As a reminder to anyone coming across this RSS Feed on the July 4th weekend, I have included two previous post you may have missed. I have chosen the words of two men, one deceased and the other living.
In reverse order, Aaron Russo is an American entertainment businessman, film maker, and Libertarian political figure. Click here for the Video Interview…America Freedom to FASCISM!

On May 23, 1933, Congressman, Louis T. McFadden, brought formal charges against the Board of Governors of the Federal Reserve Bank system, The Comptroller of the Currency and the Secretary of United States Treasury for numerous criminal acts, including but not limited to, CONSPIRACY, FRAUD, UNLAWFUL CONVERSION, AND TREASON.
The petition for Articles of Impeachment was thereafter referred to the Judiciary Committee and has
YET TO BE ACTED ON.
Click here for the Article!

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See my Consumers Eliminate Credit Card Debt website link.
"Relieving The Burden of Debt From Americans, One Family At A Time"

© 2006 Copyright www.creditcardrip.com Eliminate Credit Debt

Bankruptcy Law Reporter,a BNA weekly publication offering complete coverage of significant legislative, judicial, and regulatory actions. Updated monthly, the index cumulates for a year.
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Source: Federal Trade Commission
... if you have a poor credit history or no credit at all. Beware: while secured credit cards can be an effective way to build or re-establish your credit history, some marketers of secured cards make deceptive advertising claims to entice you to respond to their ads.
Secured vs. Unsecured Cards

Secured and unsecured cards can be used to pay for goods and services. However, a secured card requires you to open and maintain a savings account as security for your line of credit; an unsecured card does not.

The required savings deposit for a secured card may range from a few hundred to several thousand dollars. Your credit line is a percentage of your deposit, typically 50 to 100 percent. Usually, a bank will pay interest on your deposit. In addition,you also may have to pay application and processing fees -- sometimes totaling hundreds of dollars. Before you apply, be sure to ask what the total fees are and whether they will be refunded if you're denied a card. Typically, a secured card requires an annual fee and has a higher interest rate than an unsecured card.

Deceptive Ads and Scams

The Federal Trade Commission (FTC) has taken action against companies that deceptively advertise major credit cards through television, newspapers, and postcards. The ads may offer unsecured credit cards, secured credit cards, or not specify a card type. The ads usually lead you to believe you can get a card simply by calling the number listed. Sometimes the number is not toll-free. A '900' number service, for which you are billed just for making the call, may instruct you to give your name and address to receive a credit application, or give you a list of banks offering secured cards. It also may tell you to call another '900' number -- at an additional charge -- for more information.

Deceptive ads often leave out important information.
· The cost of the '900' call -- which can range from $2 to $50 or more;
· The required security deposit, application, and processing fees;
· Eligibility requirements like income or age;

An annual fee or the fact that the secured card has a higher than average interest rate on any balance.

How to Avoid the Scam

To avoid being victimized, look for the following signs:
· Offers of easy credit. No one can guarantee to get you credit. Before deciding whether to give you a credit card, legitimate credit providers examine your credit report.
· A call to a '900' number for a credit card. You pay for calls with a '900' prefix -- and you may never receive a credit card.
· Credit cards offered by "credit repair" companies or "credit clinics." These businesses also may offer to clean-up your credit history for a fee. However, you can correct genuine mistakes or outdated information yourself by contacting credit bureaus directly. Remember that only time and good credit habits will restore your credit worthiness.

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See my Consumers Eliminate Credit Card Debt website link.
"Relieving The Burden of Debt From Americans, One Family At A Time"

© 2006 Copyright www.creditcardrip.com Eliminate Credit Debt

Bloomberg News

The Federal Reserve issued a report downplaying assertions that the banking industry contributed to bankruptcies by offering credit cards to customers who may be unable to repay the debt.

The Fed report released Thursday concluded that credit-card issuers do not solicit customers or extend credit to them without assessing their ability to repay debt. Congress requested the report as part of a 2005 bankruptcy law.

''Despite the large expansion in the proportion of households with credit cards in recent decades, measures of debt repayments relative to income show no signs of a rise in distress in the aggregate,'' the report stated

Click here for the Article!

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See my Consumers Eliminate Credit Card Debt website link.
"Relieving The Burden of Debt From Americans, One Family At A Time"

© 2006 Copyright www.creditcardrip.com Eliminate Credit Debt

Best Syndication
Home& Leasure
June 30th, 2006

If you are anticipating purchasing your first home, you will want to make sure that you can qualify for a home loan before you even begin to look at real estate. Most of the time, a real estate agent will get you pre-qualified through a mortgage broker, however, this is loosely based and you should still be aware that it does not guarantee that you will get a loan or the type of loan that you desire.

By knowing what your finances should look like you will be in charge of deciding the type of loan, be it a fixed rate or interest only loan you make the final decision. If you are not prepared with knowing how to qualify for a home loan, you will be left very little options and you may be left with only a very undesirable adjustable rate loan with closing points for the loan. You can end up being put in a position that will cost you considerably more to repay the loan.

Click here for the Article!

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See my Consumers Eliminate Credit Card Debt website link.
"Relieving The Burden of Debt From Americans, One Family At A Time"

© 2006 Copyright www.creditcardrip.com Eliminate Credit Debt