Posted on
February 16, 2010
at
2:37 am
What's that Obama get out of debt plan about?
Posted on
February 16, 2010
at
6:25 am
What's that Obama get out of debt plan about? It's basically Obama allotting billions of dollars to large financial firms (the majority are in the credit cards and other lines of credit businesses) to encourage them to be more receptive to debt relief programs.
Posted on
February 16, 2010
at
6:43 am
Right coz in the past few years creditors don't really like working with debt relief companies as it means profit loss for them - but with the recession - they all realizedthat it's better to get something rather than nothing.
Posted on
February 16, 2010
at
6:56 am
Is it in effect? What's it about basically?
Posted on
February 16, 2010
at
7:02 am
That Credit Card Accountability Responsibility and Disclosure Act tackles the ff:Interest rates: If the consumer's payment is 60 days late, the credit card company can increase the rate.-Penalty fees: Unless the consumer has asked for an over-limit fee, the creditors can't charge the consumer for it. Banks may not charge late fees if they were also late in crediting a payment.-College students: Credit card companies may not market to people under the age of 21, without parental permission, or verification of their ability to pay.
Posted on
February 16, 2010
at
7:03 am
Has that already taken effect? It's Feb. 2010 already..
Posted on
March 5, 2010
at
3:15 am
I have a feeling that his Obama get out of debt plan is just a trial run (?)Now that the Credit Card Accountability Responsibility and Disclosure Act isin effect - I'm sure since it's new - that issues would arise - and thenthey'd revise that law or make another one, until all is fair (I dunno it soundslike a fairytale) - when one talks of money ... somebody always getsthe short end of the stick ...
