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.

Finally, I got smart. There is a law, Called the Fair Debt Collection Practices Act, or FDCPA, that regulates how debt collectors are allowed to contact you, including how often, where they can call, and what they can say.

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.

They are easy to hate, aren’t they?

They call you and demand money for something you couldn’t pay for in the first place. They try to help you ‘find’ money by taking out additional loans, or by borrowing from family. They want you to make payments. They are even willing to waive the interest they charged you.

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.

When you have a credit card, there are times you may slip up and charge a bit too much. You think ‘Well, it is just a couple of bucks. I’ll make a payment and everything will be fine’. But is it fine? Really?
No, no, no! Going over your limit is a serious ding on your credit scores!

I talk to a lot of people that are in the credit repair game for the wrong reason. They are looking for MORE credit, a new car, a new house, or the ability to carry that shiny gold card. However, they have yet to fix the problem that got them in trouble in the first place.

I see a lot of ads for ’30 Day Credit Repair’ or ‘Credit Repair Fast’. The ads are on the radio, on the internet, and I wouldn’t be surprised if they show up in your mail box.
Can they really fix your credit in 30 days?

Your life is already tough. Going through a divorce is one of the hardest things you will ever do. It touches every part of your life, and you need to protect yourself while going through it.

Your life is already tough. Going through a divorce is one of the hardest things you will ever do. It touches every part of your life, and you need to protect yourself while going through it.

Remember, it is you taking care of yourself now. You HAVE to stop thinking about things as a member of a couple, and start thinking about things as a single person again.

Debt collection companies are serious about finding you. They pull out the stops to try to make sure they can get your money.

The first couple of entries are already on YouTube, and you can see them here:

n Tip 1, I am asking you to start managing your money. This is critical! You are starting fresh, and it is very easy right now to damage your credit.
I have posted a video series to the MyCredEd YouTube channel discussing how you can protect your credit during divorce. Remember, your divorce will be over soon, but the effects of a credit problem can last years longer!

Debt collection companies are serious about finding you. They pull out the stops to try to make sure they can get your money.

The first couple of entries are already on YouTube, and you can see them here: