• RSS Credit Dusters

    • CDTV Launch! March 30, 2011
        Credit Dusters has just launched our interactive television show. The network is called CDTV and it will start out with a daily show about all things credit. You can go there now…tv.creditdusters.com.
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    • New VW and Other Purchases I Didn’t Make June 4, 2008
      It seems strange considering my profession.  I recently pulled a copy of my credit report through the credit watch service  I am a member of.  I needed to purchase a car so I wanted to see where my scores stood and shop for the best interest rate.  To my surprise I had purchased a brand new […]
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    • Loan Modification – The Best Chance for Success April 30, 2008
      This week we are discussing a painful, but important situation that a lot of American consumers are facing. It is so scary to think that you might lose your home, but we want you to know that there is hope. We want to be a resource to those folks because we have been there and […]
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    • Beauty in Simplicity Chapter IV – The Final Verse April 25, 2008
      My family lives in a small, rural town in Southern Indiana. We are surrounded by a soy bean field with hundreds of sprawling acres across the street and a large lake that adjoins our property in the back. Sounds nice, right? Why am I so discontented?What is it that continues to drive me toward always […]
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    • Beauty in Simplicity Chapter III – The Endless Road April 24, 2008
      I began writing about the subject as a result of my daughter and I going on a field trip to our county 4-H last week. All the modern day farmers talking about raising chickens, cows, rabbits, and living off the land made me yearn for a life like that. This is my journey…The truth is […]
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    • Beauty in Simplicity Chapter II – What’s in the Box? April 23, 2008
      In his book, Halftime, author and successful businessman Bob Buford comments on the purpose of money in the following manner: Mike Kiami is a strategic planning consultant. He is brilliant. He is intuitive. He is demanding. He slices through all the pretense and posturing, and hones in on the core. He does not believe in […]
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    • Beauty In Simplicity – Chapter 1 April 22, 2008
      “Stop this train, I want to get off!” – Vanilla Ice Yesterday I touched on the fact that I am soul searching for the simple life. My wife and I used to think the Amish had the answer. I now know, as I mentioned, that I do not have to buy a farm and work […]
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    • A Rabbit Meat Shortage, The American Consumer, and Something About The Simple Life April 21, 2008
      I went on a field trip with my 3rd grade daughter this past week to our county 4-H. I learned a lot about farm animals. It was quite amazing because I saw the farmer of today and even with all the modern technology, (like a $280K combine that has a stereo, GPS system, and two seats) it […]
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    • How To Not Blow Your Tax Refund April 2, 2008
      In my previous post I wrote about the importance of filing even when you owe. Today I am going to give some helpful tips on preparing for your refund. Whether you are getting $500.00 or $5000.00 it is human nature to spend your money two or three times before it even hits the bank. I would encourage […]
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    • How To Proactively Protect Your Identity March 26, 2008
      Freecreditdusters.com has a great article on ID Theft – Check it out
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Subprime: Bankruptcy bill faces roadblocks

Earlier this month I posted on the new Bankruptcy legislation attempting to railroad through Congress. Here is a quick update from CNN Money…

WASHINGTON (Dow Jones/AP) — The U.S. House Judiciary Committee could vote on a bill as early as next week that would make changes to bankruptcy law aimed at helping borrowers with subprime loans avoid foreclosure, the body’s chairman said Tuesday.

“Time is of the essence,” Rep. John Conyers, D-Mich., told reporters after a hearing on the topic. “If we’re going to do something, we’re going to have to do it right away.”

Reps. Brad Miller, D-N.C., and Linda Sanchez, D-Calif., introduced a bill last month that would allow bankruptcy judges to change some mortgage terms on a borrower’s primary residence, potentially changing the interest rate and other features of a loan.

Consumer groups have thrown their full support behind the measure, saying that it could help 600,000 homeowners avoid foreclosure in the next two years.

The banking industry, however, has lobbied intensely against the measure, arguing that it would increase the cost of credit and create confusion in the market for mortgage debt because loan terms would be less reliable.

“Lenders, securitizers and loan servicers would have to take various precautions to avoid or offset the significant new risks (the bill) would impose,” David Kittle, chairman-elect of the Mortgage Bankers Association, said at the hearing.

Conyers conceded that industry opposition to the bill could make it difficult to pass, but he said that it was necessary to help homeowners.

“We can talk all we want, but this bill is going to be tough to get through the House and the Senate,” Conyers said.

Staff from the offices of Miller, Sanchez and Conyers plan to meet Wednesday with Rep. Steve Chabot, R-Ohio, to try to negotiate terms of a compromise, Conyers said.

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Please comment below on what you think. I would love to hear from you.

Thanks,

 Matt Sullivan, CEO / Credit Dusters, Inc. 

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