Europe's Debt Crisis

The S&P credit rating agency announced today that Spain's credit rating has been downgraded from AA+ to AA. The announcement comes on the heels of Greece and Portugal's credit downgrade.

The announcement is further evidence that Europe, and the European Union (EU) in particular, need a financial overhaul. But it is also a reminder that while the U.S. economy is recovering (albeit slowly) the world economy may not have hit rock bottom yet.

This article also reminds us that whole countries, not just individuals, are judged on a credit rating system. So the next time you feel bad about your sub-par credit score, think about Spain, Greece, and Portugal. They will survive and so will you.

Learning How to Fight the Collector

I think most everyone who has ever had to deal with agressive creditors can appreciate the stories in this article. Unless, of course, you own or work for a collection agency. There are links to self-help websites in here for invoking debtor rights under the Fair Debt Collections Practices Act (FDCPA).

How foreclosure and bankruptcy impacts your credit score

As a bankruptcy attorney, I'm often asked about the effect of bankruptcy on credit scores. Most people who come see me already have poor credit, so a bankruptcy is not going to make things any worse. But i've never actually seen an actual credit score number linked with bankruptcy (or foreclosure) until now.

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Keep credit score in proper perspective. It should be the least of your concerns if you are in danger of losing your home or are being sued by your creditors. And keep in mind that while a bankruptcy (or foreclosure) may have an immediate negative impact on your credit score, it will eliminate debt and in the long run this will help you rebuild your credit.

Debt-relief scams

Companies promising to help debt-ridden consumers turn out to be financial predators. Undercover government investigation reveals insidious scam.

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