The Dangers of Medical Credit Cards at SmartMoney.com
This is a new subject I had not heard of prior to two days ago on a news report from KOMO4 news. The story featured a couple of interviews with individuals who had been offered a differed interest rate credit card in order to pay for their medical expenses. The medical providers liked the plan because they got their money immediately. The featured story had a man who was making payments within the time frame to avoid the penalties and then had a payment posted one day late on his account and all of a sudden had a $2,000 additional fee tacked on to his balance!
KOMO issued a warning to all who are contemplating using these cards because they may be getting themselves into more than they had bargained for especially if they had ongoing medical expenses that were making timely payments difficult. A small bill could turn into a BIG problem!
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Sunday, April 11, 2010
SEC seeks tighter rules on asset-backed securities | KOMO News - Breaking News, Sports, Traffic and Weather - Seattle, Washington | Business
SEC seeks tighter rules on asset-backed securities KOMO News - Breaking News, Sports, Traffic and Weather - Seattle, Washington Business
This blog is in no way intended to be a know-it-all expose on the banking system. I do try to post items that I come across that directly affect the customers of the industry. The major banks have shown that profits are their #1 goal. Customer satisfaction and security is not even on the short list.
The SEC rules are being sought to contain the profit monster that continues to threaten our economy and prevent another meltdown.
Have you considered changing your bank yet?
This blog is in no way intended to be a know-it-all expose on the banking system. I do try to post items that I come across that directly affect the customers of the industry. The major banks have shown that profits are their #1 goal. Customer satisfaction and security is not even on the short list.
The SEC rules are being sought to contain the profit monster that continues to threaten our economy and prevent another meltdown.
Have you considered changing your bank yet?
Monday, April 5, 2010
how-the-credit-card-act-wil-affect-types-of-credit-cards: Personal Finance News from Yahoo! Finance
how-the-credit-card-act-wil-affect-types-of-credit-cards: Personal Finance News from Yahoo! Finance
If you still have any credit cards this is a good article to let you know about the new changes in the credit card laws, how they help you and what you still need to watch for. The article honestly is a little dry but it is organized well so you can go directly to the type of card you have to see what the impact is.
If you still have any credit cards this is a good article to let you know about the new changes in the credit card laws, how they help you and what you still need to watch for. The article honestly is a little dry but it is organized well so you can go directly to the type of card you have to see what the impact is.
Saturday, April 3, 2010
pay-garnishments-rise-as-debtors-fall-behind: Personal Finance News from Yahoo! Finance
pay-garnishments-rise-as-debtors-fall-behind: Personal Finance News from Yahoo! Finance
I am hearing of these aggressive tactics more often. If you are in financial trouble read In The Trenches and check out the links to the blog list on In The Trenches blog. Some of the blogs are deal specifically with debt reduction and recently some of the sites have featured stories about dealing with collection agencies. The yellow pages will should you consumer credit counseling services in your area. Closing your checking account may stall the process but garnishments can send you into a tail spin.
The big boys are playing hardball and they are playing to win.
I am hearing of these aggressive tactics more often. If you are in financial trouble read In The Trenches and check out the links to the blog list on In The Trenches blog. Some of the blogs are deal specifically with debt reduction and recently some of the sites have featured stories about dealing with collection agencies. The yellow pages will should you consumer credit counseling services in your area. Closing your checking account may stall the process but garnishments can send you into a tail spin.
The big boys are playing hardball and they are playing to win.
Tuesday, March 23, 2010
$700 BILLION BAILOUT by Paul Muolo
I'm just starting to read a book called $700 Billion Bailout. the Emergency Economic Stabilization Act and What It Means to You, Your Money, Your Mortgage, and Your Taxes. The book is written by Paul Muolo. Don't let the title scare you. The book is written in easy to understand language that will give you chills.
If you have any question left in your mind about what all the fuss is about get a copy of this book. Just the Introduction should be enough to get your blood pressure up. More on this later I'm sure. I hope you will get a copy from your bookstore or library.
Amazon link:
http://www.amazon.com/700-Billion-Bailout-Emergency-Stabilization/dp/0470462566/ref=sr_1_3?ie=UTF8&s=books&qid=1270540215&sr=1-3
If you have any question left in your mind about what all the fuss is about get a copy of this book. Just the Introduction should be enough to get your blood pressure up. More on this later I'm sure. I hope you will get a copy from your bookstore or library.
Amazon link:
http://www.amazon.com/700-Billion-Bailout-Emergency-Stabilization/dp/0470462566/ref=sr_1_3?ie=UTF8&s=books&qid=1270540215&sr=1-3
Tuesday, March 9, 2010
Who are you giving your paycheck to?
Now I keep going over this in my mind and can't seem to get it straight...
Ok. WE customers go to the bank and put in our paychecks. And, when WE want to buy a house WE put 20% down, the bank carries the loan and if WE stay in the house for 30 years WE will pay about 5x the amount of the loan.
Then, the bank uses our money and in addition to the interest we pay and having the use of the balances we keep they make big bonuses and have a party.
Then, they go to the government and tell them they have no more of our money and the government gives them more of our money so they can charge more big fees and interest, get more bonuses, and have more parties.
Then, I watch the commercials on TV about how much these banks are helping us. And, it really makes no sense to me because I see foreclosed homes and homeless people all around.
So, let me get this straight...I'm a customer, I give money to banks so they can have parties, charge me fees, and throw my neighbors on the street while they sing a happy jingle on the TV.
Here is a partial list of banks that received tarp money. It is provided by Fox News so we know that it must be "fair and balanced"...
"RAW DATA: List of Banks Receiving Funds From $700B TARP
This list includes all the banks receiving funds from the Treasury's $700B Troubled Assets Relief Program (TARP).
The following is a list of TARP recipients as of January 31, 2009:
Bank of America Corporation
Bank of New York Mellon Corporation
Citigroup Inc.
The Goldman Sachs Group
JPMorgan Chase & Co.
Morgan Stanley
State Street Corporation
Wells Fargo & Company
Bank of Commerce Holdings
1st FS Corporation
UCBH Holdings, Inc.
Northern Trust Corporation
SunTrust Banks, Inc.
Broadway Financial Corporation
Washington Federal Inc.
BB&T Corp.
Provident Bancshares Corp.
Umpqua Holdings Corp.
Comerica Inc.
Regions Financial Corp.
Capital One Financial Corporation
First Horizon National Corporation
Huntington Bancshares
KeyCorp
Valley National Bancorp
Zions Bancorporation
Marshall & Ilsley
U.S. Bancorp
TCF Financial Corporation
First Niagara Financial Group...."
Here is the complete list:http://www.foxnews.com/politics/president/ci.RAW+DATA%3A+List+of+Banks+Receiving+Funds+From+%24700B+TARP.opinionPrint
Is your bank on this list? Are you still giving them your paycheck? But, they paid the TARP money back you say. Oh, that's right. They collected more fees from us so they could pay back our money that our taxes paid to the government. And, the banks keep having parties and giving out bonuses while the jingles play.
Ok. WE customers go to the bank and put in our paychecks. And, when WE want to buy a house WE put 20% down, the bank carries the loan and if WE stay in the house for 30 years WE will pay about 5x the amount of the loan.
Then, the bank uses our money and in addition to the interest we pay and having the use of the balances we keep they make big bonuses and have a party.
Then, they go to the government and tell them they have no more of our money and the government gives them more of our money so they can charge more big fees and interest, get more bonuses, and have more parties.
Then, I watch the commercials on TV about how much these banks are helping us. And, it really makes no sense to me because I see foreclosed homes and homeless people all around.
So, let me get this straight...I'm a customer, I give money to banks so they can have parties, charge me fees, and throw my neighbors on the street while they sing a happy jingle on the TV.
Here is a partial list of banks that received tarp money. It is provided by Fox News so we know that it must be "fair and balanced"...
"RAW DATA: List of Banks Receiving Funds From $700B TARP
This list includes all the banks receiving funds from the Treasury's $700B Troubled Assets Relief Program (TARP).
The following is a list of TARP recipients as of January 31, 2009:
Bank of America Corporation
Bank of New York Mellon Corporation
Citigroup Inc.
The Goldman Sachs Group
JPMorgan Chase & Co.
Morgan Stanley
State Street Corporation
Wells Fargo & Company
Bank of Commerce Holdings
1st FS Corporation
UCBH Holdings, Inc.
Northern Trust Corporation
SunTrust Banks, Inc.
Broadway Financial Corporation
Washington Federal Inc.
BB&T Corp.
Provident Bancshares Corp.
Umpqua Holdings Corp.
Comerica Inc.
Regions Financial Corp.
Capital One Financial Corporation
First Horizon National Corporation
Huntington Bancshares
KeyCorp
Valley National Bancorp
Zions Bancorporation
Marshall & Ilsley
U.S. Bancorp
TCF Financial Corporation
First Niagara Financial Group...."
Here is the complete list:http://www.foxnews.com/politics/president/ci.RAW+DATA%3A+List+of+Banks+Receiving+Funds+From+%24700B+TARP.opinionPrint
Is your bank on this list? Are you still giving them your paycheck? But, they paid the TARP money back you say. Oh, that's right. They collected more fees from us so they could pay back our money that our taxes paid to the government. And, the banks keep having parties and giving out bonuses while the jingles play.
Friday, March 5, 2010
Do you have a story to tell?
If you have story to tell about a great or an ugly experience you have had with your bank I would be happy to share it on this blog. Please email the story to me at inthetrenches@live.com. Please do not include any personal information or account numbers. Do include the name of the bank. I do reserve the right to edit or abbreviate the content but will email you the proposed version before posting it. The purpose of this blog is to give customers an opportunity to hear the quality of service you have had with working with your bank. Also, please be sure to vote. If your bank is not listed let me know and I would be happy to add it. Carol
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