Credit & Debt

Ads and websites that guarantee loans or credit cards regardless of your credit history may be tempting, but remember: Legitimate lenders never "guarantee" or say you're likely to get a loan or a credit card before you apply, especially if you have bad credit, no credit history, or a bankruptcy. Read more

When you pay by check, debit, or credit card, businesses often need information about you so they can be sure they'll get payment.  However, Georgia law sets limits on the information they can collect.

Unscrupulous companies guarantee they'll get you a scholarship or grant, if you pay them an advance fee.  Before you pay anyone for help, investigate the company and talk to a guidance or financial aid counselor.  Read more about how to find legitimate help.

There are different ways for taxpayers to get income tax refunds. Learn about refund anticipation options and questions to ask Learn about refund anticipation options and questions to ask before you choose a refund anticipation product, and get information about tax preparation.

Have you been told you're over your credit card limit, or had your debit card declined, when you know you have credit available or money in your account? If this happens shortly after you stayed in a hotel or rented a car, it may be caused by card “blocking.”

Scam artists are calling people and lying to get them to buy credit card loss protection and insurance programs, but you can handle many problems on your own. If you didn't agree to a charge, don't pay it, and follow the credit card issuer's procedure to dispute charges. Read more

If you apply for a mortgage or personal loan, you may be asked if you want to buy credit insurance, or it may be included in your loan proposal. Credit insurance protects the loan in case you can't make your payments, and it is optional; you don't have to buy it. It's against the law for a lender to include credit insurance or other optional products in your loan without your knowledge or permission. Read more

Many people find it easy and convenient to use credit cards and ATM or debit cards. The Fair Credit Billing Act and Electronic Fund Transfer Act offer procedures you can use if your cards are lost or stolen. Read more.

If you're behind on payments, you'll probably hear from debt collectors. Federal law gives you rights in dealing with debt collectors. It's important to understand those rights.

Have you recently filed a bankruptcy petition under Chapter 7 of the Bankruptcy Code, or are you considering the possibility?  If so, there is some very important information you should know.

Your credit report contains information about where you live, how you pay your bills, and whether you’ve been sued or arrested, or have filed for bankruptcy. The federal Fair Credit Reporting Act promotes the accuracy and privacy of information in the files of the nation’s credit reporting companies. Learn how to monitor and edit information in your credit report to keep it accurate.

Have you ever been billed for merchandise you returned or never received? Has your credit card company ever charged you twice for the same item, or failed to give you credit for a payment? These errors can be corrected with patience and knowledge of dispute settlement procedures of the Fair Credit Billing Act (FCBA).

If you plan to file for bankruptcy, you must get credit counseling from a government-approved organization within 180 days before you file. You must also complete a debtor education course before your debts can be discharged. Read more

When you consider a home equity loan or credit line, shop around and compare loan plans offered by banks, savings and loans, credit unions, and mortgage companies. Shopping can help you get a better deal.

The BBB's Managing Credit — Made Simpler has three customized versions that give credit users the strategies and guidelines they need for specific financial situations. Read more

The federal Mortgage Assistance Relief Services (MARS) rule and state law make it illegal for companies to collect any fees until a homeowner has actually received an offer of relief from the lender and accepted it. Read more.

Ads on the radio, television, internet, and in your mailbox refer to payday loans, cash advance loans, check advance loans, post-dated check loans, or deferred deposit loans. The Federal Trade Commission says that no matter what you call them, these small dollar, short-term, high-rate loans from check cashers, finance companies and others come at a high price. Read more

You don’t need to buy anything to get your free annual credit reports from the three nationwide consumer reporting companies.

Unscrupulous companies may "guarantee" they can get a scholarship for a student, or will "give" them a scholarship if they pay a fee. The company may give the student nothing for the fee, or tell them they were chosen as "finalists" and must pay another fee. The FTC cautions students to watch for signs of a scam.

The Teens & Money section of the FINRA Investor Education Foundation’s SaveAndInvest.org. has information for middle- and high-school students and their teachers. The videos, calculators, lesson plans and games cover saving, spending and managing money. Learn more

Collectors may not be able to sue you to collect old debts. Debt collectors have a limited number of years — the "statute of limitations" — to sue you to collect. After that time, unpaid debts are considered "time-barred." By law, a debt collector can't sue you for not paying a debt that's time-barred. Read more

Whether you use your credit card to buy a laptop or laundry soap, you have rights and responsibilities under the law. Getting a grip on the safe use of credit cards can help you avoid a credit calamity.