The Fair Credit Reporting Act (FCRA) is a federal law created to protect consumers and their personal financial information

Fair Credit Reporting Act

By Bill Fay | November 9, 2012

Are you worried about identity theft and someone ruining your good credit name? The Fair Credit Reporting Act was designed to ease your fears. The Fair Credit Reporting Act (FCRA)…

3D Model of letters "FTC" with a gavel behind them

Federal Trade Commission Act

By Bill Fay | November 9, 2012

The Federal Trade Commission, launched in March 1915, was created in response to a groundswell of public concern that followed separate U.S. Supreme Court antitrust rulings against Standard Oil and…

What to do and how to avoid predatory lending

What Is Predatory Lending?

By Bill Fay | November 7, 2012

“Predators” in nature are defined as animals that prey on others, like wolves eating rabbits. Unfortunately, there are a lot of wolves in the lending business. Predatory lenders don’t care…

Photo of amount financed detail of the standard federal truth in lending section on an automobile purchase form

What Is the Truth in Lending Act (TILA)?

By Bill Fay | September 26, 2012

There has always been a lot of lending in the United States. There hasn’t always been a lot of truth. Lenders could obscure information on interest rates, finance charges and other…

Illustration of types of Ecommerce on different platforms

Electronic Fund Transfer Act

By Bill Fay | September 26, 2012

In 1979, the Electronic Fund Transfer Act (EFTA), also known as Regulation E, was implemented to protect consumers when they use electronic means to manage their finances. Electronic fund transfers…

How to take on and avoid default loans

Defaulting on Your Loans

By Bill Fay | July 26, 2012

A default on any loan is going to severely damage your credit score and leave you vulnerable to one or more collection procedures. The consequences of default depend on whether your loan is…

What Is Debt Collection?

By Bill Fay | July 24, 2012

The picture that many people have in mind when they think about the stereotypical debt collector is a hard-hearted scoundrel of melodrama infamy, threatening to throw widows and orphans into…

Building icon with "Credit Union" spelled under it with spreadsheet in background

Credit Unions & Debt

By Bill Fay | July 6, 2012

Some borrowers who are looking for trustworthy lenders are simply swayed by news out of the financial sector, news that documented at a rash of bank failures and subsequent efforts…

Close up of brass lock behind blue credit card on top of keyboard

Credit Monitoring, Credit Reporting Services and Identity Protection

By Bill Fay | June 19, 2012

Consumers’ financial identities are always at risk. A single late payment might bring down your credit score, a clerical error may lead to inaccurate or outdated information being reported, and…

How often does your credit score change

How Often are Credit Scores Updated?

By Bill Fay | June 18, 2012

Every consumer should be interested in their credit score, especially if they are considering a major financial move that will require a loan. Anyone wanting credit for a mortgage, auto…