HOUSTON (WITI) — People who are trying to get out of debt can often be vulnerable to scam artists.  But, there are simple and affordable steps you can take to pay down your debt.

They look tempting — companies promising to help consumers avoid bankruptcy by consolidating debt.

They think they have found a solution to their financial problem, said US Postal Inspector Leslie McClain.

In truth, many of these websites and companies are not only expensive, but also engaged in fraud.

They are not even registered with the FTC. They charge fees to customers that they shouldnt have and sometimes they just walk away with your money, explained McClain.


If you have purchased a car with bad credit, youre probably aware of the fact that you did not get a prime interest rate on your auto loan. And you might be wondering if you will be doomed to pay a higher interest rate forever.

The good news is that your credit can be repaired, and you absolutely can recapture an optimal interest rate. And the better news is that you are largely in control of precisely when that happens. With planning and diligence, you can cultivate and maintain a great credit score.

Developing Your Credit Repair Strategy

The best way to ensure that you will be offered good interest rates is to develop good credit. And you do this by proving that you are capable...

In todays world, keeping up on your credit is as essential as keeping track of where you keep your car keys or any essential household item. If you dont keep track, you could end up in a position where youre unable to get where you need to go.

When you dont check your credit, you could find yourself in a situation where youve picked out the car you absolutely love and can totally afford, only to be stopped by blemishes on your credit that you either werent aware of or forgot about.

Smart Ways to Keep Up On Your Credit

You are entitled to one free credit report from each of the three major reporting agencies (Experian, TransUnion amp; Equifax) each year. What you should...

Going back to colonial days, it has been illegal for payday lenders to operate in the state of New York. Same goes for neighboring New Jersey.

But public pension funds in both states are indirect owners of ACE Cash Express Inc., the nations second-largest payday lender. Its not an illegal arrangement, but it sure borders on hypocritical.

Texas-based ACE was a publicly traded company until October 2006, when it was acquired for around $455 million by JLL Partners, a middle-market private equity firm that is currently in the midst of raising $1.1 billion for its seventh fund.

At the time of its original acquisition, JLL managing director Frank Rodriguez said that the deal...

CARDSTON, ALBERTA–(Marketwired – April 15, 2015) – American Creek Resources Ltd. (TSX VENTURE:AMK) (the Corporation) today announced that it has closed the first tranche of the non-brokered private placement (the Offering) that was previously announced on March 24, 2015. A total of 5,999,966 units (Units) were subscribed for at a price of $0.06 per Unit for gross proceeds of $359,998.#xA0;Each Unit consists of one common share of the Corporation (Common Share) and one non-transferrable Common Share purchase warrant (Warrant). Each Warrant may be exercised for one additional Common Share for a period of 24 months from the closing date at a price of $0.08 per share if exercised...

While banks continued with their cost-containment programs (through
streamlining of operations and slashing jobs) to remain profitable,
the spending of funds reserved to cover problem loans managed to
counter the tough industry backdrop. Measures undertaken to
strengthen the balance sheet and improve overall efficiency
dominated. Additionally, we believe elevated Mamp;A and IPO
activities should lead to growth in investment banking business.

Further, gradually improving macroeconomic factors helped banks
witness a rising trend in areas including auto, credit card and
student lending. Also, a pickup in commercial real-estate lending
aided the performance...

Payday lending is based on a business model that earns profit from making high-interest loans to poor Americans who often cant pay them back. A new plan from the Consumer Financial Protection Bureau offers promising ideas to make the industry more humane and accountable.

But only Congress, not regulators, have the power to limit loan interest rates and impose other rules on an industry that too often is predatory.

The bureaus proposal would require payday lenders to make sure consumers can pay back any loan made to them, by preconfirming a borrowers ability to pay or by offering affordable payment plans.

Payday lenders say such rules defeat the purpose of the loans, which...

About 12 million Americans each year take out payday loans, according to the federal Consumer Financial Protection Bureau, whose 2013 report on payday lending includes a lot of telling statistics. After analyzing 15 million payday loans made in 33 states, the watchdog agency determined that few borrowers can repay the loans.

The average borrower earns about $26,000 a year. The average loan amount is $392. The average lender charges about $15 in interest per $100 borrowed per two weeks (a 391 percent annual percentage rate). And the average time frame for repayment is about 18 days.

When the loan comes due, the customer who cant repay the full balance has a choice: Pay a fee to extend...

OLYMPIA, Wash. (AP) — A bill that would rewrite Washingtons payday lending laws to favor longer-term high-interest loans has stalled in a House committee after passing the Senate in a contentious vote.

Senate Bill 5899, which is endorsed by Seattle-based Moneytree and opposed by Gov. Jay Inslee, faces a Tuesday deadline to get from the House committee on General Government and Information Technology to a floor vote. The committee heard the bill Monday but did not vote on it, and it has no further meetings scheduled.

Even if the bill has expired in the House, the payday loan proposal may not be fully gone from the Legislatures 2015 agenda. Senate Republican leader Mark Schoesler...

AUBURN HILLS, Mich., April 9, 2015 /PRNewswire/ — Summit Place Kia of Waterford and Mt. Clemens and Auto Credit Express of Auburn Hills are pleased to support our veterans through a golf outing open to the public to be held on July 19, 2015. The 5th Annual LaLonde Charity Open will be at the Golf Course at Pine Knob and proceeds will go to the Friends of the Veterans Treatment Court.