Archive for the ‘Debt Reduction’ Category

The good news for this couple with $90k in credit card debt

Sunday, April 20th, 2008

They make $150k per year.There should be a bit of slack in your budget when a couple makes six figures between them, right? I suppose it makes a difference where they live, how much house they have, and possibly other circumstances a bit beyond their control, but $150k per ...

Removing the HELOC temptation

Wednesday, February 27th, 2008

Lenders are starting to pull the plug on borrowers' home equity lines of credit in light of the falling value of the collateral properties.  They're lowering limits or freezing the accounts, preventing the homeowners from borrowing more against their equity.Banks have certainly not been shy about giving borrowers more rope ...

A credit card for debt reduction

Sunday, February 10th, 2008

This week I called up my mortgage broker to get my online account unlocked (I was a dummy and forgot my username/password) and during the restoration process the customer service person offered me a credit card "based on my activity in my account."  (In other words, I had a pulse.)Normally ...

Thoughts on Maxed Out

Thursday, September 27th, 2007

This movie by now is old news in the finance blogging community but I watched Maxed Out last night.  It shows interviews with these folks, among others:A woman who spent years (I think) reclaiming her credit record and good name after someone thought that she had died rather than her ...