Author Archives: Jay Butchko
Can The Consumer Financial Protection Bureau Make Junk Fees Go Away?
A common complaint among the 99 percent is that it is expensive to be poor. Unless you are rich, banks and businesses charge you to use your own money. ATMs charge you fees to access money that is already in your bank account. Credit card companies and utility companies charge you fees if you… Read More »
Consumer Financial Protection Bureau Aims To Amend Regulations On Credit Card Late Fees
Credit card debt is one of the most frequently cited sources of financial hardship among consumers who file for bankruptcy protection or seek the services of debt lawyers. Low-paying jobs and gigs with little or no paid leave or employer-provided health insurance are the norm; meanwhile, most of life’s necessities are expensive, from housing… Read More »
Using Social Media To Get Out Of Debt: Dos And Don’ts
When you were young, your grandparents balked at how little you hesitated to enter your credit card information online to make purchases or even enter your bank account number in an online form in order to receive direct deposit payments from your job. Today, social media sites like Facebook, Instagram, and Facebook are an… Read More »
What To Do If You Can’t Afford Your Credit Card Payment This Month
According to recent estimates, more than 60 percent of American adults are in debt, and many of them must resort to credit cards to pay for necessities such as groceries and utility bills. Between inflation, the aftermath of Hurricane Ian, and the approach of a new fly season and perhaps even a new COVID… Read More »
Consumer Financial Protection Bureau Urges Credit Reporting Agencies To Fix Errors On Consumers’ Credit Reports Promptly
Anyone who has been in debt for a while, which is almost everyone two-and-a-half years after the COVID-19 pandemic first arrived in Florida, has seen advertisements by companies that promise to improve your credit score quickly for a price. While some of these are outright scams, others can genuinely give your credit score a… Read More »
What Is The Cheapest Way To Deal With A Lawsuit From A Creditor?
Business to consumer lawsuits were rare a few decades ago, but today they are on the rise, especially in states like Florida, which offer little protection to consumers. Creditors and collection agencies have the right to sue you over credit card debt, unpaid medical bills, and many other kinds of consumer debts. If you… Read More »
Credit Karma Agrees To $3 Million Settlement Over Deceptive “Pre-Approved” Credit Card Offers
It isn’t just your imagination that a big part of your debt problem is not due to lack of discipline over your spending or to you not working hard enough but to policies that make it difficult for all except the wealthiest of working people to access affordable financial products. You might be doing… Read More »
Can Second Chance Credit Cards Help You Rebuild Your Credit?
Filing for bankruptcy can lower your credit score, but not everyone who has trouble qualifying for credit cards has a history of bankruptcy filings. The more common problem is that it is hard to get started building your credit, especially in an economy where most people who work full-time live paycheck to paycheck. To… Read More »
Second Chance Banking Can Help You Rebuild Your Finances
Your credit card has a low credit limit? Your auto loan has a high interest rate? Your credit score hasn’t budged even though you have been making payments on time, even though you have been making all the payments on your buy now pay later (BNPL) purchases for more than a year? Those all… Read More »
Deceptive Advertising Practices Are Rampant In Car Sales, And The FTC Wants Them To Stop
Medical bills are the biggest source of consumer debt, and payday loans are probably the most predatory, but car-related expenses are not especially benign. In most parts of Florida, it is virtually impossible to commute to and from work without a car. Buying a car often feels like a Faustian bargain for several reasons. … Read More »