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Credit Card Debt Archives

Tips for finding a credit card for your college-bound child

If your teen is going off to college this fall, you may be considering getting him or her a credit card to use for unexpected expenses and emergencies. The prospect of a credit card in your son or daughter's hands, however, may be frightening. Following are some things to consider to protect your child's credit and yours.

Why you should pay your credit card bills early

If you pay your credit card bills in full and on time every month, you're way ahead of a lot of Americans. You save yourself interest charges, late fees and potential harm to your credit score. However, you probably wait to pay until just before it's due, right? Why pay any earlier than necessary?

How will the latest rate hike impact your credit card debt?

Some New Jersey residents, as well other Americans, choose not to follow the goings-on in Washington, D.C. However, many decisions by those elected and appointed to jobs in the federal government can have significant impacts on people's lives and finances.

What can you learn from Mark Cuban about credit cards?

It may seem easy for a billionaire like Mark Cuban to advise people not to use credit cards. However, the entrepreneur, Dallas Mavericks owner and star of the TV show "Shark Tank" grew up in a middle-class family and helped pay his own way through college by giving dance lessons. He says that was the best piece of financial advice he ever received, and it was from his father.

How to cut back on summer spending

For many people, spending can get out of control, and the credit card debt can sneak up on you. Even if you don't have a big vacation planned, day trips to the beach, summer blockbuster movies, dining out, weddings (with the obligatory presents), tennis lessons for the kids, and summer wardrobe additions can create big credit card bills. Of course, a summer vacation, even if it's just a road trip up or down the east coast, can easily run into the thousands for hotel and restaurant bills.

Why are more seniors overwhelmed by credit card debt?

Credit card debt is not simply a problem for young or even middle-age people. Increasingly, seniors are carrying large amounts of credit card debt. Moreover, they have challenges for paying it off that younger people may not, particularly if they're already retired.

Learn your options for taking control of your credit card debt

Credit cards are a good thing to have, as long as you use them in the right way. It is easy to fall into the habit of thinking that you can spend whatever you want as long as you have credit remaining on the card. This can lead you into a financial abyss if you charge considerable amounts and can't repay those amounts when the time to do so comes.

Your rights under the Fair Debt Collection Practices Act

Last week, we talked about some of the things debt collectors might try to get you to pay them. One of the ways you can defend against aggressive or even unethical debt collection practices is to understand and assert your rights under the Fair Debt Collection Practices Act (FDCPA). The act governs how and when debt collectors are allowed to contact you, whether they can release information to third parties and when they have to cease contact with you.

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At the law offices of William H. Oliver, Jr. & Associates in Toms River and Lakewood, New Jersey, we represent clients in Toms River, Neptune, Trenton, Middletown, Red Bank, Wall, Lakewood, Lakehurst, Manchester, Asbury Park, Old Bridge, Jamesburg, Barnegat, Forked River, Manahawkin, Ocean Township, Brick, Manasquan, Howell, Freehold, Hazlet, Bradley Beach, Brown Mills, Long Branch, Keansburg, Marlboro, Bayville, Beachwood, Whiting, Sayreville, South River, East Brunswick, Monmouth County, Ocean County, Middlesex County, Burlington County and Mercer County.