In 2009, Congress passed the Credit Card Accountability Responsibility and Disclosure Act, giving rise to the convenient acronym, "CARD Act." The Act is intended to protect consumers from deceptive and abusive practices by credit card issuers. Despite the widespread...
Credit Card Debt
What happens to credit card debt in bankruptcy?
One of the prime motivations for filing a bankruptcy petition is accumulated credit card debt. Many residents of Rockland County who have let their use of credit cards get out of control often look to bankruptcy for relief, but very few understand what happens to...
Retail credit cards may trap unwary consumers
Virtually every inhabitant of Rockland County has received at least one offer of a retail credit card - that is, a credit card offered by a retailer instead of a bank. While the cards offer certain advantages, they now come with very high interest rates, some higher...
We help New Yorkers struggling under credit card debt
As a previous post on this blog discussed, credit card companies offer all kinds of incentives to get New Yorkers to sign up for and then use their credit cards. In addition to "zero interest" purchases, companies also offer cash back incentives, travel rewards and...
Deferred interest versus no interest credit cards
One of the reasons families who live in Rockland County, New York, wind up having to file bankruptcy is credit card debt. Although a family may be able to swing regular payments, at least on the interest, when everything is going well, big credit card balances...
Credit card debt on the rise throughout the country
The amount of debt United States citizens owe on their credit cards has crossed the $1 trillion threshold, meaning what some call a modern "debt trap" is showing no sign of ending and may, in fact, be getting worse. These numbers mean that those who do not pay their...
Debt relief is possible despite overwhelming credit card burdens
Some debts are taken on willingly by those who must bear them. For example, some New Yorkers are comfortable acquiring loans for buying homes or cars, while others use financing to pay for their educational pursuits. Debts incurred from mortgages, vehicles, and...
Time is an important factor when tackling credit card debt
After the holidays, many people receive credit card statements that are higher than usual. After spending money on gifts, travel, and a host of other costs, New Yorkers may wind up with balances that exceed their capacities to pay in full. It may be tempting to ignore...
Keep your resolution to keep credit card debt in check
Every year Garnerville residents have a chance to start fresh as the new year rolls around on the calendar. Well, that chance just happened and along with plans to get healthy, reconnect with old friends and get ahead in their careers, many individuals make plans to...
Holiday season leads many into damaging credit card debt
Shopping for loved ones during the holidays can be a special experience for some New Yorkers. In fact, giving to others can be one of the most rewarding things a person can do all year. Unfortunately, however, in the excitement of making purchases to bestow upon...
