A Clear-Minded Metric and Goal for Debt Consolidation with Consumer Debts

Posted onCategoriesFinancial

Debt consolidation can include mortgages and car loans, but the primary focus for most people is consumer debt. Consumer debt is somewhat malleable. Unlike a mortgage that can be rather structured, a credit card loan can go away with some logical debt management. It can also be at the ebb and flow of annual fees, rate adjustments, and new offers.

The Trick of Debt Limits

Credit debt is also abused for many of these reasons. It is easy to call and get a limit upgrade. The credit card company will actively promote it- and for a fee. Borrowers can have the great feature of being able to borrow more, if they pay for it as well as pay for the extra associated fees for the extended limit.

It can all get way out of hand way too easily. How can a borrower get a handle on the potential spiraling train … Read the rest

What Victims Should Know About the Equifax Hack and Its Response

Posted onCategoriesFinancial

The credit reporting agency Equifax has been in the news a great deal lately, and not for positive reasons. A business that generates billions of dollars in revenue each year, Equifax has recently succumbed to the kind of digital attack that regularly affects far smaller companies.

There have been some suggestions that Equifax was negligent in protecting the personal information that it took such pains to collect. What has been less clear to many observers is just what was stolen and who the loss will affect.

A Confusing, Murky Situation, Not Just Because of the Hackers

Part of the problem has been the seeming reluctance of Equifax itself to say more than absolutely necessary about the incident. The company waited nearly five weeks before alerting the public about the breach, meaning that the criminals involved could have been making illicit use of personal information all the while.

In fact, recent … Read the rest