credit

College, credit and identity theft

We ran his credit report and now the work really begins. It’s time to clean it up. There are a number of different problems with it, from fraudulent use of his name, Social Security Number, creation of a new identity using his old address and of course the big problem, unpaid items of credit, whether it was a fast cash item or credit card. “How did this happen?” he wonders.

Jail time for unpaid debts: Debtors prison making a comeback?

According to the ACLU: “The sad truth is that debtors’ prisons are flourishing today, more than two decades after the Supreme Court prohibited imprisoning those who are too poor to pay their legal debts. In this era of shrinking budgets, state and local governments have turned aggressively to using the threat and reality of imprisonment to squeeze revenue out of the poorest defendants who appear in their courts.”

What is the Restoring American Financial Stability Act of 2010 and How Will It Affect Consumers?

“Resolved, That the bill from the House of Representatives (H.R. 4173) entitled ‘An Act to provide for financial regulatory reform, to protect consumers and investors, to enhance Federal understanding of insurance issues, to regulate the over-the-counter derivatives markets, and for other purposes,’ do pass with the following …” That is how the bill known as H.R. 4173 begins. It …

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