Great news! Soon, the majority of Americans will have free access to their credit score. This is a major victory for consumers, a decade or more in the making. It means that they will be able to take action to improve it in readiness for something important like applying for [Keep reading]
A text-message spam campaign that flooded mobile phones and irritated perhaps millions of iPhone users last summer reared its ugly head again towards the end of 2014. The messages offer recipients a cheap way to order designer products like handbags and sunglasses, which can be done more easily and affordably [Keep reading]
It’s lovely that the now-famous British couple who made the mistake of having their preemie baby born in the U.S. won’t have to pay their potential $200,000 in medical bills. If they were in Europe though, having a European Health Insurance Card for their baby could have made such a difference. [Keep reading]
Are you getting collection calls and wish there was an easier way to handle the problem? Here’s a guide to dealing with a debt collector … using the least effort possible. DON’T ignore bills, letters and threats thinking that collectors will just forget about the money, or that the firm [Keep reading]
Here’s a great New Year’s resolution for you: Stop donating money to cable companies. Because I promise you, their resolution is to take more money from you. Cable will keep downloading increased piles of money from lazy consumers this year, but there’s good news: its stranglehold is starting to slip [Keep reading]
It’s a tricky practice from inside an industry that often mystifies consumers. Consumer groups have called it “debt laundering.” Debt collectors call it “withdrawal.” The strategy is simple, but troubling: If at first you don’t succeed at collecting on a debt, try, try again – by sending it to [Keep reading]
If 2014 was the year of the credit card hack, what will 2015 be? Here’s an early look at candidates — the scams, hacks and hiccups that could trip up the most consumers next year. 1. Hacked Kitchen Appliances and the Internet of Things Even as our cellphones get bigger, technology [Keep reading]
Doing some research for a larger story about the “damage points” associated with having a credit-related boo-boo, I stumbled on this important factoid: A consumer with excellent credit who maxes out a credit card will see a credit score drop of 25 to 45 points. In other words, someone with a superb 780 score [Keep reading]
We’ve long suspected, but now we know: A large part of America’s personal debt problem is medical debt. About half of the unpaid debt entries in credit reports are related to medical bills. Getting sick can ruin a household, leading to pock-marked credit reports, trouble with other borrowing, and eventually [Keep reading]
Wireless giant Sprint enabled hidden-fee abuse of its customers for nearly a decade, the Consumer Financial Protection Bureau alleged on Wednesday. Sprint allowed third-party firms to “cram” unwanted services onto consumer bills, and kept about one-third of the proceeds for itself, the CFPB said. In other words, Sprint was complicit [Keep reading]
Bob Sullivan