CHESSNOID

How is it possible for credit card companies to ruin your credit rating or lower your score?  It is actually quite easy for them especially in this sensitive economic environment.  All they have to do is lower your credit limit to your outstanding balance owed at you will become 100% of your credit line.  .
I [...]

Over 2 years ago I posted a blog titled Protect yourself from the current recession and coming depression. I was very pessimistic about the economy back then and felt the Bush administration’s experts screwed everything up. Then I read what the Obama’s administrations plan on spending money on a stimulus package and felt [...]

I used to have perfect credit and multiple credit cards from American Express, Bank of America, Citibank, Chase Manhattan and many other little companies for the past 20 years that they absorbed or merged into their too big too fail banks. And then over 3 years ago, literally overnight the banks cut my credit [...]

This makes perfect sense if you are in the collections field.  Credit card delinquency is a range of days that an account is past due anywhere from 30-179 days delinquent.  In standard accounting practices, once a credit card hits 180 days past due, the account is written off or charged off as a bad debt. [...]