Auto Loan Default Rates

Auto Loan Default Rates Growing – 7 Ways to Avoid Repossession

Auto loan default rates inched up in the U.S. during December while the overall economy remains vibrant. Baffling, especially among car dealers and auto lenders. Lender concerns are growing as more evidence emerges regarding a potential recession in late 2019 into 2020. The latest S&P/Experian Consumer Credit Default Indices for December reveals the auto default…

Identity Fraud Soars

Identity Theft is a Gargantuan Pain-in-the-Tookus for U.S. Consumers

Identity theft is the biggest pain-in-the-tookus for Americans, affecting more than 500,000 per year. Unlike hacking your computer, cell phone or other devices, identity theft is usually low-tech committed by unsophisticated slime balls. Slimeball Methods Consider the late night dumpster diver in search of bills, bank mail, and other documents containing personal information and, if…

Telecoms Plugin CRAs as Big Hammer to Collect on Past-Due Bills — Impact to Credit Scores Minimal

Nearly one out of four U.S. consumers, who are delinquent on telecom services, such landline or cell phone, cable, and internet, have discovered the collection activity listed on their credit reports.  While the telecom collections item on a consumer’s credit record will not help their personal credit score, the change in score before and after…

Students Face More Cyberbullying & Tricky Situations – Need More Face Time w/Parents 2B e-Safe

Today’s cyberkids most likely learned about the “birds and bees” well before your “parental talk,” plus they know lots of good and bad “stuff,” thanks to the connected online world. However, the exponential growth of social media in the past five years should give parents good reason to have a “parental talk” about being safe…

Credit Reports Now Bigger Threat to Security Clearances Than a Vengeful POTUS

The Department of Defense (DoD) now has 24X7 “eyes” on your credit file looking for past-due bills, excessive debt, collection activity and/or a high debt-to-income ratio that could jeopardize your clearance status.  Ironically, the President of the U.S., who has a long documented history of stiffing vendors, bankers, and employees, recently issued a directive that…

Back-2-School Shopping Nutz – 5 Ways to Save – Things w/Bad Stuff

American are expected to spend $82 billion in total back-to-school spending for K-12 schools this year, on par with 2017. Walmart and Target rule this seasonal market, Amazon not so much. (Kids like to see, touch and feel things.) But beware, some school items may contain hazardous stuff like asbestos, lead, phthalates and benzene.  Many…

Debt Collectors Provoke the Most Ire of American Consumers

The top five types of complaints reported by U.S. consumers to the Consumer Financial Protection Bureau (CFPB) include: debt collection, mortgages, credit reporting, credit cards, and bank accounts or services. The CFPB has handled more than 1 million complaints since 2011 from all 50 U.S. states and D.C.  Here is the Top 5: 1. Debt…

Sharpen Your Financial Focus Initiative Snags Major Funding

Wells Fargo is ponying-up $1 million of exclusive support to the National Foundation for Credit Counseling (NFCC) in support of the Sharpen Your Financial Focus (Sharpen) initiative.  The Sharpen program helps consumers address their primary financial challenges through targeted education and counseling. The program is available in English and Spanish and consists of the following:…

Consumers w/Crappy Credit w/Rebuilding Desire Have a Solution

A MD-DE area consumer credit counseling service is now promoting a unique loan for consumers looking to rebuild their less-than-desirable credit. Guidewell Financial Solutions, which provides free, confidential budget and credit counseling at their local offices and by phone, is now offering the Save2Build loan. To take part in this program, clients must be at…