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Can you sue your bank? Litigation against financial institutions may soon become a reality.

Has it ever occurred to you to sue your bank? If you’re like most people then you’ve never even thought about it, but that may be changing thanks to some new changes in the industry.

Still, the majority of consumers aren’t even aware that they’ve signed away their right to join class actions against their bank or credit card company. Now, the CFPB (Consumer Financial Protection Bureau) wants to ban companies from including so-called ‘arbitration clauses’ in their service agreements, calling ...

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​9 Things that debt collectors CANNOT do to get you to pay.

Have you had a run-in with a debt collector? If so, you’re not alone, as the Urban Institute study recently revealed that an estimated 1 in 3 adults, or 77 million Americans, are so delinquent paying a debt that it’s gone to collections. If you’re one of those people then you’ve also probably learned that debt collectors can be aggressive, relentless, sneaky, rude, deceptive, or even resort to downright harassment to collect money. That’s especially true of third party debt ...

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Can creditors throw you in jail for not paying your debts? (Part 2)

As we talked about in the first installment of this blog post, debtors use the court system to collect, bending the legal process past its intended spirit in some cases.

When a debtor’s examination is requested and a defendant/debtor doesn’t appear for any reason, they can be found in contempt of court. At that point, a warrant can be issued for their arrest and they can be incarcerated, placed behind bars technically for contempt of court – not failing ...

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‘Money’ tops the list of things couples fight about – but it doesn’t have to.

What do couples fight about? Whether just starting dating, in a long term relationship, or already married and the honeymoon is over, it may seem like there is an endless list of topics that romantic partners clash about: he throws his dirty shirts on the floor, she insists her poodle sleep on the bed, and they can’t agree on whether they should fly to the Caribbean or visit in-laws in Minnesota during Christmas vacation. (Ok, so there are some things ...

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Which city ranks highest for average credit card debt compared to income?

Which city in the U.S. is the most burdened with credit card debt? A new poll by CreditCards.com reveals just that, assessing the debt burden of the top 25 metropolitan areas. But the discussion goes further than just which city has the highest average credit card debt because a big factor in the study’s rankings include the median income in the area, showing the true disparity between debt and earnings. It also tabulates how many months it would take to ...

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When people have questions, and they search online a whole lot these days, and financial inquiries are no different. In fact, Google, the world’s largest search engine, accounting for 88.96% of all search traffic, gets 40,000 search queries EVERY SECOND on any given day. That tallies up to about 3.5 billion Google searches per day or 1.2 trillion every year. And while Google may dominate the search business, it’s by no means the only game in town. Bing is the second largest search engine with 8.02% of all traffic and Yahoo is next with 2.26%. However, in Yahoo’s case, it also receives a high volume of questions about financial and money matters because of its popular site, Yahoo Finance. So with decided to count all of those searches one by one to figure out the top 10 searched questions about finances and money. Ok, so our research was easier than that - we just Googled it- but we came up with some pretty interesting – and entertaining – answers. And while we don’t endeavor to answer these questions here, we will add some side notes about their popularity or creditability or whatever strikes us.

The 10 most popular search engine queries about finance and money (and the 10 craziest!)

When people have questions, and they search online a whole lot these days, and financial inquiries are no different. In fact, Google, the world’s largest search engine, accounting for 88.96% of all search traffic, gets 40,000 search queries EVERY SECOND on any given day. That tallies up to about 3.5 billion Google searches per day or 1.2 trillion every year. And while Google may dominate the search business, it’s by no means the only game in town. Bing is the ...

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Was the shutdown of the New York Stock Exchange a coincidence, or cyber-HACK?

The official word is that it was just an untimely “coincidence,” yet others believe that the early July technical glitch that caused the New York Stock Exchange to shut down for three hours was far more than that – either cyber terrorism or a cyber hack.

Here are the facts we can count on: On Wednesday, July 8th at 11:32 a.m. ET, the New York Stock Exchange – the world’s biggest financial exchange both in volume and total dollar trading, valued ...

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Negative option billing is the shady marketing practice you’re probably already falling for.

Do you remember Colombia House’s offer of eight compact discs (or 12 records or tapes) for a penny? If you’re 30 years or older, you probably do, since their perforated sign-up cards seemed to adorn the middle of every magazine for a couple of decades. And most of us probably signed up for their offers at least once.

At their high point around 1991, bolstered by the release of music CD’s, they had reached 10 million members, or just shy ...

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Orange is NOT the new black for guilty Wall Street CEOs.

The U.S. Justice Department announced last week that five of the largest banks in the world will plead guilty to felony charges that they joined forces to manipulate global financial markets. Following a multi-year investigation into their activities that led up to and during the financial crisis and crash of 2008, these banks will be fined nearly $5.8 billion in total as part of the federal plea agreement.

But what these disgraced CEOs – and soon to be convicted felons – ...

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Creative ways to save for a down payment to buy a house.

Have you thought longingly about buying your first home, only to cancel out that dream once you look at the down payment requirements? It’s true that a mortgage payment often costs less than renting these days, and there are fantastic benefits to home ownership like equity appreciation and tax breaks, but there’s no getting around the fact that they need a whole lot of money, all at once and up front, in order to buy, right?

Maybe not. The good ...

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