Monthly Archives: January 2007

The Credit Utilization Ratio — A Ticking Time Bomb?

There has been a lot of media attention regarding the recent Congressional hearings on practices of the credit card industry. One of the subjects receiving coverage is the “universal default clause,” which consumer advocates have vocally complained about for years. This insidious provision is buried in most credit card agreements, and it permits a credit [...]

OCC Warning on Debt Elimination Scams

The Office of the Comptroller of Currency (part of the U.S. Federal Government) has published a statement on debt elimination scams. It’s an excellent piece that confirms everything I’ve been saying about these bogus techniques. The OCC refers to these as just the latest in a long line of “advance fee” schemes, where you pay [...]