Tuesday, November 22, 2011

Beware Black Friday Spending!

I wish everybody a Happy and Healthy Thanksgiving! I hope enjoy the day with family and friends.....and, of course, food.

We all know that "the day after" is Black Friday. This is a "make or break" day for many stores during the holiday season. However, this does NOT have to be a "make or break" day for your and your finances.

With that said, if you are going to battle the crowds this Friday, please bring a set amount of money with you and do not go beyond amount. Also, if you know that you are frequently tempted to use credit cards or department store cards, leave them at home. In the long run, you will be happy that you did, especially if you tend to carry balances from month to month.

The cash back and bonus points rarely make up for all the money spent and interest charges incurred. To me, it's not worth it.

Stay tuned for more!

Wednesday, November 2, 2011

FTC Closes Down Debt Collection Agency

As an advocate for consumers, I am always happy to see the government do something to prevent abuse of power. That said, the Federal Trade Commission closed down Rincom Debt Management last week, claiming that the agency made "bogus threats" against consumers. The FTC stated that Rincon threats included telling consumers that they had been sued and even could be arrested for debts...even those that they did NOT owe.

These are considered "unfair or illegal debt collection practices" (obviously) and it's refreshing to see the FTC making agencies like Rincon "play by the rules."