Consumer Credit | featured news

New type of plastic lets students access college loan money everywhere from the bookstore to the bar.

Several major U.S. banks, led by Wells Fargo & Co, said the troubled economy drove credit losses higher, reducing profitability in the second quarter.

If nothing else, the legal maneuver will buy them some breathing room. But it also will destroy their credit rating, and it may not even be necessary.

To most people, bankruptcy is a four-letter word.

Also: What to do when credit limits suddenly drop, and whether IRAs offer protection from legal claims.

Dear Liz: My question is whether I should file for bankruptcy or try to settle my debts.

Soaring unemployment and a shrinking economy drove delinquencies on credit card debt to an all-time high in the first quarter.

In 361-64 vote, House gives final approval to legislation, ensuring that Obama will be able to sign the bill into law by Memorial Day.

In his weekly radio address, the president said Americans “have a right to not get ripped off by the sudden rate hikes, unfair penalties and hidden fees that have become all too common to our credit card industry.”.

The U.S. Federal Reserve rejected a request to force credit card companies to immediately halt retroactive interest-rate increases on existing balances, Democratic Senator Charles Schumer said on Tuesday.

Legislation to curb credit card fees and limit consumer penalties cleared a congressional panel on Wednesday, a day ahead of a meeting between industry executives and President Barack Obama at the White House.

Debt settlement companies claim they help both creditor and consumer by bridging the abyss between them, but the firms often manage to please no one.