The Latest Debt & Finance Blog

JP Morgan Chase faces lawsuit for fraudulent debt collection

JP Morgan Chase Slammed for Debt Collection Fraud

By Bill Fay | May 17, 2013

Is the bank that issued your credit card dunning you for money it says you owe it? It’s possible. There’s nothing wrong with them trying to get it, as long…

Economic indicators show the economy is improving

U.S. Economy Is Slowly Improving

By Bill Fay | May 7, 2013

The snapshot of the U.S. economy in the first week of May looks unusually promising. Almost every arrow economists want pointing up – home sales, auto sales, stock market –…

Consumer spending is up, but credit card use is down.

Credit Card Debt Decreases Even as Consumer Spending Climbs

By Bill Fay | April 26, 2013

After years of focusing on paying down debt, American consumers have started opening their wallets to spend again. Both moves helped the economy. Consumers paid down debt, especially mortgage and…

Student loan debt puts a drag on the housing market and economy.

College Debt Dragging Down Future of Graduates and Economy

By Bill Fay | April 24, 2013

Recent studies delivered another round of warning shots that the U.S. economy is losing a spark from one of its most potent sources – college graduates – because of problems…

Boston authorities warn about charity scams after bombings.

Boston Tragedy Sparks Warning About Charity Scams

By Bill Fay | April 19, 2013

The registration of 125 “charitable” websites within an hour of the explosions at the Boston Marathon on April 15 brings light to the issue of charity scams. In what is…

Obama's budget would change the way Social Security benefits are calculated.

Obama Wants to Cut Social Security By Changing Benefit Calculation

By Bill Fay | April 18, 2013

Last week, President Obama submitted to Congress his version of a federal budget for the 2014 fiscal year. And soon, like the half-dozen other budget proposals that have been introduced by,…

Economic indicators like housing and spending are confusing.

Despite Positive Economic Indicators, Consumer Confidence Continues to Decline

By Bill Fay | April 17, 2013

American consumers are a step slow in accepting the news that the U.S. economy really is on the mend. Consumer confidence and retail spending dipped in March, while the rest…

IRS tax code is thousands of pages long

Does the U.S. Tax Code Encourage ‘Tax Avoidance’?

By Bill Fay | April 16, 2013

April 15 has passed and you know what that means:  Somewhere around 140 million taxpayers are hoping they don’t get audited. Not because they cheated, but because they have no…

Sixty percent of graduates have student loans and may need help as they pay them off.

Paying Your Student Loan Debt Is Critical to Sound Financial Future

By Bill Fay | April 15, 2013

College seniors typically pay a visit to their academic advisers in the final weeks before graduation to make sure they have enough credits to get out. They might be better…

Tax evaders and avoiders mean more taxes for the rest of us.

Tax Day is Here – and So are the Tax Evaders and Avoiders

By Bill Fay | April 12, 2013

Tax Day is upon us once again. This year, the Internal Revenue Service (IRS) expects to receive 250 million tax returns and $2 trillion in revenue. And regardless of all…