Gerri Detweiler's Consumer Alerts

Talk Credit Radio: Debt Scams to Watch Out For

2011-07-14T19:12:00.000-07:00

If you're behind on your mortgage, watch out for the mass joinder scam. It could cost you your home! And does credit counseling really work? Steve Rhode joins Talk Credit Radio's Gerri Detweiler to share important warnings for anyone struggling with debt. Listen or download episode:

Talk Credit Radio: How Do Mortgage Rate Locks Work?

2011-07-14T14:14:00.000-07:00

How do mortgage rate locks work? ArcLoan.com's Joe Kelly joins Gerri Detweiler on Talk Credit Radio to explain what a rate lock is, and when you should consider one. Listen or download episode:

Talk Credit Radio: Free Checking Account Traps

2011-07-13T18:16:00.000-07:00

Why is it so hard to find a truly free checking account? Talk Credit Radio's Gerri Detweiler shares the results of two research studies that reveal the truth about free checking accounts. Listen or download episode:

Talk Credit Radio: A World Without Subprime?

2011-07-13T12:18:00.000-07:00

What happens when payday loans and other high cost loans go away? Credit.com's Chris Maag joins Talk Credit Radio to delve into the idea of a world without subprime. It's more complicated than you may think! Listen or download episode:

Talk Credit Radio: How to Get A Low Rate Mortgage

2011-07-12T14:25:00.000-07:00

Mortgage rates are great...what does it take to get that low rate? ArcLoan.com's Joe Kelly explains how to take advantage of this great market. Listen or download episode:

Talk Credit Radio: How to Stop Spam

2011-07-06T08:40:00.000-07:00

Researchers at the University of California, San Diego, have found a way to significantly cut down on spam. But will anyone listen? Learn about their research findings as Chris Kanich joins Talk Credit Radio. Listen or download episode:

Talk Credit Radio: No Equity? You Can Still Refi!

2011-06-14T12:00:00.000-07:00

If your home or investment property has lost value, you may still be able to refinance at current market rates under a special government sponsored program. Talk Credit Radio host Gerri Detweiler gets all the details from ArcLoan.com's Joe Kelly. Listen or download episode:

Talk Credit Radio: Find the Perfect Job!

2011-06-13T09:20:00.000-07:00

Judi Perkins shares her insider tips for finding and landing the perfect job. As a recruiter, she reviewed over half a million resumes and was instrumental in setting up thousands of interviews. She joins Gerri Detweiler, host of Talk Credit Radio, to help you get a job you'll love. Listen or download episode:

Talk Credit Radio: Credit Card Warning

2011-06-13T06:44:00.000-07:00

Credit.com's Beverly Harzog explains why you should never give out personal information - even your zip code - when making a credit card purchase. Listen or download the episode here:

Talk Credit Radio: Is Your Debit Card Safe?

2011-06-12T19:24:00.000-07:00

After craft store Michael's revealed that some customer's debit cards were breached after they made purchases, many people are wondering whether their debit cards are safe. Talk Credit Radio's Gerri Detweiler explains what happens if your debit card is used fraudulently. Listen or download episode:

Talk Credit Radio: Liz Weston Money Tips

2011-06-06T20:28:00.000-07:00

The web's #1 personal finance writer Liz Weston dishes out advice on everything from marriage and money to kids and money, and talks about why you should go to to college in this episode of Talk Credit Radio with host Gerri Detweiler. Listen or download the episode:

Overcoming Underearning: Last Class Until Fall

2011-05-24T06:24:00.000-07:00

Have you ever found yourself starting to create a budget, starting to pay down your debt, or starting to make strides in increasing your income only to find yourself losing focus, losing interest, and losing patience?

Perhaps you've even done things like posting affirmations, making up vision boards of the house you want, the car you'd like, the lifestyle you'd like to live, and talked talked talked about your desire for a better job, a nest egg in the bank and that rental property you'd like to own- only to find the results less than stellar?

Or maybe you've been too busy MAKING money to do much of anything else, only to find yourself feeling burnt out, lackluster, and frustrated because you can't seem to make headway on creating that life you've been dreaming of.

So, why despite all your efforts, are you not making any headway? (Hint: It has nothing to do with bad luck, a family curse, or your lot in life.)

It's your thoughts and beliefs about money. Being an Underearner (one who earns less than her potential, despite her need or desire to do otherwise) has little to do with the amount of money you make. It has EVERYTHING to do with your attitude.

Overcoming Underearning® is a two pronged approach- it focuses on the Inner Work of Wealth (your thoughts beliefs and attitudes about money) and the Outer Work of Wealth (the mechanics of marketing yourself, negotiating higher pay, and managing your money). This process has helped thousands of women create remarkable results with their finances (not to mention they've lost weight, improved their relationships and increased their free time as well!).

My colleague Barbara Stanney wrote the book on Overcoming Underearning and facilitator Donna Otmani is leading a new session of Overcoming Underearning® which kicks off May 23rd. (This is the last OU Tele-class she will be teaching until this fall!)

In this 5-week Tele-class she will help you:
•    Identify the five simple steps to increasing your income
•    Think even bigger about what's possible for your life
•    Understand the signs of underearning
•    Uncover the Big Lie you've been telling yourself
•    Understand the signs of resistance and how to deal with them
•    Tailor a specific action plan to your individual situation

Ovecoming Underearning® Tele-class: The Five Step Plan to a Richer Life:
May 23rd- June 20th

5 Sessions from 8-9pm EST, 7-8pm CST, 5-6pm PST

Dates are Mondays 5/23, 5/30, 6/6, 6/13, 6,20

Every class session is recorded and you'll have unlimited email access to me throughout the course.

Are you ready for a different experience with your money and your power? This is the LAST CLASS until the fall. Enroll today!

How To Land the Perfect Job!

2011-05-16T16:50:00.000-07:00

Standing out in the job market is more difficult today than ever. Last week, I interviewed Judi Perkins on my radio show. She was one of the best guests I've ever interviewed, and her topic is timely: how to find (and get) the perfect job.

As a former recruiter, Judi set up and followed up on some 17,000 job interviews and reviewed over 500,000 resumes! Her placements ranged from entry level to CEO. She knows what it takes to get hired.

She explains how one of the shortcuts is to get through to the right people. Because applying for positions has gotten so easy, companies are being completely inundated with resumes from job-seekers who basically apply for any and every position that they are even remotely interested in. It’s now gotten to the point where
many companies don’t know how to effectively manage the candidate flow.

That’s where a recruiter can help you.

A good recruiter can make sure you get noticed for the right position.

“Demystifying Headhunters - How to Partner with Recruiters: Everything You Need to Know” is written in a clear, no-fluff style filled with actionable advice for professionals who want to actively manage their job searches and careers.
---Tim B., FL

But instead of using a recruiter most job seekers today opt for the “throw it all against the wall and see what sticks” philosophy in which they send their resume out to anyone and everyone that they can.

However, this approach couldn’t be more wrong.

You’ll waste a great deal of time and money and all you will likely end up with is frustration and disillusionment – instead of your perfect job at the top of your salary range!

Unfortunately, very few people on any level today really understand what recruiters do, how they do it (or why they ask so many questions before they'll tell you much at all.)

But that’s all about to change thanks to Judi Perkins’s new book, “Demystifying Headhunters - How to Partner with Recruiters to Find Your Perfect Job: Everything You Need to Know About Attracting, Choosing, and Working With Recruiters (with lots of valuable information even if you’re not).”

This book is filled with everything you need to know to find the right recruiter – the recruiter who can help you land your perfect job.

Not planning on working with a recruiter? This book is also jam-packed with job search tips you can use to find your perfect job on your own!

Demystifying Headhunters - How to Partner with Recruiters to Find Your Perfect Job, helps you figure out how to find a recruiter, the best way to work with them, and then puts you in the mind of a recruiter so that you can establish a good relationship with them. Before reading this e-book, I thought recruiters were just for CEOs, but this information can help people at the managerial level (like me), and even those who may be working with temp or permanent placement agencies. This is not information rehashed from other books or websites; it offers new insights on how you think of presenting yourself and on how to use a recruiter to your advantage. Read it!
---Chandra F., MI

Here’s just some of what’s inside this ebook:

• The three types of recruiters and which type to make sure you stay away from at all costs!

• Why you need a recruiter, even if you are happily employed – plus, what questions to ask to ensure you find the recruiter that’s right for you!

• How to find a quality recruiter among all the fake and ineffective ones on the Internet – plus, five not-to-be-overlooked ways to find a recruiter other than using the Internet!

• How to take control of your job search efforts and make sure you get noticed by all the right companies and recruiters!

• How to quickly determine if a recruiter is “a good one”!

• How to ensure you are remembered by a recruiter … step by easy step!

Plus, you’ll also learn:

• How to develop a “personality for success” – you’ll simply be amazed by what you read here!

• How to realistically assess your capabilities – and then jumpstart your job search by drawing attention to your strengths!

• What companies want now more than ever – and how to demonstrate to them that you have exactly what they need!

• Why your resume could be holding you back – other than your birth certificate, your resume is probably the most important professional document you’ll have in your entire life, yet people continue to make mistakes on them … find out exactly what should be in your resume!

• The one thing you should absolutely not do if you really want to land your perfect job – this is critical to your success … even if you read nothing else you must read this important tip!

• How to remove the filters or the “barriers to entry” in getting your perfect job – find out what you should do to ensure your resume gets read!

• The single best resource companies employ for finding new talent – and how you can best take advantage of it to secure your perfect job!

• The REAL truth about search firms and headhunters – find out if all of them really have the job seeker’s best interests in mind!

• Why only 2% of job seekers find work using job boards – and how you can get around this potential career road block!

• How to nail any interview – discover exactly what you need to do and say to ace an interview … including things the hiring manager will NEVER ask or tell you but that you need to be sure to communicate anyway!

• How to know when you should stick it out in a current position or move on!

• The proper way to respond to any offer – plus, why taking a counter offer from your existing employer is one of the worst mistakes you could ever make!

• And much, much more!

To learn more about this terrific book, including how you can get a copy for a very special low, low price on May 17 only, please visit FindThePerfectJob.com.bookbonus

I’ve reviewed this book, and found it to be very well written and educational. Even though I am not in the job market, I found myself wanting to learn more of Judi’s strategies. Her expertise really shines through. Judi was a guest on my radio show on May 13, 2011. You can listen to her podcast here.

(The link above is an affiliate link, so I do stand to earn a small commission if you decide to purchase the book. However, I would recommend it anyway. It’s excellent.)

Stretching Your Dollar!

2011-04-22T12:00:00.000-07:00

In this episode of Talk Credit Radio, Gary Foreman shares his best money-saving secrets. He's the editor of the hugely popular website, Stretcher.com, and he's been sharing his penny pinching advice since 1996.

Gary shares his best advice for saving money on autos, home, and food. He even shows Gerri - who can't cook - how to cut her food budget.

Listen online, or download the mp3 file.

Listen to more episodes of Talk Credit Radio here.

How to Collect Unemployment Benefits

2011-04-21T09:17:00.000-07:00

In this episode of Talk Credit Radio, I interview Spencer Cohn, national employee representative. For more than twenty years, Spencer has been helping workers fight for the unemployment benefits they deserve.

If you've been denied unemployment, or if you are nervous about losing your job and want to help ensure you will be able to collect your benefits, you won't want to miss this episode!

Listen to more Talk Credit Radio episodes here!

How to Establish Credit with Farnoosh Torabi

2011-04-20T09:13:00.000-07:00

In this Talk Credit Radio episode, Farnoosh Torabi and I talk about how to establish credit if you are young and just starting out. We discuss:

The pros and cons of cosigning for your kids,

The best way to get your first credit card,

How to keep spending in check...and more.

Listen to more episodes of Talk Credit Radio here.

How to Get a Mortgage Even If Your Credit Isn't Perfect

2011-04-18T12:00:00.000-07:00

This week on Talk Credit Radio, I interviewed Joe Kelly, mortgage expert and founder of ArcLoan.com and YouCanRefi.com, about how to get a good mortgage even if your credit isn't perfect. He answered these questions and more:

I've been through foreclosure, when can I buy a home?

My spouse has bad credit (or vice versa) - can we finance a home?

I want to buy a property that was in foreclosure. How do I get a loan?

I want to buy a home the seller is selling as a short sale. What do I need to know about getting a mortgage to buy it?

My equity has dropped (even underwater), how can I refinance?

How can I refinance a second home or investment property with little or no equity?

Listen to the interview, or dowload it, here:

For additional episodes, visit TalkCreditRadio.com.

Talk Credit Radio: The Truth About FICO Scores

2011-04-17T08:51:00.000-07:00

This week on Talk Credit Radio, I interviewed Tom Quinn. Tom is one of the credit experts at Credit.com and he has previously worked for FICO for fifteen years. I quizzed him about credit score facts versus fiction.

True or False:

Every time a consumer applies for credit it costs 5 points on their credit score.

A bankruptcy will “haunt” my credit score forever.

A short sale has less of an impact on my credit score than a foreclosure.

Going to a credit counseling agency will hurt my score

A high income helps my credit score.

Tom also explained what it takes to get a credit score, and he described the way FICO groups consumers into "scorecards" and how that affects your credit scores.

Listen or download the podcast here:

For more episodes, visit the Talk Credit Radio show page.

How Do I Deal With a Collection Agency for a Bill I've Paid?

2011-03-27T13:06:00.000-07:00

Here I answer a question submitted by a DebtConsolidationCare.com reader who wants to know how to deal with a collection agency who is trying to collect a bill that's already been paid:

Financial Self-Defense: Arm Yourself Against Identity Theft Crooks

2011-03-22T16:04:00.000-07:00

A decade ago, a thief walked into the offices where I was working in Washington DC and, in the middle of the day, walked out with several computers, a television and a VCR. One of the offices hit was just two doors down from where I sat working, oblivious to the heist. The experience left everyone in the office unnerved. How could someone have pulled off that crime right under our noses? Why weren’t we paying better attention?

I imagine identity theft victims often feel the same way. Many probably question whether they could or should have been more vigilant.

Read more

New IRS Policy Makes Tax Liens Less Taxing

2011-03-13T16:50:00.000-07:00

Last year I wrote about how the IRS policy on filing tax liens unfairly hurts taxpayers and small business owners. Tax liens are truly a double whammy. Not only do you owe the IRS (which is bad enough) but you may also find your credit destroyed for years by a tax lien on your credit reports.

This time, I have good news: the IRS is implementing new policies that ease up on tax liens. This can make a tremendous difference for millions of Americans.

Read more

What Can Debt Collectors Say On Answering Machines?

2011-03-10T13:22:00.000-08:00

Talk about an uncomfortable situation. A reader recently contacted us about a message she found on her answering machine. The recorded message was regarding a collection for her father who does not live with her:

Dear Gerri,

I’m very concerned that a debt collector may have broken the law. Long story short, I recently received this message from a debt collection company.

I’m concerned because this message wasn’t for me—it was actually for my father, who lives in another state. As far as I know, under the Fair Debt Collection Practices Act, debt collectors are only allowed to contact a relative or neighbor once in attempt to reach the debtor… but I was under the impression that legally, debt collectors are not allowed to share “why” they’re calling (in an attempt to collect a debt) unless they are speaking to the actual account holder, right? My father would be mortified if he knew that I knew he were having financial problems. Did this collector break the law?

— Cindy (A Concerned Family Member)

Read more

1099-C In the Mail? How to Avoid Taxes on Cancelled Debt

2011-03-09T13:18:00.000-08:00

If it’s been a rough couple of years for you, you’re not alone. Maybe your income was cut, you lost your job, or you had large expenses like medical bills. You may have fallen behind on bills, fielded collection calls and managed to settle some of your debts for less than the full balance you owed. You’re hoping the worst is behind you.

Read more

House Committee Aims to Gut Foreclosure Protection Measures

2011-03-08T15:18:00.000-08:00

The House Financial Services Committee today will mark up four bills designed to gut foreclosure prevention programs. No other legislation is being proposed to fill the gap and help the estimated five million mortgage holders at risk of losing their homes.

Read more

Industry Group Brings Together Debt Relief Factions

2011-03-07T12:58:00.000-08:00

If you are deep in debt, and plan on looking for a solution, be warned. Not only do you have to sort through all the competing companies clamoring to help, but you may also stumble into a “War of the Roses” of sorts among the competing factions in the debt relief industry.

Read more

IRS Eases Up on Tax Liens: Good News for Credit Scores

2011-03-03T13:25:00.000-08:00

Finally, some good news - make that great news – from the IRS. They are lightening up on tax liens. As I’ve written before, the IRS’s draconian tax lien policy has ruined millions of Americans’ credit ratings, and probably made it even more difficult for them to pay the debt they owe to the IRS.

Read more

Get Your Free Reports from Specialty Consumer Reporting Agencies

2011-03-02T13:27:00.000-08:00

Most people are aware of the fact that you can get a free copy of your credit reports once a year from each of the major credit reporting agencies: Equifax, Experian, and TransUnion.

Read more

Reader Question: Medical Bill In Collections With No Warning

2011-03-01T14:38:00.000-08:00

A reader sent in a question about a medical bill that went to collections without her knowledge:

I received a notice that I was in collections for a medical bill. I never even knew this bill had gone unpaid! I had paid all the bills I received for this procedure. I called the hospital and they told me there was nothing I could do about it. This is going to ruin my credit scores. What can I do?

Read more

Specialty Consumer Reporting Agencies: Tenant History Reports

2011-02-28T12:45:00.000-08:00

This is the final installment in my series about how to get your free specialty consumer reports. You can read the entire series beginning here.

If you are trying to rent an apartment or house, your prospective landlord is likely to check your credit. Typically, they will go through a tenant screening company to get your report. That company may, in turn, obtain information from one or more of the three major credit reporting agencies (Equifax, Experian or TransUnion). These firms also usually provide criminal background screening and may offer additional screening to uncover rental issues such as broken leases or evictions. There are literally hundreds of agencies that can provide these reports to landlords.

Read more

Should Credit Checks By Employers Be Banned? Survey Says Yes.

2011-02-25T15:14:00.000-08:00

In September 2010, then-California Governor Arnold Schwarzenegger vetoed a bill that would have significantly restricted the use of credit checks by employers in California. If the same bill were put before the American people, though, more than half of them would have likely signed it into law. According to a recent Credit.com survey, the majority of Americans approve of the idea of banning the use of credit reports for employment screening.

Read more

How to Get Unemployment Benefits

2011-02-24T13:20:00.000-08:00

For millions of Americans, unemployment benefits provide a lifeline that lets them keep the wolf from the door. But collecting those benefits isn’t always simple. Unemployment claims are often denied, and sometimes for avoidable reasons.

Read more

Hidden Program Can Help Even 'Greedy Speculators' Refinance Investment Properties and Second Homes

2011-02-23T14:06:00.000-08:00

Over the past couple of years I’ve heard from countless real estate investors who are stuck between a rock and a hard place. They bought real estate as an investment a few years ago, but the value of the property has declined, and there just isn’t enough income coming in to keep up with the payments. They don’t want to default, but if they can’t figure out a way to improve their cash flow they will.

There is a program that may help some of them, but it’s so inexplicably well-hidden that most investors won’t even get try to take advantage of it. They should.

Read more

How To Request Your Free Medical Report Disclosures

2011-02-22T20:27:00.000-08:00

Specialty Consumer Reporting Agencies: Medical Reports

This is the fifth installment in my series about how to request your free consumer reports from specialty agencies. You can read the series starting here.

There are several nationwide companies that collect and report medical-related information about consumers. Given how important your medical information is, it’s pretty astonishing that medical information reporting is practically in the dark ages when you compare it to credit reporting. In other words, there are no nationwide bureaus that collect and report comprehensive medical records for consumers in the same way that the nationwide CRA’s do for credit. With a number of companies competing to provide electronic medical records, though, we may get to that point eventually.

Read more

Gerri Detweiler's List of Credit Resources

2011-02-22T14:06:00.000-08:00

“I’m overwhelmed. I’ve been researching solutions to my credit problems
but I don’t know who to trust.”

That’s one of the comments I hear frequently and that’s why I’ve created this Resources section. Whether you’re looking to consolidate debt, borrow cheaply or solve credit problems, I’ve found the best companies to help you reach your goals!

I chose these companies to recommend because I honestly believe they can help. I am an affiliate of some of them, which means I may get a referral fee for traffic I send their way. You can read my income disclosure here.

Here are my top picks for you:

Credit Reports

Stellar credit is almost like money in the bank. To review your credit reports, start by ordering your free annual credit reports at AnnualCreditReport.com.

Then visit Credit.com’s Free Credit Report Card to get a truly free analysis of your credit score with recommendations. Don't worry, we don't ask for a credit card number - or spam you!

Need more help with your credit? Visit Credit.com's Credit Monitoring Guide to find products offering credit monitoring, credit scores, and more.

Credit Repair Books

I could write an entire book just on improving credit scores and reports, but fortunately, I don’t have to! When you’re ready to start rebuilding your credit, here are three excellent books I recommend:

You’re Nothing But A Number: Why Achieving Great Credit Scores Should Be On Your List of Wealth Building Strategies by John Ulzheimer

Credit Scores and Credit Reports 3rd ed: How The System Really Works, What You Can Do by Evan Hendricks (Make sure you get the latest edition)

Your Credit Score: How to Fix, Improve, and Protect the 3-Digit Number that Shapes Your Financial Future by Liz Weston, 2nd Edition (Paperback)

Debt Consolidation

DebtConsolidationCare.com is the Internet's first get-out-of-debt community. Get free help from others who want to help you find solutions for your debt. And see my video blogs while you are there!

Debt Negotiation and Settlement

Debt settlement can be an important alternative to bankruptcy if you can’t repay your current unsecured debt and you can’t, or don’t want to, file bankruptcy.

For a free confidential questionnaire and a confidential evaluation of your situation, I personally recommend three companies:

Consumer Recovery Network

New Era Debt Solutions

Zip Debt

Mortgages

Since 1993, ArcLoan has educated thousands of consumers across the United States on mortgage strategies and programs that help increase savings and reduce debt. Home of the Automatic Rate Cut Loan™ & the ArcLoan Mortgage Management Program™

Visit them at ArcLoan.com and YouCanRefi.com

Good Advice Press is a great resource if you want to learn how to pay off your mortgage faster and save money.

Identity Theft

Use Credit.com's free Identity Risk Score tool to quickly assess your risk of becoming a victim of identity theft.

Already a victim? Visit the FTC Identity Theft Resource Center

Help protect yourself from identity theft with credit monitoring services.

Personal Loans

Find Personal Loans at Credit.com. Loans are available for up to $25,000 with no prepayment penalties or upfront fees.

Saving Money

The Dollar Stretcher has been my go to source for money-saving tips and strategies for more than ten years. You’ll find a wealth of information to help you save money and live better on less.

Stop Debt Collectors

If you are being harassed by debt collectors, you’ll want to check out my ebook Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights You can read the first chapter online for free!

Kids and Money

My then-elementary school age daughter changed her tune about spending and saving virtually overnight with the help of Sammy the Rabbit at www.ItsAHabit.com. She and her friends loved the CDs and books.

Financial Planning

I am proud to serve as a credit coach for members of the Garrett Planning Network. These fee-only financial planners can help you with a variety of financial planning services, from creating a retirement saving strategy to getting your budget on track. Their advice is independent and unbiased, and I know from the time I have spent with many of them, they really care!

Additional Helpful Websites

CallforAction.org: an international network of consumer hotlines affiliated with local broadcast partners.

Consumer-action.org offers lists of credit cards and helpful consumer information in many languages.

ConsumerFed.org is the website of Consumer Federation of America. You’ll find consumer brochures on saving money, buying a home and more.

ConsumerWorld.org is one of the most comprehensive consumer websites available. Sign up for their free newsletter.

DebtorsAnonymous.org offers help with chronic debt.

Financial Recovery Institute offers Financial Recover counseling, a structured process that helps clients transforms their relationship with money. It seeks to treat the whole person, including addressing the client’s history, and emotions relating to, money.

Fraud.org is the home of the National Fraud Information Center. If you suspect telemarketing or Internet fraud, contact them immediately.

FTC.gov is the website of the Federal Trade Commission. You’ll find consumer tips, statutes and more.

SmartMoney.com offers extensive information about financial topics including debt and money management.

Steve Rhode answers questions about debt for free at Getoutofdebt.org.

Consumers Union: Credit Card Reform

Consumer Reports

National Consumer Law Center (NCLC)

Privacy Rights Clearinghouse

Truth About Credit

Give Me Back My Rights

Listen to My Radio Interview with Moms Making A Million

2011-02-21T13:01:00.000-08:00

You can listen to my radio interview with Gina Robison-Billups and Kathleen Bellucci on Moms Making A Million here.

Moms Making a Million is a free program with the mission to help one million moms have a plan for $1 million in personal net worth. If women were paid the same as men for the same job, we would reduce poverty in America by 50%! Our goal is to reduce poverty for America's families. We believe that when you lift one mom up, you lift an entire community up. This program is part of The International Association of Working Mothers, a 501c3 charitable organization.

Don't you love it?

How to Build Credit if You Are New to the United States

2011-02-20T16:15:00.000-08:00

If you are an immigrant, you may find establishing credit in the United States difficult and frustrating. Here we will provide some tips for making the process a little easier.

Read more

Specialty Reports: Employment Reports

2011-02-17T17:15:00.000-08:00

This is Part Four in my series on how to request free copies of your specialty consumer reports. You can read the entire series starting here.

If you’ve applied for a job lately, you may have been asked to fill out a form authorizing your prospective employer to conduct a background check on you. Here is an excerpt from an employment screening authorization form:

Read more

In A Money Fix? Help is Available!

2010-09-30T12:32:00.000-07:00

I'll be participating as a coach for DailyWorth.com's project The Money Fix. Here are more details:

Philadelphia, PA - (Sept. 29, 2010) - DailyWorth.com, the personal finance daily email and community for women, announces the introduction of The Money Fix - a real-time financial self-improvement project, connecting select DailyWorth readers to top money experts, including Beth Kobliner, Carmen Wong Ulrich and Liz Pulliam Weston, who will coach readers through self-identified financial challenges. Participants will blog about their progress on this fall's Season 1 of The Money Fix on DailyWorth.

"Learning from others is a sure way to not only get the 'how-why-and-what' right, but to also grow the confidence and motivation to make your money right, yourself," says Wong Ulrich of The Money Fix. Expert list includes: Beth Kobliner, Liz Pulliam Weston, Carmen Wong Ulrich, Eleanor Blayney, Gerri Detweiler, Galia Gichon, Jacquette Timmons and money therapist Amanda Clayman.

The Money Fix will bring live personal accounts to DailyWorth's content offering, and enable DailyWorth community members to get financial help from industry experts at no cost.

"The Money Fix is emblematic of DailyWorth's service to women: to move beyond stock advice by using real stories to illuminate real-life financial solutions," comments Amanda Steinberg, DailyWorth's founder and CEO.

Initial reader posts--ranging from a woman whose house is in foreclosure to a family trying to adopt a new baby--kick off today on DailyWorth.

Debt Tagging: Tag You're It!

2010-07-07T06:52:00.000-07:00

IdentityTheft911 has coined the term "debt tagging" to describe a growing trend - debt collectors pursuing consumers for debts that don't belong to them. Learn more about your rights here:

Tips for Dealing With Debt Collectors

2010-06-03T08:07:00.000-07:00

Here's an interview I did via Skype for ABC's Good Money on dealing with debt collectors:

My e-book Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights explains in detail what to do if you are contacted by a debt collector.

New Contest for Small Business Owners

2010-04-19T06:29:00.000-07:00

I love hearing small business success stories, and right now we need them more than ever as inspiration and motivation to hang on during rough times. That's why I want to let you know about a new contest that I've been asked to serve as a judge for. The Comeback 2010 Contest is being sponsored by Cortera, one of the leading business credit agencies. Here are the basics:

Cotera is offering over $5,000 in prizes for the best story (video or text) about their experiences as a small business owner, split into four categories:

· The Comeback: Tell us an inspiring story about a time when you went "all-in" for your business against big odds - perhaps a tough economy, or a fierce competitor.

· Cough It Up: Ever had trouble getting reimbursed by a business partner/vendor? We want to hear the story of how you got paid, and recovered the money you needed to grow your business.

· Hanging Out the Shingle: Tell us the story of when you broke from the pack, and started living your small business dream.

· Hometown Success: Share the story of how your company is making a real difference in your local community this year.

To learn more or to enter, visit TheComeback2010.com.

Free Teleseminar for Career Changers

2010-03-15T14:33:00.000-07:00

Looking for a career change? Know people who are?

How about a free teleseminar designed to tell you all about a unique training program that teaches you how to become a money coach? As a money coach you get to have your own business, make good money, and experience the rewards of helping people resolve the emotional issues at the root of their money troubles! (And isn’t just about everyone these days looking for a pro to help them change their relationship to money?) The teleseminar is Thursday, March 18th, from 4-5pm Pacific Time - It's run by Karen McCall, the founder and owner of the Financial Recovery Institute - http://financialrecovery.com - Sign up here. Then apply for Karen’s next training at http://www.financialrecovery.com/training.html.

You'd be crazy to miss this...

2010-03-10T08:04:00.000-08:00

Two of my favorite people, Marcia Brixey and Mikelann Valterra, are going to be offering a free teleclass on March 23, 2010. The seminar is titled Your Money Personality and Self-Employment with Mikelann Valterra, Director of the Women's Earning Institute. Mikelann is truly one of the very best speakers I've ever heard, Marcia is a master facilitator, and I know and you don't be disappointed.

Sign up at Moneywisewomengetsmart.com and you'll get the handout for the teleseminar: Your Money Personality and Self-Employment. It has a very fun multiple choice quiz for you to take, to start analyzing your own money personality. (Hint- If you are in a romantic partnership with someone, Mikelann recommends pretending that you are single when you answer the questions.)

Mikelann and Marcia will be discussing this quiz, and what your results mean, on the call. If you don't take the quiz until after the call, that is great too. You will love listening to us discuss people's money personalities and how this impacts their ability to be successfully self-employed.

Don't miss this one. If you can't make the live call, be sure to sign up so you can access the recording afterward.

Consumer And Credit Card Changes

2010-02-24T06:58:00.000-08:00

Monday was a crazy busy day as all of the Credit.com team fielded interviews about the Credit CARD Act. Here is one I taped in Tampa:

Consumer And Credit Card Changes

If you would like to see a summary of
The Credit CARD Act, here's one I wrote for Credit.com.

Thinking About Starting A Business?

2010-02-10T12:57:00.001-08:00

This video features a former biz opportunity scammer who made a lot of money. While this can be a good time to start a business, watch out:

Banks Shut Low-use Credit Cards

2010-02-05T07:40:00.000-08:00

Mere weeks before the Credit CARD Act's main provisions are taking effect, and changes still happening. FT.com / Companies / Financial Services - Banks shut low-use credit cards

New Free Budget Tool iPhone App

2010-01-29T09:45:00.000-08:00

Consolidated Credit Counseling Services has released its Free Budget Tool iPhone Application. You can use it to find out if you are living within your means and how your budget compares to an ideal, recommended budget. Use this App to find tools and new creative ways to better organize your budget and identify areas of high spending. The Budget Tool allows you to track your spending and conveniently organize your budget in a visually appealing way. Note: I don't have an iphone so I can't test it, but it looks like a great tool!

Budget Tool was created by Consolidated Credit Counseling Services, Inc., a leader in credit counseling. They have worked many years to provide money saving tips and strategies to get your finances back on track. (Disclosure: in the past, they hired me to create educational content for their website.) The Budget Tool provides you with tips on how to save money and reduce overspending in various categories. This feature makes the Budget Tool stand out over any other budget applications available!

iPhone App

Gerri Detweiler headshot 3

2010-01-27T09:30:00.000-08:00

Gerri Detweiler headshot 2

2010-01-27T09:28:00.000-08:00

Gerri Detweiler headshot

2010-01-27T09:19:00.000-08:00

Credit Card Companies and Haiti Relief Efforts

2010-01-19T13:14:00.000-08:00

My parents are headed to Haiti this weekend. They spend a month their each year helping a mission family. They are usually allowed 50 pounds of luggage, and they pack within ounces of that limit, trying to fit in as much as they can. Last year, my mom even wore a stack of straw hats she picked up for the Haitian women she knows there.

Knowing how great the needs there are, and how every single bit counts, I was appalled to read the stories the New York Times, Huffington Post and other outlets have been reporting about the profits card companies take by charging their usual merchant fees to charities. These stories have focused on the cut the card companies would take from donations to the Haitian relief efforts. You can read the stories if you haven't already, but one quote in the Huffington Post article stood out to me:

"I have no doubt that millions and millions of dollars are being made off of people's donations, and it's extremely inefficient and wasteful," said Ken Berger, President and CEO of Charity Navigator, an independent charity evaluator.

I'll be honest. Even though I follow this industry, it never even occurred to me to question whether the card companies were getting their full fee on charitable donations made with a credit or debit card. I'm glad someone else was paying attention.

The publicity arising from these articles have already resulted in some changes. Card companies are agreeing to waive fees for certain organizations participating in the relief effort. But that's only a drop in the bucket compared to the money raised by charities (and earned by card companies on those donations) each year.

I'll admit this is a sticky issue. How do the card companies decide which charities qualify for a waiver on these fees? Fortunately, Capital One seems to have figured it out with a program that waives 100% of the transaction fee. In reviewing the Capital One No Hassle Giving site, I was pleasantly surprised by the number of charities listed. There's no reason others can't adopt their model.

There's no doubt that when it comes to helping Haitians through this disaster, every penny counts. And I know for many charities, the 2.5% - 5% cut the card companies take could be put to better uses. Let's hope they'll do the right thing.

Income Disclosure

2010-01-15T10:36:00.000-08:00

I want you to feel comfortable that I am providing you with unbiased information, and so I will be upfront with you about my sources of compensation.

Most of my income is derived from the writing/consulting work I do for my corporate clients, such as Credit.com and Union Privilege. From time time, I will also be hired as a spokesperson for a educational campaign. I have been involved in such campaigns for clients such as MasterCard and Bank of America. I only accept those assignments when I feel the message of the client is aligned with my thoughts on the topic.

I also derive a very small percentage of my income from online affiliate programs, which means they pay me for referrals. Again, I strive to always be unbiased in my recommendations, and refer consumers to multiple sources whenever appropriate. For example, when a consumer asks me about debt settlement, I may refer them to companies mentioned on this blog, whom I believe do a good job (I am an affiliate of a couple such companies), but I will also insist they talk with a bankruptcy attorney as well, and I receive no compensation for the referral to an attorney.

I receive review copies of ebooks, books or educational programs from authors/publishers who hope I will review them. I do that as time allows, and donate the copies to my local library's fundraising program when I am finished with them. As of this writing, I have not received any other types of products to review.

I am also paid for the sale of my own books and ebooks.

Programs for which I am an affiliate:

Collection Complaint Hotline
Total Bankruptcy
ZipDebt.com
Consumer Recovery Network
New Era Debt Solutions

If you have any questions about this policy, let me know!

Life without debt? It’s possible. Tell your story and get help for FREE!

2010-01-14T05:16:00.000-08:00

Were you rate jacked by your credit card companies in 2009? Were the interest rates on your cards raised to outrageous levels? If so, Consumer Recovery Network (CRN), http://www.consumerrecoverynetwork.com, an ethical, consumer-friendly debt settlement firm, is inviting you to share your rate jacking story with the company for the opportunity to win a valuable prize that will help you get out of debt faster.

Michael Bovee president of CRN is sponsoring the contest to celebrate the fact that when the Credit Card Accountability Responsibility and Disclosure Act (CARD) becomes law on February 22, 2010, rate jacking will no longer be legal. “In pursuit of greater profits, credit card companies have been raising the rates on consumers’ credit cards for any reason, even on card holders who were never late with a payment. The practice of rate jacking created money problems for many consumers, made it impossible for them to pay off their credit cards and even forced consumers into bankruptcy”, explains Bovee. “The end of rate jacking is cause to celebrate.”

To enter CRN’s contest, provide your rate jacking story to CRN no later than January 31, 2010.

- You can e-mail your story to CRN at michael@consumerrecoverynetwork.com

- You can post it as a comment on CRN’s blog at http://debtbytes.consumerrecoverynetwork.com/contest,

- or mail it to CRN at:
217 Cedar St.
#281
Sandpoint ID 83864

In your story:
-- Explain exactly what happened to you and how the rate jacking affected your personal and financial lives
-- If you’ve resolved the problems that the rate jacking created for you, exactly what you did.
-- Provide your daytime phone number and e-mail addresses in case CRN needs to contact you for additional information.

CRN staff will review all contest entries and select the 6 stories that most dramatically illustrate the harmful effects of rate jacking. Then a panel of CRN specialists and nationally-known consumer advocates will review those 6 stories to choose the contest winner. The winner will receive a full CRN membership, including the company’s Settle Down educational series, unlimited one-on-one debt settlement assistance and support from a CRN specialist, who will be assigned to work with that person for a period of two years, and full service debt negotiation services for 2 years. Also, the winner’s story will be published on CRN’s blog on 2/15/10 although the winner, will not be identified in the blog.

The exact value of the winner’s prize will depend on the total amount of unsecured debt that person owes and the number of unsecured creditors he/she owes the money to, but it could be worth several thousand dollars, depending on how these criteria apply. Note: If you win, but you’ve have already resolved the financial problems that were caused by your being rate jacked, you can transfer your prize to a friend, family member or co-worker who could benefit from CRN’s debt settlement services.

CRN helps consumers protect their rights when they have too much debt, make sound financial decisions, and alleviate their economic stress by providing them with clear-cut debt settlement education and advice coupled with affordable full service debt negotiation and settlement services. (CRN does not settle student loans, car loans or mortgages.) Its consumer education, coaching, and full service debt negotiation and settlement services combined with its reasonable fees make CRN an industry innovator and leader, setting the standard for fairness, ethics and best practices in the debt settlement industry.

A Debt Tool I Love...at a Price You'll Love!

2010-01-13T12:00:00.000-08:00

Nearly eighteen years ago, I was interviewed on Dateline NBC for a story about credit card debt. A professor and his wife needed help conquering their pile of debt, and as a consumer advocate working for a leading non-profit organization focused on credit issues, I was brought in to give them an action plan.

The piece generated an overwhelming response from viewers. Within days, our small non--profit in the Washington D.C. suburbs was flooded with requests for help. (Remember, this was before most of us were online.)

Back then the tool we recommended was a software program developed by a Marine with a head for math, and a heart for helping consumers get out of debt fast.

That program, Zilch, was the best tool available at the time, and in my opinion it is still is the program I most often recommend for consumers who want a comprehensive, rapid action plan for paying back all their debts.

Here's the good news:

If you buy the Zilch Standard debt-reduction software by January 29th, 2010 you'll get it for 15% off.

Zilch Standard empowers you to create a personalized, step-by-step plan for a life free from financial distress.

As 2010 rolls in, your dream, and perhaps your new year's resolution, may be to wipe the slate clean and emerge from the constant stress of debt. But when you're overwhelmed with financial worries, it's hard to think straight, let alone figure out how to climb out of the red. Zilch Standard shows you the way.

Using Zilch Standard software, you'll just fill in the blanks, press the button and receive your debt reduction plan. It's tailored to your individual needs and what you can afford. It tells you exactly how much to pay each creditor each month. Follow the plan and you'll be debt free quicker than you ever thought possible. And you'll maximize your savings on interest payments.

Here's what I love about it:

1. It's flexible. If you want the shortest route out of debt, it will show you how to get there. But if you really just want to knock out your low-balance credit cards first, you can run it that way as well. You can calculate what-if scenarios with your debt (How much will it take to be debt-free in three years? Five years? One year?)

2. No impact on your credit rating. Follow the plan and you will be out of debt without damaging your credit. In fact your credit may improve as you lower your balances!

3. It works. Back when we first ran the Zilch repayment schedules for our clients in our office (we would actually mail them the payment plans since most people didn't have access to PC's at home), consumers would write us letters thanking us for the the fact that they can finally see the light at the end of the tunnel! Micheal Riley, the developer, tells me his customers pay 50 to 60% less in interest penalties and get out of debt 55 to 65% faster!

Caveat: If you do not have enough money to make at least your minimum monthly payments, plus a little extra, without continuing to borrow, then this is not the program for you. Consider other options like debt negotiation or bankruptcy.

4. You'll be in control. What a powerful motivator watching your debt shrink away and knowing the exact date when it will vanish completely!

Here's the link to buy the Zilch Standard software by January 29th and get 15% off.

This is my affiliate link which means I will earn a small commission if you buy through that link. You can go directly to the site and bypass my link if you prefer. Just use code 2901 for the discount. I've been recommending this program since 1990 - and continue to believe it's one of the most powerful tools available for reducing debt!

Money Wise Women Free Teleseminar Series Debuts

2010-01-13T09:39:00.000-08:00

Join me for the free-of-cost Money Wi$e Women Get Smart Teleseminar Series sponsored by The Direct Selling Education Foundation (DSEF) and Money Wise Women Educational Services, a non-profit organization dedicated to educating and empowering women to live financially healthy lives. Marcia Brixey, Founder and President of Money Wise Women Educational Services and author of The Money Therapist: A Woman's Guide to Creating a Healthy Financial Life, will host the series that covers a variety of topics related to business and finances.

Ms. Brixey will interview professional experts on subjects that include investing; goal setting; financial record organization; eliminating credit card debt; credit reports and scores; estate planning; taming your money fears; tax tips for self-employed; marketing your business; being a successful entrepreneur; managing your time and multiple commitments; giving your elevator speech a lift; emails writing that counts; expanding your business using internet marketing; and much more.

Time: 5:30 pm - 6:30 pm (Pacific Standard Time)
Dial In #: 218-862-7200
Bridge #: 754922
Contact: marcia(at)moneywisewomen(dot)net or 360-204-0982, or Bettie Smith at bsmith(at)dsef(dot)org or 202 416 6421
Sign up online at www.moneywisewomengetsmart.com

Upcoming Teleseminars

The 5 Keys to Unlocking Passion, Purpose and Prosperity: A Transformational Approach to Goal Setting -- Shannon Bruce, Inner Wisdom Coaching
January 12, 2010

Managing Your Time & Multiple Commitments --Sherri Edwards, Resource Maximizer
February 9, 2010

Tax Tips for the Self-Employed -- Robin Clark, CPA and Dean Heyl, Attorney
February 23, 2010

Reduce Debt, Reduce Stress -- Gerri Detweiler, Ultimate Credit (that's me!)
March 9, 2010

Power of Vision Using Dream Boards -- Melissa Wadsworth, Creator of Dream Board Magic! How to Create and Use Dream Boards for the Life of Your Dreams
April 13, 2010

So You Want to be an Entrepreneur --Sunny Kobe Cook, author of Common Things, Uncommon Ways and Founder of Sleep Country USA
April 27, 2010

Give Your Elevator Speech a Lift -- Lorraine Howell, Media Skills Training & author of Give Your Elevator Speech a Lift
May 11, 2010

Do You Want To Write A Book? Don't Miss This!

2010-01-12T10:36:00.000-08:00

I often get asked by would-be-authors how to get their books published. If you would like to be a published author, I have a resource I'd like to recommend...make sure you read this entire announcement so you can attend the free teleclass that is being held tomorrow - January 13th 2010!

Declare 2010 the Year of You, the Writer

It doesn't matter if you thought you would get your book done in 2009. . .or 2008 . . . or you're dreaming about it now for the first time. Writing is a practice that always takes place in the present. Forgive life for taking you through it's channels in another direction, if it did.

Release your fear of the unknown future, if you're feeling anxious. Allow your enthusiasm to bubble, sizzle, and percolate in the swirling sea of who you are and how you live. On the evening of January 13, my good friend Stephanie Gunning is going to break down the reality of being a productive working book author for us. If writing a book is one of your intentions in 2010, you seriously won't want to miss this informative webinar.

EVENT: Get a Book Deal Information Meeting
DATE & TIME: Wednesday, January 13th at 8:00pm Eastern
(7 pm Central/ 6 pm Mountain/ 5 pm Pacific)

FORMAT: Simulcast! (Attend via Phone or Webcast -- it's your choice)
TO ATTEND THIS EVENT, CLICK THIS LINK NOW...
http://www.AttendThisEvent.com/?eventid=10073793

Stephanie will spend an hour dreaming with you on your behalf, because she knows if you can see it with your inner vision, you can accomplish it in the real world. She'll guide you through steps to get yourself going and move towards getting a book deal. And then she promises to open the line and take questions for another half hour.

On the call, among various points, Stephanie will talk about:

==> How to set a powerful intention for your book
==> The stages to get from idea to bookstore shelf
==> Why you absolutely must draft a book proposal
==> Tools from brain science to support your creativity
==> Spiritual techniques to support your creativity
==> Where & how coaching can be an assistance to you

Her purpose is to raise your spirits and motivate you to achieve your destiny as an author, doing a kind of energetic jujitsu with your internal and external obstacles. You've got the passion inside you for this idea and she intends to see you execute it.

You can do it! Yes, you can!

Stephanie Gunning, the Get a Book Deal™ Coach, is a bestselling author, editor, and publishing consultant who coaches authors on how to get book deals. A former senior editor at Bantam-Doubleday-Dell, she's mastered the art of transforming powerful ideas into highly marketable books. She's written and co-written 22 books that have been published by major publishers and self-published by independents, and in her career she has edited literally hundreds of nonfiction book manuscripts. For information on her program, visit www.getabookdealcoach.com.

Note: I am an affiliate of Stephanie's, which means if you decide to use her services I would get a commission for the referral. It doesn't change my recommendation - Stephanie is good and I send people her way regardless of that affiliation!

Why Americans Need a Strong Consumer Protection Agency

2010-01-12T06:33:00.001-08:00

Free Holiday Spending Help

2009-11-25T12:42:00.000-08:00

Planning on starting your holiday shopping this weekend? Stressed about this year's (maybe meager) holiday budget? Here are three free tools I believe you'll find helpful:

Credit.com's free holiday spending worksheet is a simple downloadable worksheet you can use to plan out what you want to spend, then keep with you in your purse or wallet to keep your spending on track.

Karen McCall's free Holiday Spending Planner is a wonderful tool for planning your holiday spending in detail. It includes a free ebook that is a must-read.

Consolidated Credit's Holiday Survival Guide is a terrific workbook with some great ideas for restoring sanity to your budget this season. I contributed to an earlier version some years ago, but the updated guide includes some creative new tips like how to use Twitter and Facebook to shave your budget.

I'd love to hear what you think of these holiday budget worksheets, as well as any money-saving tips you'd like to share.

Consumer Victory in Important Credit Reporting Case

2009-11-17T10:26:00.000-08:00

Following years of litigation, on October 21, 2009 the Ninth Circuit has finally resolved that the federal Fair Credit Reporting Act ("FCRA") does not preempt California's Consumer Credit Reporting Agencies Act ("CCRAA"). For years, large banks, finance companies and debt collectors have argued that the federal law preempts the state law, in essence rendering the state law null and void. The Ninth Circuit's ruling opens the door to California consumers holding banks and other corporations accountable under the CCRAA.

Robert F. Brennan, Esq. of Brennan, Wiener & Assoc. (my coauthor on the California edition of Debt Collection Answers) co-authored the amicus brief on behalf of California consumers with Leslie Bailey, Esq. of Public Justice in Oakland.

Brennan explains the significance of the ruling: "Ever since the CCRAA was passed in 1975, banks, finance companies, credit card companies and debt collectors--furnishers of credit information to the credit bureaus--have hated it because it requires them to respond directly to consumers and to investigate false derogatory credit information when a consumer notifies them. Under the federal law, consumers must dispute false credit information directly with the credit bureaus before they can bring an action in court. Because consumers who learn of false information on their credit reports are frequently unaware of this requirement, they often contact the furnishers of the credit information--banks, credit card companies, finance companies and debt collectors--directly. Furnishers, meanwhile, had no legal incentive to act on the consumers' requests, nor to inform the consumers of the federal requirement that they "filter" disputes through the credit bureaus. This system strongly favored big banks and credit card companies over unsophisticated consumers.

"The CCRAA does away with this injustice by permitting consumers to sue in court after they dispute false information directly with the furnishers. If the furnishers do not correct the inaccurate information upon direct contact from the consumers, the furnishers are immediately subject to legal relief in the courts.

"It is unfortunate that consumers still need to resort to the courts to correct inaccurate credit information, but it is often necessary because furnishers often use false credit reporting to wrongfully extract money from people who don't even owe it, or who owe far less than is being collected. In this day and age when credit reports are used almost universally, credit reporting is a powerful tool, and this fact is not lost on the big banks, credit card companies, finance companies and debt collectors that use credit reporting to force consumers to pay debts, whether or not the debts are valid."

Brennan notes that several big banks and several credit card companies, including Bank of America and VISA, have petitioned the United States Supreme Court for further review of this decision, but he predicts that the Supreme Court will decline to review it. "I do not see any compelling constitutional issue which deserves Supreme Court review. Maybe the big banks and credit card companies don't like the Ninth Circuit decision, but they'll have to live with it, and California consumers are the ones who will benefit in the long run. Finally there will be a law which will make the big banks, credit card companies and debt collectors actually pay attention to their false credit reporting and actually correct it when it happens. I hope that the Ninth Circuit decision makes fair credit reporting a reality in California."

Contact Information: Robert F. Brennan, Brennan, Wiener & Associates, 3150 Montrose Ave., La Crescenta, Ca. 91214, (818) 249-5291. Mr. Brennan and his firm are the leading consumer protection and credit damage attorneys in Southern California. Mr. Brennan has been selected as a "Southern California Super Lawyer" for four consecutive years.

Public Justice is a national public interest law firm that specializes in precedent-setting and socially significant civil litigation and is dedicated to pursuing justice for the victims of corporate and governmental abuses.

How to Get Your Book Published Successfully

2009-11-17T07:10:00.000-08:00

This morning I spoke with an author who was referred to me by a colleague. He has written a book and is hoping to find an agent so he can get his book published. The memoir he has written sounds wonderful, and I am looking forward to reading it.

Because I am a published author of five books, I get these kinds of questions periodically from friends and colleagues who hope to write or publish a book. As I recounted in a previous post, So you want to to be an author?, there are a couple of resources to which I refer aspiring authors. I have a couple more I'd like to share with you.

This past year I had the pleasure of getting to know Stephanie Gunning. She is a bestselling author, editor, and publishing consultant specializing primarily in books on the topics of health, spirituality, personal growth, and new thought.

Stephanie offers several programs for aspiring writers, as well as those who have been published and actually want to see their books sell:

7 Quick & Easy Steps to Write AND Sell Your First Book Proposal

Partner with Your Publisher, and her newest program:

Get a Book Deal™ Proposal Coaching

I can't recommend Stephanie highly enough.

The other person I want to recommend is Mary Reed. Mary is my coauthor and publicist for Debt Collection Answers: How to Use Debt Collection Laws to Protect Your Rights. Mary is a very talented ghostwriter, author, and publicist. She has authored or coauthored 19 books, including several in the popular Dummies series.

In addition, publishers hire her to help authors promote their books. (Or they urge the authors to hire her to do so!)

Mary is talented and creative, and very affordable. Again, I can't recommend her highly enough. I've worked with her for over ten years now, and have only good things to say about her work.

If you are serious about your book, I would strongly recommend you partner with a professional. As I mentioned in my previous post, publishers will rarely invest in more than minimal marketing of your work. It's up to you to make your book a success, and these women can help you achieve that.

Listen to My Radio Interview with Marc Perlman

2009-10-05T08:12:00.000-07:00

I spent an hour with Marc Perlman, host of Money Matters Radio. We spent an hour talking about the new Credit CARD Act, debt solutions and debt negotiation and more! You can listen to it now at the Money Matters Radio website.

Let me know what you think!

Debt Negotiation: A Bright Side to the Dark Side

2009-09-17T06:17:00.000-07:00

I'll admit I have taken some heat for recommending debt settlement as a sometimes appropriate solution to overwhelming debt. In fact, I devote an entire chapter in my latest book, Reduce Debt, Reduce Stress to this approach.

In the book, I encourage consumers to check with a credit counseling agency and a bankruptcy attorney before talking with a settlement firm. Most bankruptcy attorneys are not fond of settlement, though I've talked with an increasing number of people recently who said their attorney recommended they consider settlement when filing wasn't an option.

One of the points that sometimes gets lost in this discussion is the fact that consumers who do successfully settle their debts pay back at least some of what they owe to their creditors. The trade association for that industry, TASC, revealed recently that the industry returned more than $2.2 billion in consumer debt last year. In addition, TASC’s research shows more than $500 million in settlement funds saved by consumers are available to credit card companies today.

The fact that these debtors are paying back some of their debt, rather than erasing balances in bankruptcy, has to be positive news to creditors. Losses hurt either way, but something is better than nothing. And most people I speak with want to pay back as much as they can and avoid bankruptcy if they can.

Credit Strategies for Business Owners

2009-08-27T10:21:00.000-07:00

I've been a fan of consumer journalist Chris Bjorklund for many years, and recently reconnected with her. I discovered she is now with the very comprehensive business website AllBusiness.com. She interviewed me about new credit strategies for business owners in this tough economy. You can listen to the business credit podcast here.

Comments welcome!

Is Shopping Ruining Your Life...or That of Someone You Love?

2009-08-25T11:12:00.000-07:00

Then you'll want to check out Stopping Overshopping, LLC: Founded by nationally known psychologist Dr. April L Benson, Stopping Overshopping, LLC is an organization created to help individuals who suffer with this problem, train professionals who want to enhance their theoretical and technical skills in working with overshopping clients, and raise public awareness about the disorder. The organization maintains an informative website, www.stoppingovershopping.com, with information about the disorder, resources for overshoppers and their families, and links to relevant books, articles, videos, and websites. There is also an online press kit and a schedule of Dr. Benson's upcoming media and speaking engagements.

Debt settlement, rainbows and unicorns

2009-08-24T09:55:00.001-07:00

Debt negotiation expert Michael Bovee at Consumer Recovery Network sent me this blog post and I believe it's important to share it with you. It illustrates a common problem in the settlement industry - sugar coating of how debt settlement really works. Your comments are welcome!

Dude Meets Debt Wall

8/19/09

Settlement with creditors is a great way to deal with debt when you are unable to maintain consistent payments. It is however, not a cake walk, though many in my industry will sell it as such.

This post was inspired by a consult I did this morning with a gentleman in Pennsylvania looking at settlement as an approach to dealing with his unmanageable debt. He wondered onto our website while searching out his options, after having already consulted with another company in the industry.

His unsecured debt totaled $22,000, spread out over 7 accounts. His minimum payments are just over $900.00 a month. His interest rates on most of the accounts are over 20%. That is what’s killing him. He would be able to meet minimums, but for the higher interest, and likely be very successful using an aggressive debt rollup, or debt snowball strategy, to get out of debt quickly and unscathed. His plight, when outlined to creditors, has thus far resulted in “Dude meets wall”.

The company he consulted with prior to me outlined a 36 month program where he could pay into an account roughly 300.00 for 36 months and poof, his debt is gone. Never mind that $3300 of that money set aside over that time will go to the settlement companies fees, I’ll get to that in a moment. The sales person with whom he consulted is selling rainbows and unicorns for a commission. The 36 month plan for his situation is ridiculous for some of the following reasons.

Two of the accounts we discussed have balances of about $1000.00 and another one for $1500.00. Enrolling these accounts in a plan like this, unless they are the first ones settled (even then not advisable, unless left with no choice) is futile and silly. The math doesn’t work. Optimum balance reduction through settlement only happens when you are delinquent, often very delinquent (5 months or more). When you stop paying, default interest rates of 29-32% will be applied, late payments will be assessed, all of which could result, in some cases, in over limit fees being tacked on. Depending on when settlement is reached the amount of the debt could now be double. Can the debt be settled? Absolutely, but using 50% savings as an example, what did you actually save? Nothing, or close enough to nothing to prove that the math doesn’t work.

What if we take these 3 smaller accounts out of the equation? We are now working on $18,000. By aggressively saving and setting aside every penny, this family could be out of debt in less than 12 months and limit to near nonexistent, the risk of being sued on unpaid debt.

Now, I was completely upfront with this consumer about the way I saw his situation and perhaps he appreciates the candor and becomes a member. Perhaps the other consult he had sounded more appealing, with its 36 months, low (too low) payment to his savings for settlement and easier sounding approach. He will pay the typical fee in this industry, which by their very nature is harmful to the settlement process. The sales person will make his commission (some cases I have seen, commissions are in excess of 70% of client fee) for selling rainbows and butterflies.

He may ultimately be out of debt in 36 months, but it will have been a very long 36 months, and he will have paid too much, experienced too much grief, may be sued on one or more accounts and may miss out on strategies that could have been beneficial to recover his credit standing much faster (this is whole different topic for another post).

Moral to this post: Don’t buy into rainbows and unicorns unless you are into paying a sales guys bills when you cannot afford your own. The settlement industries frontline is, for the most part, populated by sales people motivated by commissions. Rarely do you find a place you can consult with, where you are talking to an experienced debt specialist on first contact prior to forking over fees.
If you have hit the debt wall and want to learn about all of your debt management options, including debt settlement, visit ConsumerRecoveryNetwork.com. While you’re there, learn about becoming a member of Consumer Recovery Network (CRN), with no risk to you, and find out if you should pursue debt negotiation.

By: Michael Bovee
CRN President

Disclosure: CRN is one of the few companies I think is doing a good job with a consumer-friendly model and, as such, I an affiliate. For my income disclosure, scroll down the right hand column of my blog. Unicorn image compliments of Webweaver.

Looking for a Rewarding New Career?

2009-08-06T06:34:00.000-07:00

My good friend and mentor Karen McCall trains Financial Recovery Counselors, a profession she developed and perfected over two decades of coaching clients to financial health. She has just a couple of slots open for her last training program for 2009.

Would you enjoy working with individuals, couples and/or small business owners to help them change their relationship with money? Are you a coach, therapist or social worker, looking for a way to set your practice apart and make it more rewarding (financially and professionally)?

Then Karen's training program may be just what you are looking for! I've been trained by Karen myself and I can tell you that her training program is phenomenal.

If you join the training program starting in September, you can begin January 2010 as a Financial Recovery Counselor! (And believe me, January is the perfect time of year to get started. That’s when lots of people decide they need to change their financial lives.)

Recently Karen announced changes to her training program that make it more affordable than ever – but just as effective. What she hasn’t changed is her commitment to keeping the classes small so that every counselor gets the full benefit of training and mentoring. So when this class is full, she won’t be taking on any additional students this year.

This is also very likely the last class where Karen herself will personally be doing the majority of personal mentoring with her students. (Part of the course includes being mentored and working through the process yourself.) Karen retired from counseling clients last year to focus on training. Now some very exciting developments in her career are in the works, and the next step will be for her to allow many of her experienced counselors help deliver training and mentoring.

So if you know there are things about your own financial life you’d like to change, and you like the idea of working with Karen directly, consider this opportunity to join her through the Financial Recovery Counseling training program that starts in early September.

You can go to her website to set up a time to talk with her about the training. Rest assured, it will not be a high-pressure pitch. Rather, it’s an opportunity for both of you to explore whether this may be a good fit.

A Sobering Look at Student Loans

2009-07-22T07:17:00.000-07:00

Parents, if your kids are headed to college, please watch this. Those who are thinking of borrowing to pay for student loans, watch this. Borrowers saddled with student loan debt, watch this.

Default Trailer 3/18/09 from Default on Vimeo.

How Can You Get Rid of Your Student Loans?

2009-07-20T06:03:00.000-07:00

Student loan debt is often considered "good debt." That's until you can't pay it. Then it becomes bad debt - very bad debt - very quickly.

It is very difficult to wipe out student loan debt in bankruptcy. And if keep your loans in deferment or forbearance, your balance is likely to grow, making it that much harder to wipe out the debt.

If you are struggling with student loans, make sure you check out the new IBR program which offers some relief for student loan borrowers. And also be sure to visit StudentLoanJustice.org, an advocacy project created by one borrower who got burned.

Are You Stressed Out About Debt?

2009-07-17T07:53:00.000-07:00

Here's an interview I did about debt and stress that you may want to hear.

Should You Tap Your Retirement Money to Pay Debts?

2009-07-10T07:58:00.000-07:00

Many people are cashing out their retirement accounts such as 401Ks, IRAs or pension accounts to pay debts. Others are borrowing against those accounts. But as I point out in my newest book, Reduce Debt, Reduce Stress, there are definitely cons to this strategy that often outweigh the pros. In this YouTube video a New York bankruptcy attorney weighs in:

<a href="http://www.linkedtube.com/RdYem1q7Plwd59a16187762980bf8a8f749f350a973.htm">LinkedTube</a>

Transform Your Money Life - Free Teleseminar

2009-06-30T15:34:00.000-07:00

One of the best things about the work I do is all the amazing people I get to meet. My newest brilliant colleague/friend is Bari Tessler, a financial therapist and bookeeper who is helping clients transform their relationship with money.

Bari is offering a free teleclass, and I want to make sure I share the details with you. After talking with Bari, I can assure you that you'll love her and the class. Here are the details...

Get your financial life in the right place!

Join Financial Therapist and Founder of Conscious Bookkeeping, Bari Tessler, for a complimentary information packed 90 Minute Teleseminar on the Conscious Bookkeeping philosophy and the Level I: Wake Up With Money Course -----Next Course Starting in July!

When: Wednesday, July 8th

Time: 5:00 - 6:30 p.m. Pacific Time

Where: Dial In: 1-218-936-4700 Password: 940061
Cost: Complimentary

Spend the 90 Minutes being inspired, learning practical steps and receiving wonderful guidance regarding how to increase your clarity, intimacy, knowledge, ease and success with your relationship to money.

No need to register, just hop on the call and enjoy!

Then do me a favor, come back here and tell me what you thought about it!

Credit.com's Freebie Summer Giveaway

2009-06-12T07:53:00.000-07:00

Want to win a free copy of my newest book, Reduce Debt Reduce Stress?

Or A FREE Score Power report provided by myFICO (includes credit report and FICO score from www.myFICO.com)?

Or even a $100 Visa gift card?

Then be sure to sign up to follow Credit.com on Twitter/CreditExperts

The week of June 22nd we'll be giving away all kinds of free stuff. All you have to do is follow our Tweets, answer the questions given (you'll get hints), and you'll be entered to win that day!

Get details of the freebie giveaway here.

Easy, fun. Give it a try!

Free Financial Literacy Song & Book

2009-06-11T07:10:00.000-07:00

Below is a FREE song and saving lesson plan that can be used at home, in school, in automobiles or other venues. Use it yourself and/or provide it to parents, educators, trainers, colleagues and other organizations to use.

Empower yourself. Empower others. Start today, because compound interest is always working for or against you!

SONG and LESSON PLAN
Song - Get in the Habit!: http://www.itsahabit.com/song.mp3
Lesson for Get in the Habit!:

Steps

1. Read and learn lyrics to the chorus of song together with child/student.
Chorus
Get in the habit, like Sammy Rabbit
Saving money all the time
You can do it, now lets get to it
From every dollar, save a dime!

2. Listen to song and sing along together with child/student.

3. Discuss the following with with child/student:

What is the main idea of the song?
a) Make spending a habit
b) Make saving a habit
c) Make shopping a habit
d) All of the above

The word "habit" in the song means:
a) To do something once in awhile
b) To rarely if ever do something
c) To do something again, again, and again
d) All of the above

How much does the song suggest you get in the "habit" of saving?
a) From every dollar save a dime
b) From every dollar, spend a dime
c) Save whenever you want to
d) All of the above

What do you "predict" will happen if you get in the habit of saving?
a) Your savings will grow and grow
b) You be better prepared for an emergency or rainy day
c) You be better prepared to make dreams come true
d) You be better prepared to help yourself and others
e) All of the above

When should you start the habit of saving?
a) On your birthday
b) On a holiday
c) Right away
d) None of the above

4. Have the child/student make a list and draw pictures of things (goals) they can begin saving for

5. Have the child/student make a list of things they can do to earn money and start saving
a) collect recyclables

Hope Is In The Cards Campaign

2009-06-01T11:30:00.000-07:00

Russ Haan is a small business owner who, like many others, is going through tough times. He says he has depleted his savings, retirement plan and credit lines just to keep his employees. He's cut his own pay and is trying to help out family members.

But instead of giving into despair, he is reaching out to help others with his campaign, Hope Is In The Cards. The premise is pretty simple. When you mail a card, write the word Hope on the back of the envelope. The goal is lofty: 300 million messages of Hope circulating the country (and perhaps the globe).

Far fetched? Pollyanna-ish? My guess is that like the Pay It Forward message, it's going to catch on like wildfire. And if it makes just one person feel a little better today, that's one step in the right direction.

The Secret to Success

2009-05-30T16:02:00.000-07:00

You don't have to send your kids to expensive private schools...buy them the latest educational toys. The secret to lifelong success is revealed right here in this video:

Here's the question...would you have eaten the marshmallow????

Are You Ready to be Healthier and Wealthier?

2009-05-29T10:28:00.000-07:00

On Monday June 1st (is it already summer???), my friend and mentor Karen McCall, founder of the Financial Recovery Institute, will be the guest expert in the teleclass series, Hidden in Plain Sight: Secrets of Lasting Financial Health hosted by Adoley Odunton. Karen will be helping you understand how to stop underearning - yes, even in this economy!

The teleclass will be held on Monday June 1st from 5pm – 6pm Pacific Time. Did I mention that it's free? You can register here.

I always get a wealth of great information and a healthy dose of inspiration when I hear Karen speak. I'll be on the call. Will you?

Want to Learn All About Credit Reports and Scores?

2009-05-27T08:48:00.000-07:00

Then join me next Tuesday June 2nd, 2009 when I'll be a guest on the MoneyWise Women Get Smart Program. I'll explain how to understand credit scores, and maximize yours!

The Money Wi$e Women Get Smart program is just $9.95 per month and here's what you get:

* Access to live monthly interviews with financial experts
* Access to a mp3 you can download of these life changing interviews
* Access to periodic exclusive insider conversations with female financial authors
* Access to Marcia's Brixey's Five Strategies for Creating a Healthy Financial Life which have helped hundreds of women
* 10% Discount to all Money Wi$e Women conferences
* Surprise Bonuses! We can't tell you what they are just yet, but we do know that it's important to thank those who support us. We will share with you special bonus materials from both our monthly guest speakers and our archives.

You can learn more and register here. If you just want a recording of my teleclass, you can also purchase that separately.

I hope you'll join us!

Which is Better for Your Credit: Short Sale or Forclosure?

2009-05-26T13:45:00.000-07:00

Homeowners in trouble are asking whether a short sale is better for their credit than a foreclosure. As my colleague John Ulzheimer points out, though, a short sale will have just as negative an impact on one's credit as a foreclosure, unless the lender chooses not to report the short sale. That's fairly uncommon, though. John, who worked for both Equifax and FICO and serves as an expert witness for many legal cases involving credit scoring, says there is no universal way to report a short sale. The credit reporting agencies currently do not have a status code or narrative specific to “short sale.” (He also says this should and could change).

John has seen short sales show up as either charge offs or settlements, both of which are accurate. If the lender charges off the deficiency balance then it will likely be reported as a charge off. If the lender accepts less than the full amount it may be reported as a settlement. Either one can cause your score to drop like a rock, if it's not already damaged by other negative information.

Unfortunately, there is a lot of misinformation floating around, perpetuated by short sale real estate agents and other “experts” who spread the myth that a short sale is not as damaging to your credit as a foreclosure.

Recently, reporter Aleksandra Todorova at Smartmoney.com wrote an excellent article in which she dispelled some of the myths around short sales.

Read Real Estate Short Sales

There may be some good reasons for choosing to sell your home with a short sale versus going through foreclosure. But trying to hold on to your credit isn't one of them.

Starting or Growing a Business? Don't Miss Out on this Free Teleseminar...

2009-05-15T07:51:00.000-07:00

"Entrepreneurs are optimists," says my friend and colleague Stephanie Gunning, host of the inspiring Audacious Creativity webinar series. On Wednesday, May 20, at 5 PM Pacfic/8 PM Eastern, she'll interview master entrepreneur, Allison Maslan, who has created nine successful businesses since she was 23, including an ad agency, a homeopathic college, and a hair salon. Maslan, author of Blast Off, knows firsthand how to turn passion into profits.

Gunning's 60-minute webinar, "Creating Financial Freedom By Starting Your Own Business: Why Losing (or Leaving) Your Job Might Be the Very Best Thing That Ever Happened to You," is free of charge to anyone who registers. It can be attended by phone or via the Internet (it's your choice). Register here.

Microsoft chief executive officer Steve Ballmer told Stanford University students last week that it's a mistake not to love your job. Acknowledging our tough times, he reminded them that there is still more venture capital available than innovative ideas for its use. Paradigm shifts in technology are creating opportunities in every field. We have to give ourselves permission to go and grab those opportunities when we see them! This webinar is a good place to begin if you're ready for change--or had one forced on you.

Maslan and Gunning are going to talk about:
* What makes this a good time to start a business venture
* Tips to figure out what kind of business to start
* The cardinal rule of business success
* How to stay motivated and positive when you are surrounded by naysayers, doubting relatives, and environmental negativity

Again, the sign up link is: http://www.stephaniegunning.com/teleseminar

Note: I'll be flying into DC that afternoon for a webinar I'll be hosting for union members through Union Privilege, so I am not sure if I'll make the live webinar. But Stephanie is generous enough to offer us a recording of the call, so I've registered. I don't want to miss out - do you?

Free Retirement Book, Advice from Humana

2009-04-29T06:58:00.000-07:00

I happen to be a Humana member, and recently I came across their new website RealForMe.com, which offers free advice on a variety of issues for baby boomers. And they are also giving away a free copy of a custom book Retirement for Dummies. You can order it online to download immediately, or you can request a mailed copy. You can learn more in this article I wrote about the RealForMe.com campaign for Credit.com.

Elizabeth Warren on The Daily Show

2009-04-16T09:39:00.000-07:00

In case you missed it, Harvard Law Professor Elizabeth Warren gave Jon Stewart some Chicken Soup for the economy on the Daily Show. If you have questions about TARP, PPIP or the other financial acronyms going around these days, this one is a must-watch!

TransUnion.com: Mortgage Loan Delinquency Rates Rise for Eighth Straight Quarter, Rising 53 Percent Between End of 2007 and Conclusion of 2008

2009-03-23T06:20:00.000-07:00

TransUnion.com: Mortgage Loan Delinquency Rates Rise for Eighth Straight Quarter, Rising 53 Percent Between End of 2007 and Conclusion of 2008

TransUnion.com Quarterly Credit Card Analysis Reveals Delinquency Rates up 11 Percent From Previous Quarter; Signs of Moderating

2009-03-23T06:19:00.000-07:00

TransUnion.com Quarterly Credit Card Analysis Reveals Delinquency Rates up 11 Percent From Previous Quarter; Signs of Moderating

The Obamas Are Planing A Victory Garden - How About You?

2009-03-21T12:03:00.000-07:00

I have a black thumb. Nearly everything I try to grow dies.

But I come from a family of home gardeners and I refuse to give up. Growing up, I would bicycle over to our family garden (at a nearby friend's house) to help harvest, and despite my complaints about having to help, there really was something wonderful about our fresh garden vegetables. (Yes, Dad, you were right!)

Recently I had dinner with a good friend from college (Cindy is a fabulous gardener) and she was raving about a book she read, The Omnivores Dilemma. She talked about how important it is to start our own small gardens for growing some of our own food, and mentioned that she wished the Obamas would set an example.

So here I am flipping through AARP magazine the following week and I discover a website encouraging the Obamas to start their own garden! (Funny how that works isn't it?)

I just visited that website EatTheView.org today and discovered the Obamas are starting their own victory garden!

As for my own efforts, when my parents were visiting recently, we went to Ellenton FL for a free gardening class with the inventor of The Earth Box, a nifty planter that is designed for people just like me. The Earth Box guarantees your plants will get exactly the right amount of water and nutrients, and grow abundantly. As long as I add water the box, I can't go wrong they say! So I bought one filled with kitchen herbs for my first attempt. So far I am enjoying fresh lettuce, parsley, mint and dill. If I can keep it alive until fall, I'll get buy some more Earth boxes and attempt to grow tomatoes and some other veggies for a fall garden. We'll see....

Review of Kevin Trudeau's Debt Cures They Don't Want You To Know About

2009-03-19T06:01:00.001-07:00

I am a fan of the Bankruptcy Law Network, Credit Law Network and Debt Law Network blogs. Written by consumer attorneys who are on the front lines helping consumers in distress, I find them informative and interesting.

Case in point: Attorney Karen Oakes from Southern Oregon is now reviewing Kevin Trudeau's book, Debt Cures "They" Don't Want You to Know About. She reviews his advice chapter by chapter, and has good insights into the accuracy of his advice based on her experience as a debt relief attorney. I recommend you read her review of Debt Cures if you want to get an expert opinion on the book.

Keep A Roof Over Our Children's Heads

2009-03-16T09:11:00.000-07:00

As a parent, I cannot imagine anything more devastating than becoming homeless. Yet, due to the housing crisis, one out of fifty children are now homeless and these numbers are only expected to worsen as 2.4 million families are projected to lose their homes this year. A Brookings Institution study found that losing the family home can have a devastating effect on children's educations, as well as their physical and emotional welfare.

Our Senators will soon be voting on crucial legislation to help keep more families in their homes by allowing judges to modify mortgages for families in bankruptcy. I have studied and written about this issue for more than a year now, and feel very strongly that it is vital to helping restore stability to our housing market. Although the House has passed similar legislation, it faces a very tough fight in the Senate.

I urge you to please take a look this issue. If you agree that we must put an end to the increasing number of homeless families, and force lenders to work with consumers who have the ability and desire to pay their mortgage under modified terms, then contact your Senators to tell them that you want them to support the "Helping Families Save Their Homes in Bankruptcy Act" now. This commonsense measure won't cost taxpayers a dime - and could keep thousands, if not millions, of children from becoming homeless. Please go to MomsRising to learn more and take action now.

Looking for a Truly Free Credit Report?

2009-03-10T06:45:00.000-07:00

The FTC has launched a campaign to help consumers find truly free credit reports. Here's one of their two new videos:

Checking out A Debt Settlement Company? Don't Ask the Better Business Bureau

2009-03-05T18:33:00.000-08:00

2011 Update to this story:

The Better Business Bureau has announced it is reviewing its rating system and updating them when appropriate.

All of the companies that I recommend for debt settlement have earned A ratings!

Many people think of the Better Business Bureau as an impartial reviewer of businesses. It's almost taken on a quasi-governmental aura.

Want to research a company? The standard advice is, "Check with the Better Business Bureau."

But as a recent LA Times article points out, the BBB is not entirely impartial. The article describes how Wolfgang Puck's popular Spago restaurant cannot earn a top rating until it joins (and pays a membership fee to) the BBB.

A lack of objectivity is also true true when it comes to researching debt settlement companies. Although in this case, it doesn't even help to join the BBB. If you're in the settlement business, you're bad.

The Association of Settlement Companies (TASC) has written a letter asking the BBB to reconsider its rating system for settlement firms, and raises the following issues:

• Rating system. Under the new rating system, it is virtually impossible for a debt settlement company to be rated anything other than a ‘D’ or ‘F’, thus eliminating the difference between good companies and those deserving poor ratings.

• Acceptable standards. Though TASC holds its members to the highest of business standards and ethics, the BBB has stated that self regulation, standards, disclosures and accreditation mean nothing—in other words, no set of standards are acceptable.

• Solutions to debt. The BBB refuses to concede that debt settlement is a viable option and thus concludes a consumer should simply struggle with collections and debt rather than seek debt settlement as a solution.

Debt settlement has been attacked on many fronts. And believe me, I am the first to agree that there are some companies out there who are gouging consumers with high upfront fees, and probably won't be around when their clients are trying to settle years from now. But that does not mean all settlement companies are bad.

For my forthcoming book, Reduce Debt Reduce Stress, I interviewed two people who were only able to get out of debt through settlement. They couldn't pay back their debts through credit counseling, but didn't want to file for bankruptcy. Debt negotiation allowed them to do the right thing and pay as much as they could to resolve their debts.

I asked the Council of Better Business Bureaus to clarify their position and they confirmed in writing to me that their current rating system is the result of their concerns about settlement.

In a conversation with Wesley Young, the legislative director for TASC, he said, "All we're asking is that the BBB rate these companies individually." If the BBB wants to preserve its position as a reliable resource for consumers, that seems fair to me.

What do you think?

Consumers Report Credit Card Rate Hikes, Lower Credit Limits

2009-03-04T18:12:00.001-08:00

According to a new survey for National Consumer Protection Week (March 1-8) from Credit.com, a third (33.7%) of consumers say their credit card company has made one or more of the following changes to their credit account:

Increased their interest rate 15%
Increased their minimum payment due 11%
Changed their due date 9%
Lowered their credit limit 8%
Reduced their rewards program 8%
Closed their account 7%

And in last week's blog, Arianna Huffington asked readers to send in their stories of facing rising interest rates and hidden fees from their credit card companies. Over the week, they received over four hundred personal accounts. This overwhelming participation helped tell the story of how policy changes at major credit card companies have adversely affected people across the country. They also reported on the range of rate changes that credit card holders have faced due to no fault of their own.

Check out the coverage of the credit card crisis here, and here.

Did Capital One Close Your Account?

2009-02-25T07:00:00.001-08:00

My colleague Scott Bilker at DebtSmart.com has written a very interesting article on Capital One's decision to close over a million customer accounts. His insight comes from someone who works there in customer service. (It does make me feel some sympathy for those people who have to answer all these calls from customers. Can't be a fun job these days.)

What do you think? Has your credit card issuer closed your account? What kind of response did they give you when the contacted you?

Free Audio: Love and Money Available For Download

2009-02-16T09:01:00.000-08:00

If you missed Karen McCall's free teleclass, Love and Money, you won't want to miss this opportunity to download the free audio recording? In her teleclass, she gave some excellent strategies for couples of stop fighting about money and start working together.

You can download the audio program here. While you're at it, be sure to register for her next class: Conquering Financial Fear, coming up this week February 19th, 2009.

Listen to My Interview With KGO Radio

2009-02-12T09:02:00.001-08:00

This week I had the opportunity to be interviewed not once, but twice, by radio host Gil Gross. I considered this to be quite an honor, as Gil is a top radio journalist.

For an hour we discussed all things credit -- from credit scores, to debt collectors, to rebuilding solid credit. You can listen to the interview at the KGO website (Feb. 10, hour 2) or you can download it here to listen on your mp3 player or ipod.

Your comments are welcome!

CNBC Documentary: House of Cards

2009-02-11T11:45:00.000-08:00

Tomorrow (Thurs Feb 12), the CNBC Original "House of Cards" will premiere at 8p ET / 9p PT on CNBC. See how the American dream became a nightmare. Americans are facing the most crushing economic crisis since the Great Depression. Emmy, DuPont, and Peabody Award-winning correspondent David Faber investigates the defining story of our time with inside accounts from key players, tracing the origins of the calamity from Main Street to Wall Street to Washington.

Just a short time ago it would have been inconceivable: the economy, here in the U.S. and around the world, stopped in its tracks. Today, it is a grim reality, with bailouts, bankruptcies, and massive layoffs all stemming from a complex problem with a simple name: the credit crisis. "House of Cards" explains how we got here.

Watch preview and see web extras, and check out the trailer. And be sure to tune in!

Don't Miss this Free Teleclass: Love and Money

2009-02-09T07:37:00.000-08:00

With Valentine's Day fast approaching, I know there are some couples who are feeling less than romantic this year. They're stressed about their financial situations and the tension is leading to arguments, fights, nights on the couch or even thoughts of splitting up.

One of my mentors and dear friend, Karen McCall, is here to help. She is offering a free teleclass this week called "Love and Money: Hope, Help and Healing." If you are in a relationship, she will show you you how to draw closer to your partner during these turbulent economic times. If money worries have left you angry, stressed or resentful toward your partner, she says it's important to understand those are normal emotions. Left unchecked, however, they can tear your relationship apart. Karen will help you use them to heal your relationship and make it stronger.

This is not one of those "disguised sales pitch" classes. Karen is truly reaching out to help. After working with individuals and couples for more than twenty years one-on-one, she understands the pain and problems, and knows how to find solutions.

The teleclass will be held on the phone this Thursday February 12th, and I can't recommend this highly enough. If you can't make it, register anyway, as she will offer the mp3 recording free after the class. But if you can make it live, it's a unique opportunity to learn from a true master!

Karen doesn't work with clients one-on-one anymore, she has devoted herself to training Financial Recovery Counselors. So you won't want to miss the chance to learn from her.

To register, simply go to the Training Page of FinancialRecovery.com

Get Suze Orman's New Book - It's Free!

2009-01-13T07:16:00.000-08:00

Suze Orman's newest book is out...and you can download it for free! Suze Orman's 2009 Action Plan, is available for download on Oprah's website. It's got lots of great, timely advice on what to do if you are in financial trouble -- or if you just want to avoid it.

If you have read it, what's the best tip you gleaned from the book? More importantly, what are you doing to take action on Suze's advice?

An Hour of Credit Advice for the New Year

2009-01-08T09:53:00.000-08:00

This Thursday I was a guest on Cathy Lewis' popular radio show Hear Say. Unfortunately Cathy was sick, but Barbara Hamm Lee stepped in without a hitch.

If you are looking for credit advice, I would strongly recommend you listen to this show. There were so many callers with great questions, that after the interview I thought that it couldn't have been better if I had asked people to call in with questions I suggested!

Our conversation ranged the gamut, from how credit counseling affects your credit scores, to considering debt settlement, to dealing with debt.

I hope you enjoy it!

Get Answers to Your Credit Questions

2009-01-05T13:43:00.000-08:00

Do you have a credit question? Get answers on the Credit.com forum. I'll be answering questions along with John Ulzheimer, our resident credit scoring and credit reports expert, as well as the expert staff at Credit.com. It's free!

Debt Settlement Booming

2009-01-03T13:51:00.000-08:00

Debt settlement has been one of the hottest topics on this blog, judging by reader response. Now a New York Times article confirms that credit card companies are settling debts for less than the full balance. The article does not refer to the debt settlement industry, except in a brief mention at the end. Instead it focuses on how hungry creditors and collectors are to get paid something, anything, in this weak economy.

It also points out that settling bills is not without some sacrifice. Your credit score will be significantly affected, but for consumers who are looking at no other alternative but bankruptcy, this can be a legitimate way to pay what you can.

If you are interested in learning more about settling your debts, be sure to check out the links to the other posts on this topic at the top right hand of my blog.

New Credit Card Regulations: What Do They Mean?

2008-12-29T12:06:00.000-08:00

Right before the holidays I was interviewed by Woman's Wisdom Network founder and dynamo Terri Murphy. She and I talked about the new credit card regulations -- the good and the bad of them. She's planning on putting up a podcast on her site shortly and I'll link to it when she does. But in the meantime, you can check out her advice on credit card traps in this news video. (Scroll in about 4:40 into the clip and you'll see Terri come on with advice.)

Auto Loan Financing Strategies

2008-11-12T06:08:00.000-08:00

Auto lending is getting tougher by the day. I was recently interviewed for a story about your options if you need to finance a vehicle and have bad credit or challenged credit.

You can read Part 1 here.

Read Part 2 here.

And let me know what your experiences with vehicle loans have been recently!