Credit And Debt Tips For Consumers
Free helpful financial information on credit cards, debts, loans, credit scores and repairing bad credit.

• FHA Help For Home Owners Program
  The HOPE for Homeowners or H4H program was created by Congress to help those at risk of default and foreclosure refinance into more affordable, sustainable loans. H4H is an additional mortgage option designed to keep borrowers in their homes.
• Getting Business Credit
  Whether you are planning to start your own business or expand the one you own, you may be in the market for credit.
• Beware Of High Fee Mortgage Refinancing Rates
  If you're refinancing your mortgage or applying for a home equity installment loan, you should know about the Home Ownership and Equity Protection Act of 1994. The law addresses certain deceptive and unfair practices in home equity lending.
• Bad Credit Can Affect Your Abilty To Get A Job
  Bad credit can affect your ability to get more credit, but did you know it also can affect your ability to get or keep a job? Employers often use a credit report when they hire and evaluate employees for promotion, reassignment, or retention.
• Beware Of Loans Scams That Charge Upfront Fees
  Advance fee loan sharks are preying on unwary consumers, taking their money for the promise of a loan or credit, and leaving them in hot water. The scam artists often impersonate legitimate lenders to entice consumers into falling for their bogus offer.
• If Your Mortgage Lender Files For Bankruptcy
  When a mortgage company closes or files for bankruptcy, its customers may be left wondering about the impact on their own loans. The Federal Trade Commission (FTC) says consumers should continue to make their mortgage payments as usual.
• Debt Management Plans
  Reputable credit counseling organizations employ counselors who are certified and trained in consumer credit, money and debt management, and budgeting. Those organizations that are nonprofit have a legal obligation to provide education and counseling.
• How To Choose A Credit Counselor
  Most credit counselors offer services through local offices, the Internet, or on the telephone. If possible, find an organization that offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service operate nonprofit credit counseling programs.
• Counseling And Education Requirements Before Claiming Bankruptcy
  The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 launched a new era: With limited exceptions, people who plan to file for bankruptcy protection must get credit counseling from a government approved organization within 180 days before they file. They also must complete a debtor education course to have their debts discharged.
• Wage Garnishment Laws
  The wage garnishment provisions of the Consumer Credit Protection Act protect employees from discharge by their employers because their wages have been garnished for any one debt, and it limits the amount of an employee's earnings that may be garnished in any one week.
• Bad Check Laws
  If you write a bad check, you should be aware that writing fraudulent checks can come with both civil and criminal penalties.
• FHA Home Loans Available With Bad Credit
  Explains the different types of FHA Home loans available for good and bad credit.
• Benefits Of A Bad Credit FHA Mortgage Loan
  There are lots of good reasons to choose an FHA bad credit mortgage loan, especially if one or more of the following apply to you: You're a first-time homebuyer. You don't have a lot of money to put down on a house. You want to keep your monthly payments as low as possible. You are worried about your monthly payments going up. You are worried about qualifying for a loan. You don't have perfect credit. You are worried about what will happen if you fall behind on your payments.
• Beware Of Illegal Mortgage Referral Fees
  To protect consumers from illegal mortgage referral fees, RESPA was enacted by Congress. They felt that consumers needed protection from unnecessarily high settlement charges caused by certain abusive practices that have developed in some areas of the country.
• Foreclosure And Mortgage Relief For Military Personnel
  Reservists, Guardsmen and Other Military Personnel should be aware that there is mortgage payment relief and protection from foreclosure provided by the Service members Civil Relief Act.
• FHA Mortgage Loan With Bad Credit
  If you have a bad credit history, a FHA mortgage might be the way to go for your home loan and get a low fixed interest rate. Every year FHA helps thousands of first-time home buyers just like you move into the house of their dreams. A home is an investment, it can save you money and it's a place to live and raise children.
• Credit If Your Spouse Dies
  Under the ECOA, a creditor cannot automatically close or change the terms of a joint account solely because of the death of your spouse. A creditor may ask you to update your application or reapply.
• Credit For People Over The Age Of 62
  Credit is a very important money management tool for both young and older consumers. Yet the elderly, particularly older women, may find it difficult to get credit. If you are a older consumer who has paid with cash all your life, you may find it difficult to open a credit account.
• Preventing Overdrafts And Bounced Check Fees
  When you write a check, withdraw money from an ATM, use your debit card to make a purchase, or make an automatic bill payment or other electronic payment for more than the amount in your checking account, you overdraw your account. Your bank has the choice to either pay the amount or not. If it pays even though you do not have the money in your account, you may be charged an overdraft fee. If your bank returns your check without paying it, you may be charged a bounced check or non sufficient funds fee. In addition to the fee your bank charges you, the person or company that you wrote the check to may charge you a returned check fee.
• Cosigner Obligations On Loans And Credit Cards
  If a friend or relative asked you to cosign on a loan, make sure you understand what cosigning involves. Chances are that you are being asked to cosign for someone with bad credit. Using you good credit history to cosign and not knowing what is involved, can lead to a negative credit impact.
• Refinance A Mortgage In Default With The FHA
  If you have a current mortgage and are in default on your loan or it is about to reset, then is important to know that the Federal Housing Administration is now offering to help Americans with a program called FHASecure.
• Establishing A New Identification To Erase Bad Credit Is A Bad Idea
  There is a credit repair scheme targeted to people with bad credit called file segregation, in which a consumer is promised a chance to hide bad credit information by establishing a new credit identification. This may sound good if you have been denied credit because of a past bankruptcy or past credit problems, but file segregation is illegal. If you use it, you could face fines or even a prison sentence.
• Protecting Yourself Against Predatory Lenders
  Tips and advice on protecting yourself from predatory lending practices.
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