Posted on March - 03 - 2011
The newly formed government agency, U.S. Consumer Finance Protection Bureau, reports that the Credit Card Accountability, Responsibility, and Disclosure (CARD)Act has caused the U.S. credit card industry to revise policies while reducing and eliminating some penalty fees. Highlights of the report include:
- Over-limit fees have all but disappeared.
- Prior to the CARD Act, 15 percent of credit card issuers reset credit card interest rates annually, but now approximately 2 percent of issuers are resetting interest rates each year.
- Assessed late payment fees fell to $427 million in December 2010. This represents a decrease of more than half of the January 2010 amount of $901 million.
- Since the inception of the CARD Act, credit card late fees have fallen from an average of $35.00 to $23.00.
These developments are a step in the right direction toward helping consumers with debt management.
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Posted on February - 28 - 2011
If you have small business and you have to pay your creditors and have not sufficient fund to meet your liabilities, it creates huge stress as you are being forced by the creditors or by the bank to re pay all the debt. So, in order to continue your business successfully and to pay all the debt, you should consider about business debt consolidation. The Business debt consolidation can only help you to come out of this financial trouble as you can pay your debtor or your bank with in shorter period of time. The business debt consolidation also provides new life to your business and helps you to avoid bankruptcy.
Although it might appear like you must just persevere and continue reimbursing the money owing until all the loan is repaid, the reality is that persevering might not be the excellent use of precious time, particularly if the unnecessary debt is creating problems and stop you to take decisions that are more beneficial for your business. Read full post…
Posted on February - 26 - 2011
Perhaps it’s the dark gray winter skies that are making me curmudgeonly but I’m having one of those weeks, and at the centre of my frustration are the motor insurers in the United Kingdom.
Changing car has resulted in having to change car insurer or pay three times my current premium. I’d happily stay with the current insurer, give or take a few percentage points, but having to pay three times over the odds helps me overcome my inertia to change. I also lost the no claims bonus as I’d canceled policy four weeks before the end of term date – why isn’t the no claims discount follow policy holder not policy? I lost count of the minutes listening to awful muzak is some call centre queue. One call centre company had to pass me on to another section, who was then unavailable and I was told to call back. Remind me who the customer is here?
And of all the insurers I was dealing with, not one offered a customer portal where I could change my details or cancel my policy. That would
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Posted on February - 24 - 2011
A large number of mediclaim policyholders have to claim re-imbursement from their insurance companies for hospitalisation expenses as a large number of hospitals have been removed from the list of network hospitals by the public sector Insurance companies. Most PSU Insurance companies (and some private Insurance companies as well) require you to deal with a Third Party Administrator (TPA) for your claim adding one more layer in the claim process. At the best of times it takes at least 2-4 weeks for the claim to be settled. Here is a list of 8 things that you must remember to do to make sure your claim re-imbursement process is relatively quicker.
1) Inform the company about the impending claim via email to the TPA (or the Insurance company) as soon as you are hospitalised. The said email is available on the policy documents as well as the booklet that comes along with the card that you get for each policyholder. Th
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