The Worrisome Truth about Debt Collectors
There’s been some clamor in the news recently about some of the abuses in the debt collection industry. A recent article from CNN Money profiles ten people who used to work as debt collectors, and some of the behavior they attribute to their coworkers and companies is appalling:
Many former debt collectors were reportedly encouraged to [...]
Credit Card Delinquencies Down in First Quarter
As many people who have filed for bankruptcy know, one of the main causes of filing bankruptcy is unmanageable credit card debt. Often, a bankruptcy filing comes after months of missed payments.
Recent data from the American Bankers Association (ABA) shows that, as a nation, we’re improving our on-time payment rate for our credit cards. In [...]
Foreclosures Likely to Top One Million This Year
A recent report from National Public Radio notes that mortgage foreclosures are likely to reach the one million mark in 2010. To put this figure in context, consider these statistics, pulled from the real estate tracking site RealtyTrac.com:
In a typical year, the United States sees about 100,000 homes enter foreclosure—a mere tenth of the number [...]
Credit Scores in the U.S. at Record Lows
A recent report from the Associated Press notes that Americans’ credit scores have dropped to all-time lows, with 25.5 percent of the country scoring below 600. Here’s a closer look at that figure and what it might mean for future borrowing.
Credit Scores & Borrowing
When you apply for a loan, most lenders review your FICO credit [...]
Tips for Reducing Your Credit Card Bill Now
Anyone struggling with debt or trying to rebuild after a bankruptcy filing probably knows how challenging credit card bills can be: though the plastic rectangles themselves may be highly convenient, the monthly payments we make on them often are not.
And, with the economy tighter than the lid on a pickle jar, posts like this one [...]