There are a number of questions I get asked about Credit Cards – but the two most common are, “What if they take away my Available Credit?” and “What about my Credit Score?” Let’s tackle both of these. The “Available Credit” question stems from a combination of two concerns. [...]
It has begun - and it is ramping out in full force. The banks are rapidly closing credit card accounts where the consumer has a zero balance; and on the cards where a balance is owed, they are reducing the available credit to a few dollars more than is [...]
These are difficult times and we face difficult decision. What if you are drawing unemployment at the Federal and State level – taking home $700 – just shy of $1,000 per week -- your employer calls you back to work – must you go? The answer is not entirely [...]
Credit card debt has been a favorite topic of mine for 11 years – since the Great Recession. It was at that time that I watched the credit card industry slash its customers available credit leaving them with no cash in the bank, no available credit and for many [...]
Here’s a quick test. Which of these Estate Plan Documents is the most critical? Will, Revocable Trust, Durable Power of Attorney or Health Care Power of Attorney? The most common answer is the “Will.” The “Durable Power of Attorney” is the correct answer - here ‘s why. The Durable Power [...]
I think we can summarize the financial situation succinctly – “it sucks.” I recognize the words are rather crass – but the situation – for the vast majority of all Americans – is dire and frightening. Unless there is a significant change in the medical realities – we are [...]
The new, $2 Trillion Act to provide assistance is called CARES – and has now passed the House and Senate. By the time you read this, the President will probably have signed it and it will be law. There are many relief provisions in the Act, but I want [...]
I will cut to the chase. We don’t know how long this will last – but each day means less money (or no money) to pay for essential items and greater fear. Here are my suggestions for the many, many people who have no cash reserves. If you have [...]
We are facing an unprecedented event. Moment to moment, we are witnessing the shutdown of economic activity everywhere. The grocery stores are buzzing, and people are scrambling to grab each roll of toilet paper they can. Needless to say, rationality is not pervasive. What to do? Focus on the [...]
Like all Michiganders, I feel profound sadness for the closing of Art Van; for the loss of its mark on Michigan, and for the thousand of loyal employees who are losing their jobs. From what I’ve read, this was a failure attributable to bad managers – more than the [...]
