Brent's Credit and Debt blog

The new bill stops that. Now, a debt has to be at least 60 days late before a company can raise your rates. This is a big boon to the consumer, and will cover simple mistakes. However, I would expect those rate increases to be bigger now, as the credit companies will be protecting against default more agressively.

One thing I can tell you is this: It isn’t going to last. Either you will cure the problem, or you will eventually just run out of credit problems. Either way, the problem will get solved.

Like any change to an existing business practice, this will have big implications for both the credit industry and the consumers of credit. I will be analyzing the impact of this bill over the next several days.

So you have credit problems. Sorry to hear that.

One thing I can tell you is this: It isn’t going to last. Either you will cure the problem, or you will eventually just run out of credit problems. Either way, the problem will get solved.

I found a great article at, of all places, a governement site. This article describes the problem with the debt repair industry, and why you should be doing things yourself, which I happen to really agree with.