Debt management or debt reduction doesn’t have to be painful. It’s benefits are vast and lowering the amount of debt you carry may reduce the loan rates you could receive and save you a lot in interest payments. The following video explains how it just takes a few easy steps and a little dedication to take charge of your debt. Visit TransUnion today for more information at: www.transunion.com
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Looking to get out of debt? Debt management and debt reduction tips
Greece debt crisis: PM faces vote of confidence over economy woes
Greece debt crisis: PM faces vote of confidence over economy woes www.france24.com
Humes Expects `Some Form of Reprofiling’ of Greek Debt
June 20 (Bloomberg) — Hans Humes, president of Greylock Capital Management, discusses Greece’s debt crisis and the prospects for restructuring its debt.
He speaks on Bloomberg Television’s “InBusiness With Margaret Brennan.” (Source: Bloomberg)
Duration : 0:3:28
Looking to get out of debt? Debt management and debt reduction tips
Debt management or debt reduction doesn’t have to be painful. It’s benefits are vast and lowering the amount of debt you carry may reduce the loan rates you could receive and save you a lot in interest payments. The following video explains how it just takes a few easy steps and a little dedication to take charge of your debt.
VTB’s MacKinnon Says Greece `Running Out of Road’
June 20 (Bloomberg) — Neil MacKinnon, an economist at VTB Capital Plc, talks about the outlook for the Greek debt crisis after European governments failed to agree on a payment to spare the country from default.
MacKinnon, speaking with Deirdre Bolton on Bloomberg Television’s “InsideTrack.” (Source: Bloomberg)
Duration : 0:5:6
PBS Frontline Secret History of the Credit Card
In “Secret History of the Credit Card,” FRONTLINE® and The New York Times join forces to investigate an industry few Americans fully understand. In this one-hour report, correspondent Lowell Bergman uncovers the techniques used by the industry to earn record profits and get consumers to take on more debt.
“The almost magical convenience of plastic money is critical to our famously compulsive consumer economy,” Bergman says. “With more than 641 million credit cards in circulation and accounting for an estimated $1.5 trillion of consumer spending, the U.S. economy has clearly gone plastic.”
Millions of American families use their personal, general-purpose credit cards such as Visa, Mastercard, American Express and Discover to make ends meet; credit cards have been a discreet lifeline for families in financial straits.
But other consumers, like actor and author Ben Stein, use plastic purely for convenience. While it would appear that Stein — who says he charges a small fortune every month on his credit cards — is the ideal customer, in reality, he is what some in the industry call a “deadbeat.” That’s because he pays his balance in full every month.
The industry’s most profitable customers, the ones being sought by creative marketing tactics, are the “revolvers:” the estimated 115 million Americans who carry monthly credit card debt.
Ed Yingling, incoming president of the American Bankers Association, tells FRONTLINE that revolvers are “the sweet spot” of the banking industry. This “sweet spot” continues to grow as the average credit card debt among American households has more than doubled over the past decade. Today, the average family owes roughly $8,000 on their credit cards. This debt has helped generate record profits for the credit card industry — last year, more than $30 billion before taxes.
Some experts say the profitability of credit cards really began twenty-five years ago, when the banking industry successfully eliminated a critical restriction: the limit on the interest rate a lender can charge a borrower. Deregulation, coupled with a revolution in technology that enables the almost real-time tracking of personal financial information and the emergence of nationwide banking, has facilitated the widening availability of credit cards across the economic spectrum. But for some, the cost of credit is often far greater than it appears.
According to Harvard Law Professor Elizabeth Warren, the credit card companies are misleading consumers and making up their own rules. “These guys have figured out the best way to compete is to put a smiley face in your commercials, a low introductory rate, and hire a team of MBAs to lay traps in the fine print,” Warren tells FRONTLINE.
Warren and other critics say that a growing share of the industry’s revenues come from what they call deceptive tactics, such as “default” terms spelled out in the fine print of cardholder agreements — the terms and conditions of which can be changed at any time for any reason with 15 days’ notice.
Penalty fees and rates are sometimes triggered by just a single lapse — a payment that arrives a couple of days or even hours late, a charge that exceeds the credit line by a few dollars, or a loan from another creditor which renders the cardholder “overextended” as defined by the nation’s three all-powerful credit bureaus. This flurry of unexpected fees and rate hikes come just when consumers can least afford them.
“[Banks are] raising interest rates, adding new fees, making the due date for your payment a holiday or a Sunday on the hopes that maybe you’ll trip up and get a payment in late,” says Robert McKinley, founder and chairman of Cardweb.com and Ram Research, a payment card research firm. “It’s become a very anti-consumer marketplace.”
Banking Association spokesman Yingling defends industry practices. Because the credit card business is basically unsecured lending, he says, the risks associated with the business must be offset.
But that’s of little consolation to consumers who may be in trouble. According to the Better Business Bureau, credit card and banking companies are the subject of a record numbers of complaints. “It’s not an accident that the banking and credit card business generates more complaints nationally, across the country, than any other industry…Out of one thousand industries that we track, they are number one,” says Pat Wallace, head of the San Francisco Bay Area Better Business Bureau. “There are irritated, unhappy, dissatisfied customers in this industry.”
As Professor Warren sees it, the industry is operating without fear of penalty. “There’s no regulator, and there’s no customer who can bring this industry to heel,” Warren says.
Duration : 0:56:9
How to get out of debt? Get out of debt and debt reduction tips — TransUnion – The Trusted Source
TransUnionhttp://gdata.youtube.com/feeds/api/users/transunionHowtodebt, reduce, improve, credit, get, out, of, managementHow to get out of debt? Get out of debt and debt reduction tips — TransUnion – The Trusted Source
Duration : 0:2:22
Dave Ramsey – Credit Card/Debt Collectors are SCUM
http://www.payasyousettle.com/debt-options/ My hero, Dave Ramsey, tells of abusive practices and the violation of Federal law incorporated by debt collectors – particularly credit card debt collectors. Most people do not know that they have rights guaranteed to them by the Fair Debt Collection Practices Act (FDCPA) and debt collectors knowingly and habitually break these laws in order to frighten them into paying.IT IS NOT AGAINST THE LAW TO OWE MONEY!Do not allow yourself to be lied to (example: “You’re going to go to jail if you don’t pay this” is one of their favorites!) or treated without the dignity you deserve.KNOW YOUR RIGHTS UNDER THE FDCPA:Collectors can NOT call you before 8 am or after 9 pmCollectors can NOT threaten to have you arrested or charged with a crime if you dont payCollectors can NOT continue to call after you have indicated you want them to stop (record your conversation with them, tell them you ARE recording it, write the date and time down in a journal, and follow up with a certified letter stating they may no longer call.)Collectors can NOT call friends, family members or colleagues repeatedly in order to get you to pay (they may call your acquaintances ONCE in order to track you down and may NOT mention that you owe money or give ANY information that would lead someone to believe that they are attempting to collect a debt.)For more information on your rights under the FDCPA, please visit my website at www.myarrp.com (click on the “Help With Credit” link at the top.)To the scum debt collectors reading this: We’re mad as and we’re not going to take this any more! We the People are being educated as to your tactics, garnering strength and numbers, and proposing legislation. We’ll be in touch with you…
Duration : 0:5:57
Never Ending Debt Ceiling, Same As Your Personal Credit Card Debt Limit!
Raise Debt Ceiling, No Cut Spending!Lombardi Says EU Leaders Still Divided on Greek Debt Aid
May 27 (Bloomberg) — Domenico Lombardi, a senior fellow at the Brookings Institution and a former International Monetary Fund board member, talks about the Greek debt crisis and the outlook for its resolution.
Lombardi speaks on Bloomberg Television’s “InBusiness with Margaret Brennan.” (Source: Bloomberg)
Duration : 0:4:44