Generation X- ages 30 to 46- is thus far the generation that has the most amount of personal debt. A new study by Experian shows that this generation has an average of $111,121 per person. On top of that, they sport a credit score of only (718), while Baby Boomers average about $101,951 worth of debt and rock a credit...
When you think of car makers and legal trouble, you probably think of faulty airbags, faulty brakes, and faulty ignition switches. While true, Honda is now having to pay up for something less mechanical, and more financial. New York officials have levied a hefty $13.5 million dollar fine to Honda, due to their “jamming” of fake credit repair services to...
Scams are everywhere, and they can help bring down the public image of an entire industry. It is happening now with credit repair agencies. The Better Business Bureau (BBB) is cautioning consumers to keep a lookout for credit repair scams. While your credit score matters when it comes to buying a car, home, or even getting a job, you need...
Do you know your credit score? Most people don’t monitor their credit scores closely enough. As a result, their scores are not as high as they could be due to errors and unknown debts. The credit repair industry is growing as consumers are beginning to realize how credit affects their ability to make large purchases and even apply for certain...
Credit repair merchant accounts come with their own set of risk factors. This can be confirmed by the fact that conservative banks and traditional card processors will not give these businesses the time of day. One reason they contend is that the type of customer being helped is already on the line because they have had problems paying their bills...
Tax season is also the season when many check their credit scores. While there are many legitimate websites and services, some are not, and those can damage the entire industry. Credit repair agencies are who people turn to when they need to get their spending in check, pay down debt, and otherwise strengthen their credit score. You do not have...
Data breaches have continually been in the news over the last year. From Target to Neiman Marcus, consumers have been flooded with reports of their sensitive information being compromised. When Target’s POS system was hacked, it instigated consumer rage and a series of Congressional hearings investigating weaknesses in data security. Now in the wake of the most recent Home Depot...
Helping others when they have found themselves with credit difficulties is a rewarding business opportunity. Not only does it allow a way to help others, it can help to pay your bills and overheads too, because you charge a fee for your services. The important areas to consider are how your customers will pay you for your services helping to...
Tokenization is still a varied topic in the payment industry. Some consider it to be a taboo subject, while others are embracing it with open arms. The fact is, only time will tell what really happens with token payments. However, Apple is helping push the argument into the mainstream, thanks to their newly implemented “Apple Pay” system. While not everyone...
With the way the credit industry has suffered these last few years, many are very happy to see new credit repair merchants entering the arena. Consumers are happy as well. Having one smaller bill to pay every month is better than 10 or 15 accounts that will barely see the minimum payment. Credit issuers, whether branded or unbranded credit cards...
