Wednesday, February 01, 2012

Utah Individual Development Account Network available to help low-income individuals raise money

When it comes to saving for a house, education or small business, one Utah group is helping out. Consider it venture capital and education for low-income individuals.

Preston Cochrane - 2/1/2012 5:27:12 PM
Views 13      0 Comments    

Tuesday, January 03, 2012

Mortgage servicers, investors save millions with credit counseling

Benefits that distressed homeowners receive from credit counseling translate into mortgage servicers saving millions of dollars, according to The Stratmor Group.

Preston Cochrane - 1/3/2012 10:12:06 AM
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Monday, December 12, 2011

Consumer Financial Protection Bureau aims to simplify credit card agreements

The CFPB is asking the public to weigh in on a prototype credit card agreement that is shorter, written in plain language, and explains key features upfront. The CFPB also plans to pilot test the prototype with Pentagon Federal Credit Union, one of the largest credit unions in the country, to get on-the-ground consumer feedback.

Preston Cochrane - 12/12/2011 11:29:41 AM
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Thursday, November 03, 2011

Money habits that lead to arguments

It's well known that money can lead to disagreements between married couples. But what kind of financial habits are more likely to lead to an argument?

Preston Cochrane - 11/3/2011 4:30:58 PM
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Thursday, October 27, 2011

Obama announces student loan relief

President Barack Obama recalled his struggles with student loan debt as he unveiled a plan Wednesday that could give millions of young people some relief on their payments.

Preston Cochrane - 10/27/2011 4:46:50 PM
Views 320      0 Comments    

Monday, October 24, 2011

Layaway returns to major retail stores as consumers lay off credit cards

Layaway almost disappeared during the last economic boom. With easy credit and plenty of home equity to tap, many families no longer needed a pay-as-you-go way of making purchases. But today, layaway is back.

Preston Cochrane - 10/24/2011 9:50:32 PM
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Wednesday, September 28, 2011

‘Imagine a Happier You’ campaign helps 3 women

The "Imagine a Happier You" campaign and its partners, AAA Fair Credit, Merrill Lynch and Zions Bank, who each mentored one of the women for one full year, will recap briefly the lessons learned as part of Zions Bank's Smart Women Smart Money conference.

Preston Cochrane - 9/28/2011 1:11:19 PM
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Thursday, September 22, 2011

Credit probes go beyond scores

Data companies beyond the Big Three credit bureaus (Equifax, Trans Union and Experian) are compiling information about consumers’ job history, income and net worth that lenders can use to verify whether borrowers are as safe or as risky as their scores suggest.

Preston Cochrane - 9/22/2011 1:46:28 PM
Views 386      0 Comments    

Wednesday, September 21, 2011

Obama Deficit-Reduction Plan Would Allow Federal Debt Collectors To Contact People On Their Cellphones

A new proposal by the White House would allow collectors pursuing a government-backed debt -- which includes most mortgages, unpaid taxes and federal loans -- to contact people via their cellphones, in an effort to secure every last nickel and dime from taxpayers.

Preston Cochrane - 9/21/2011 2:10:31 PM
Views 347      0 Comments    

Friday, September 16, 2011

New credit score could help millions

FICO's new scoring model may make it easier for some to buy a house or get a credit card. But major lenders have been slow to switch, and the entire mortgage industry has yet to sign on.

Preston Cochrane - 9/16/2011 11:36:08 AM
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Thursday, September 08, 2011

Six Surprises Hidden in the Credit CARD Act

Many finer points of the Credit Card Accountability, Responsibility and Disclosure Act (CARD Act) are complex and confusing at best. Here are six things about the CARD Act you might not know.

Preston Cochrane - 9/8/2011 11:25:23 PM
Views 371      0 Comments    

Friday, August 12, 2011

Students, seniors may feel impact of debt deal

The debt-ceiling compromise approved by the Senate on Tuesday and signed by President Obama will have both short and long-term consequences for all Americans. Who could be affected?

Preston Cochrane - 8/12/2011 12:17:31 PM
Views 472      0 Comments    

Most Americans can't afford a $1,000 emergency expense

A majority, or 64%, of Americans don't have enough cash on hand to handle a $1,000 emergency expense, according to a new survey.

Preston Cochrane - 8/12/2011 10:17:18 AM
Views 234      0 Comments    

Monday, August 01, 2011

Bill seeks to erase medical debt from credit reports

Medical debts that you paid off long ago can drag down your credit score for years after you've settled them. But recently proposed legislation could mean old doctor bills will finally be erased from your credit report.

Preston Cochrane - 8/1/2011 11:12:52 AM
Views 450      0 Comments    

Monday, June 27, 2011

Independent Research Validate Benefits of Mortgage Counseling

Housing counseling increases the likelihood a homeowner will be granted a loan modification by 200 percent, according to research from the Federal Reserve.

Preston Cochrane - 6/27/2011 4:08:25 PM
Views 859      0 Comments    

Wednesday, May 25, 2011

Credit Counselors Face Challenges of Their Own — Just When They’re Needed Most

Wretched economies produce all sorts of weirdly vicious cycles. You’d think, for example, that, during any sort of recession, credit counselors would be as secure in their professional prospects. You’d think banks and other institutional creditors would be eager to fund non-profit counseling services that return them billions of dollars of unpaid debt.

Preston Cochrane - 5/25/2011 9:46:22 AM
Views 747      0 Comments    

Thursday, May 05, 2011

Funds for housing counseling shouldn't be cut

It is unreasonable, in the midst of a housing crisis that has financially devastated hundreds of thousands of households, that we are taking away access to free or low-cost counseling that helps these families.

Preston Cochrane - 5/5/2011 9:43:21 AM
Views 690      0 Comments    

Monday, April 18, 2011

No easy fixes for a mortgage in trouble

Is a loan modification for you? There are programs that can help. One of the most sought-after solutions is a loan modification, but they aren’t for everyone.

Preston Cochrane - 4/18/2011 9:04:44 AM
Views 1078      0 Comments    

Thursday, April 14, 2011

3 Ways to Fight Frugal Fatigue

Financial counselors say there are some ways you can build up your stamina against frugal fatigue.

Preston Cochrane - 4/14/2011 10:14:17 AM
Views 752      0 Comments    

Tuesday, April 12, 2011

The Modernization of Credit Counseling as a Response to the Debt Settlement Industry

A report released by AAA Fair Credit Foundation addresses the modernization of credit counseling as a response to the Debt Settlement Industry.

Preston Cochrane - 4/12/2011 9:17:13 AM
Views 615      0 Comments    

Friday, April 08, 2011

Can Credit Counseling Save America?

Once the darling of consumer advocates and consumer protection bureaus, the tarnished and sputtering nonprofit credit counseling industry may be the last, and best, hope to stop America's total economic collapse.

Preston Cochrane - 4/8/2011 3:24:56 PM
Views 562      0 Comments