Legislators Ponder New Credit Protection Laws

Written by James H. Dimmitt


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At first glance this bill appears to offer valuable credit protections for consumers. However, there are others who feel this legislation either doesn’t do enough or even reduces consumer rights. The proposed federal law could replace tougher laws already in place in some states and that has consumer advocates concerned.

For an in depth analysis of H.R. 2622 by leading consumer advocates, visit http://www.privacyrights.org/ar/HR2622Analysis.htm

Lawmakers and consumer groups agree that changes need to be made to better protect consumers and their credit rights. Whether or not The Fair and Accurate Credit Transaction Act can address these concerns remains to be seen.

© 2003, www.yourfreecreditreportnow.com Author: James H. Dimmitt James is editor of “To Your Credit” a FREE weekly newsletter for consumers. You can subscribe at http://tinyurl.com/bgo9


The Power of Cash

Written by Kelly Cullison


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week. She knows that whenrepparttar cash is gone, she will have to wait until her next “allowance day” before she will have more. She can visually monitor what’s left in a way she never could with credit cards or checks. She thinks harder about each purchase because she has to hand over good ‘ole U.S. currency. In our digital age, we’ve become desensitized torepparttar 112622 value of money. Money has been reduced to figures on an ATM screen, or a balance on a credit card statement. We’ve lost touch with CASH. By recognizingrepparttar 112623 psychological power of currency and implementing an allowance system, Jennifer has been able to stay within her monthly budget and make tremendous progress. TAKE ACTION Tryrepparttar 112624 allowance approach for 1 month. Follow these steps: 1. Pick a day ofrepparttar 112625 week for your allowance day. Consider your spending habits. If you usually spend a lot onrepparttar 112626 weekends, you may prefer an allowance day early inrepparttar 112627 week so you don’t run out of cash too soon. 2. Review your monthly budget. 3. Identify all ofrepparttar 112628 items that are recurring, such as food, entertainment, haircuts, etc. Ignore bills, such as power, rent, and phone. 4. Add uprepparttar 112629 items you identified above. This is your total allowance forrepparttar 112630 month. 5. Divide byrepparttar 112631 number of allowance days inrepparttar 112632 month. If your allowance day will be Monday, divide byrepparttar 112633 number of Mondays. This is your weekly allowance. 6. Take your weekly allowance out ofrepparttar 112634 bank each allowance day. Don’t go back for more untilrepparttar 112635 next allowance day.

Let me know how it goes! Email me at editor@kc-solutions.net?subject=AllowanceChallenge * Name has been changed, of course.

Kelly Cullison helps consumers eliminate large debt balances without consolidation, credit counseling or bankruptcy. Visit www.kc-solutions.net to find out how.


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