Divorce Money Matters

From one of my favorite consumer groups - Consumers Union - comes this call to action (details below).  http://budurl.com/d8xf  Why are financial institutions being given immediate help and billions of dollars and yet, America’s people have to wait until 2010 for credit card reforms that need to be done now?!  In the meantime, the credit card companies are gearing up to gouge us while they can as they work even harder to make us indebted to them for life.

Yes, it is happening….twice this week I got notices from two of my credit card companies, Capital One and Discover, saying that they are changing the rules midstream as the current rules allow them to do.  Capital One will be jacking my interest rates up to 17.9% even though I have never been late and always pay more than the minimum every month, when possible even paying the full balance off.  The mailing basically said…this is what we are doing, take it or leave it.  If you don’t like it then close your account and you can find somewhere else to go….  So what will be in my wallet will be less of my own money, thanks to them.

So me, I’m leaving, hey Capital One you won’t be in my wallet!  Unfortunately for many people, they won’t be able to move their credit somewhere else due to credit issues of their own.  That’s why we need to take charge and demand accountability in all the financial sectors, especially the credit card industry….what I refer to as "Legalized Loan Sharks."

In the meantime, I’m taking action on this alert.  Hope many of your voices will join me.  ENOUGH IS ENOUGH!  Please add your voice.  http://budurl.com/d8xf

The Banks are at it Again!

Several major banks just hiked interest rates and fees on our credit cards, turning a blind eye to the millions of Americans struggling with the collapsing economy and higher unemployment. Just as we start getting that little increase in our paychecks, we have to turn around and give it to our credit card banks.

Media reports show Capital One hiked interest rates to 17.9% from 12.9%. Citibank raised their rates an average of 3%. While over at Chase, customers had a “choice” of paying a $120-a-year fee and a higher minimum payment, or a higher interest rate. Meanwhile, the interest rate banks charge each other for overnight loans is as low as 0%.

The Federal Reserve Board passed a new rule to prevent these sudden rate hikes, but it won’t go into effect until the middle of 2010. How many times before then will we get slugged with higher rates and fees just so the banks who got billions in taxpayer bailouts can increase their profits?

The chairman of the Senate Banking Committee just reintroduced his bill to put an end to these abuses, saying, “Mark my words: in the coming months, they will end." Other bills also have been introduced to crack down on these abuses.

Let’s help make it happen now. Tell Congress we can’t afford to wait until mid-2010 for credit card reform!    http://budurl.com/d8xf

I have been involved with Common Cause for many years and respect the work they do.  This latest call to action really strikes a nerve for me - Demand Answers from AIG’s CEO -  http://budurl.com/lamx

I am constantly amazed at how freely funds are given to these corporate behemoths without the proper oversight and conditions.  How in the world can billions upon billions be given without even the slightest thought as to how they will spend the money and who they will be accountable to?  Our Federal Government needs the same oversight as well!

Small business owners are the foundation of this country and provide many more jobs and revenue than large corporations over all, yet who is there to bail them out as they struggle to survive in this economy?  Would we stand in silence if we bailed out our local insurance agent and then watched them take extravagant vacations on our dollar?!

Now we are being told that AIG is contractually obligated to pay these executive bonuses and their hands are tied.  There is nothing they can do about it and there is nothing the government can do to force them to pay the money back.  The best plan I have heard the political commentators talk about is puttiing more restrictions on the next round of bailout money.  Are you kidding me here!  Am I hearing things?  Well to take from an old movie line…."We sick of this and we’re not going to take this anymore!"  Our financial futures and those of our children and grandchildren are being raped for these privileged few who helped to create the very mess that we are bailing them out of to begin with!

I offer a solution here.  If we can’t make them pay it back, then get it back by having Congress and the IRS propose that any companies that accept bailout money will have all Executive Bonuses taxed at a 95% tax rate.  I’m being generous by letting them keep anythiing at all.  New game, new rules, game on!  Please call your Congressmen and Senators and let them know you are outraged!  How much of this madness will we stand before we the people say enough is enough and demand answers?  As the old saying goes, "If you’re not part of the solution, you’re part of the problem."  It’s time to speak up America!!

Attention – Those considering or in the process of Divorce 

Are You confused and overwhelmed in your

divorce and don’t know where to begin?
 

Am I really getting my fair share?

Will I be able to afford to stay in the house?

What am I entitled to in retirement?

 What steps can I take now to avoid being saddled with my ex’s debt? 

How can I protect the payments I am entitled to if something should happen to my ex-spouse? 
 

If you answered yes to any or all of these questions then you don’t want to miss this teleclass:
 

Divorce Dollars and $ense 

Wednesday, March 11, 2009 

8:00 pm EST

We are offering this free teleclass so that you can be educated and armed with useful tips, tactics and tools to help you manage and survive your divorce! 

During this call we’ll be discussing:

·      What you MUST know about how to get your best settlement.

·      What kind of divorce options are available and who should be on your divorce team.

·      How a financial advisor can make a HUGE difference in your settlement - now and in the future.

·      What you MUST know about credit issues and bankruptcy to avoid getting burned.

·      Understanding spousal and child support issues.

·      Ways to protect your income stream or settlement agreements.

·      What you NEED to know about divvying up the marital pot.

·      What you MUST know about retirement - special issues around pensions, IRA’s, 401K’s and Social Security.

·      Why all assets are NOT created equal and how to get YOUR fair share.

·      And much, much, more….

I hope you’ll join us on this FREE call to learn more about how you can take control of your financial destiny and make your dollars go further with:
Divorce Dollars and $ense

Sign Up here - Divorce Dollars and $ense