So, on the Washington Post website there is a "discussion" with Beth Korbliner about personal finance for 20's and 30's. Among her sage advice was for someone holding a 20% interest cc to get one with a lower rate! Duh...did she think they hadn't tried? And that CCC was always a better option than bankruptcy This Board and others like it are infinitely more helpful than anything she offered. Unfortunately, many of those seeking her advice will be mislead.
RE: Financial Advisors giving Here is some good advice! Its written by us and is deeper then your average CCC"s ploy that so many of us hear daily. I hate it to when they pound the obvious into our heads. Hope some of you find it useful. http://www.carreonandassociates.com/Credit%20Scam.htm slan wrote: ------------------------------- So, on the Washington Post website there is a "discussion" with Beth Korbliner about personal finance for 20's and 30's. Among her sage advice was for someone holding a 20% interest cc to get one with a lower rate! Duh...did she think they hadn't tried? And that CCC was always a better option than bankruptcy This Board and others like it are infinitely more helpful than anything she offered. Unfortunately, many of those seeking her advice will be mislead.
RE: Financial Advisors giving Kristi, Your website has some very good suggestions and following them will help people greatly. However, the credit card late fee problem is still one that plagues people. You are at the mercy of the credit card company. You have no proof when they received your payment or when the payment was posted. I notice that one credit card company has been charged with delaying the posting of payments, just to charge late fees. This is the worst scam to date and the public has no control. It used to be if you made at least double the minimum monthly payment, then you had a 0 payment due for the next month. If you continued to make your monthly payment anyway, there was no way you could be late, however the credit card companies (except Discover) have stopped that to make sure they can charge late fees, no matter how much you pay. Why are no government or banking agencies looking into this for the consumer?
RE: Financial Advisors giving The solution to the creditor sitting on payments is to use a bill paying services run by a larger bank or other financial services company like American Express or Fidelity Investments. They can tell exactly when the creditor received the payment. The back up their customers in dealing with recalcitrant creditors. Eventually that nonsense will stop after the slimy creditor gets sick of dealing with the big bank's legal department. (Too bad for you CCB and FirstUSA.) Creditors are required by federal law to post a payment within 24 hours of it's receipt. Bill pay services provide credible evidence that will stand up in court if a creditor continues to violate the FCBA, as most of the payments are handled through the Federal Reserve and subject to tracking and auditing.
