Within a year after changes in the banking laws allowed banks to own branches across state lines, bank consolidation allowed about 25 percent of the banks in the United States to own over 50-percent of the banking assets. While this has led to a continued concern about the long-range effects the new laws will have on competition in the industry, the changes have yielded only a few effects on banking consumers. The increase in online banks has led to many ...

For those who got into financial waters over their head, it may seem impossible to be able to take a deep breath. Drowning in a sea of debt is not something that only affects those with limited financial resources and just one or two missed payments can have a devastating effect on their credit score. Additionally, there are many areas in financial life that is tied to a person's credit score and missing a payment on a single credit ...

Very few set out to establish bad credit, although it is easier to do than establishing a good credit rating. Although a good credit report can be earned simply by paying all of your bills on time, a bad credit rating is easier to accomplish, as the only thing you have to do is incur financial obligations and then not pay them when you promised. It is also easier to ruin a good credit standing than it is to turn ...

If you find yourself paying out more each month than you are bringing in it may be time to consider consolidation of debt to reduce the monthly obligations. Many times people get in over their head and just need some breathing room to get themselves back on a solid financial track and by consolidating all of their monthly bills into one loan or repayment agreement, they are able to step back and revise ...

Use this calculator to determine how long it will take you to payoff your credit cards if you only make the minimum payments. Enter your credit card information below and press "View Report" to see your payoff details. Definitions Balance Your current balance on your credit card. Interest rates The average annual percentage rate you pay. This interest rate is calculated for each of the categories of debt you have including credit cards, Auto Loans and other installment loans. For credit cards the rate ...

Just as Americans find themselves increasingly indebted to credit card companies and payday lenders, interest rates have begun to rise and housing values have gone the other way. Adjustable rate mortgages have "reset," leaving millions of Americans with higher mortgage payments than they ever intended, and to make matters worse, even car loans have been trending longer, which means that borrowers are often "upside down" ...

When selecting a credit counselor, you have a lot of choices. Thanks to the increased indebtedness of the average American household and changes in the Federal Bankruptcy Code, there are literally thousands of consumer credit counseling services from which to choose. With that in mind, why settle for anything less than the best? But if you're like most Americans, you don't know what exactly constitutes a ...

The two dominant myths about credit counseling and debt management plans are that (1) they are magic bullets to eliminate your debt, without exception, for pennies on the dollar; and (2) they are rip-off operations that will charge you onerous fees, take your money and run, leaving you in worse shape than you were before. Neither is true, although some of the worst credit counseling or debt ...

In the broad sense, "credit counseling" can refer to any of the educational or debt relief services provided by a credit counseling service. Obviously, taking a voluntary class in budget management will have no direct effect on your credit - although it could help you to improve your credit score if you implement what you learn. But when people talk about "credit counseling," they are ...