The Leased Car - the only way many can drive a "new" SUV or higher end vehicle every 3 to 4 years and keep a payment in the $350 range. For many households "leasing autos" may be coming to an end.

The increased fuel cost or flat out operating cost continues to drive the resale value of these vehicles down when the lease ends. This in turn makes these "leased values" less attractive when the lease term is up, forcing leasing companies to reevaluate their position.

The financing arm of the Big 3 Detroit auto makers (Ford, GM and Chrysler) find themselves "cutting back" or suspending leasing deals on trucks, sport-utility and other vehicles.

Face it these auto finance companies crunched the numbers… the data tells them "auto leasing" is not profitable. This should send a signal to the consumer. If leasing is such a "good deal" for you how come these companies are packing their bags and leaving the leasing market?

Even Mastercard is feeling some pinch as consumers slow with their credit card spending.

The volume of credit card use in the US is causing a tightening of the credit card industry as more people are beginning to reach for a debit card over a credit card.

This is making some of the companies cull out inactive accounts.

Visa on the other hand has watched their revenues grow in their debit card business.

More from Forbes here:

Many Credit Counseling Services offer consumers debt counseling, debt consolidation and budget counseling to help consumers come to face to face with their finances. These services can be found in the local neighborhoods, via phone, and online for what may appear as a nominal fee.

With so many credit services and agencies offering services comparing each one side by side is impossible. However, as an overview most provide these basic services.

This industry has forged alliances with many of the major creditors. This works for the creditors to be paid back and the counseling services to provide a needed service to debt ridden consumers.

The fact is… even with their connections you as a consumer can do it all yourself.

You can contact creditors to:

• Stop late payment fees
• Reduce monthly payments
• Reduce and/or eliminate interest
• Negotiate a new debt repayment plan

The one element a credit counseling agency usually brings to the financial puzzle is organization. Most consumers find themselves in a financial mess from a lack of organization both in paperwork and handling of money. Learning to live with a spending plan is crucial to discovering how to master your money.

Going the Counseling Route!

If you decide to not go it alone in dealing with debt and go with a credit counseling agency know your credit score will probably take a hit.

Look for a company that is:

• Non-Profit
• Charges the lowest fees
• Makes contact convenient via phone, face to face or online
• Adheres to AICCCA standards

If your get serious on handling your finances you can do it all yourself… I learned it all the hard way and did it myself.

Join our email list to begin learning how to take control of your finances.

The rise of fuel cost is not only hurting consumers at the pump but also service station owners.

Many people believe the stations are raking in tons of cash but rarely consider the fees associated with the cost when taking credit cards to pay for the fuel.

It is estimated that a gas retailer works on about a 10 cent margin. When a gallon of gas is charged the cost of “fees” per gallon can run 8 cents or more leaving a very small margin of ONLY 2 CENTS per gallon for the station owner.

Look at the numbers….

A station owner buys gas from the distributor for $3.97 a gallon. In turn he sells it for $4.05. When someone pays with a credit card the credit card fees can be up to 13 cents a gallon… 5 cents over his potential profit.

Some stations without a repair business would be closing up shop.

Higher gas prices mean higher fees since most people don’t carry around a $100 in their pocket for gas.

How desperate is it getting?

The National Association of Convenience Stores claims that “Convenience stores paid $7.6 billion in credit card fees last year, while making $3.4 billion profits.”

It’s not only the gas companies making money… every time you use a credit card the company is making a tidy profit too!

Credit card delinquency rates have reached record highs throughout America in the past few years. There are some factors that have helped contribute to this, such as the weakening economy, higher gas prices and other factors, but the issue is largely one of continued consumer misuse and misunderstanding of the fees that come with credit cards.

A deeper look inside the good, the bad and the ugly of credit cards may help you improve the way in which you use your own card, or help make the decision of whether you should go after a credit card in the first place.

Card Benefits

The benefits of credit cards are many. Obviously the main benefit is having a line of credit that allows you to purchase things in advance of when you would be able to otherwise.

Other benefits include the rewards programs that many cards offer, which can prove to be quite substantial depending on your usage of the card, and the fact that you can avoid carrying around large sums of money. They also some peace of mind knowing that you have an extra source of income should something unexpected come up.

The truth though is that credit cards are ultimately less than they’re cracked up to be. The simple fact is that through monthly or annual fees and interest payments on purchases, it eventually gets to the point where you’re borrowing your own money.

In the rush to get something a few months ahead of when you could’ve otherwise got it, you set yourself on a course for a lifetime of dependency and fees that will drain thousands of dollars from you by the time without fail. In the wake of the delinquency statistics, many people have failed to consider the fact that the credit cards themselves are the problem, and not so much the people using them.

Card Fees & Interest Rates

When fees and interest rates make consumer money all but disappear into thin air, we’re all the worse for it. The credit card companies get fat while everyone else suffers. Retail outlets that once thought credit cards were the greatest thing since sliced bread are now reeling as that credit debt has caught up with all those consumers and cut retail spending dramatically.

Credit cards are undoubtedly one of the main reasons for the weakening economy, and yet all people do to compensate for this is by taking on more and more cards and burying themselves deeper and deeper. Incredibly, as much as 15% of the population owns more than 10 credit cards. If this isn’t utter insanity, nothing is, plain and simple.

Just some of the many factors that contribute to the overall credit card debacle are yearly fees, outrageous late fees that can raise the standard rates by 2 to 3 times their original amount, sky high interest rates no matter the amount of money being borrowed, over-limit fees, and penalty rates. All leading to a lower credit score.

The one element that consumers are conned into believing is a benefit are the low minimum payments required. If you think the credit card companies are doing you a favor, think again. They want you to only make the minimum payment, this means you’re stuck paying them more money over a longer period of time.

This trend is so alarming that federal banking regulators have recommended the minimum payment required be raised to at least 1% of the balance in an effort to try and save consumers from themselves and the wily credit card companies.

So why get a credit card? Good question, one that not enough people have been asking themselves over the past decade. Take the time to ask yourself this before you jump into the fray that has left our country’s households in an average of $8,000 in debt.

When you think about the fact that more and more people are getting into more and more debt all over the world, you can see why this is a problem that you need to be concerned about. Not only in the United States, household debt has topped the 2 trillion dollar mark, and this is actually without mortgage debt at all.

Whether you are in a situation where you need to worry about debt right away, or you are afraid you might be, you'll find that debt consolidation is something that you are considering, but before you go ahead, you need to keep a few things in mind.

What Should Happen?

In a perfect world, debt consolidation means that all of your debt is moved to a single source, whether it is a credit card payment, a car payment a loan or a mortgage. You'll find there are a number of different places to get this done, whether at your bank or online and you'll find that the results promised, which include a lower interest payment, a lower monthly debt and overall, more money left over at the end of the month, is quite attractive.

This essentially allows you to save more money and to make your debts a great deal less urgent than they might have been initially.

What Really Happens?

In many cases, debt consolidation happens because people are not managing their money correctly and is considered a last case resort. Many people who consolidate their debts find that the initial freedom allows them to be even more careless and this can lead to a spending disaster. In these cases, getting a debt consolidated just leads to being even more deeply in debt.

For many people, the zero balances on their credit card are just too tempting and they might find that their credit has even been increased to a point where they will be even more tempted. For someone whose debt might have been caused by careless spending in the first space, this can lead to a situation that is even more difficult.

What Needs to Change?

When dealing with debt consolidation, you'll find that you need to not only chance your finances, but also your spending habits. Make sure that if you have to consolidate your debts that you will do it in such a way as to put yourself ahead, and make sure that you will have the will power that is necessary to break any bad habits that you have picked up

Many people start this process by getting rid of their credit cards, and by putting a moratorium up on your loans. This can make sure that you don't get more loans that will be burden on you and take a serious look at your finances. Make sure that you understand how you racked up the debt in the first place and make sure that you know how to stop before you go ahead and consolidate!

Conclusion

Remember that to make sure that debt consolidation works for you that you will need to change you spending habits which will improve your credit score. Over time, your debt should go down, not up, and you'll find that reminding yourself of this can stave off further disaster.

Ideally, your debts should not eat up more than about 36% of your income. This is recommended, possibly even required if you want to consolidate your debt, so make sure that you plant this out an stick without it. With this ratio, you'll find that you don't need to to live paycheck to paycheck .

Remember that debt consolidation is not a magical solution that will get rid of your debt; it is a tool that will help you get debt under control!

Recovering from identity theft is one question lurking in the back of many consumers minds as the growing awareness and threat becomes more common place. The true is not recovery but prevention whether you have been a victim or not. Doing everything possible to keep yourself from being another statistic should be your primarily concern.

This is not to say you should curl up on the couch and never venture out into the world. True – these personality thefts seldom get caught or face the penalty of the damage inflicted.

Most of ID theft begins its journey online, where personal data is easily snatched while be passed from one site to another, or complete personal computer systems can find themselves compromised by a hacker installing a rogue program. They come with different labels – Trojan horses and key-loggers to name a few.

Every computer needs not only a security program but one that is automatically updated! Any time your personal information is exposed for others to see put you and your identity at risk.

Recovering from the trauma of identity theft will take a lot of time and effort. It’s also a very real issue putting you at risk, no matter how protected and safe you think you are.

More on Identity Theft Prevention here…

Everyone comes with their own reasons and desires to reduce or eliminate credit card debt. Mortgage lenders examine loan applications of those interested in buying a house much more carefully when they carry heavy debt on credit cards. Actively working to reduce the debt prior to applying for a home mortgage can give you a better interest rate in the long run.

Even homeowners facing the additional stress of open balances and finance charges on credit cards may find the stress level drop as debt goes down and disposable income goes up with focused effort.

The best way or method to attack debt of any kind is to reduce expenses (we all have places we can cut back) and apply the difference to the unpaid balance. Pay the debt with the lowest balance owed – not the lowest interest – once the debt is paid take the money paid on that debt and apply it to the next debt. Continue until all your debts have been paid off.

Some people consolidate all their debts with a loan or go the route of applying for a credit card with a low APR to bring all of their balances on to one card and focus on paying one payment per month.

Credit cards that allow consumers to transfer the open balances on their other cards are heavy marketed products in the financial world. Before you apply for a card and transfer balances from one card to another make sure you understand what is involved and what you are paying for in fees.

If you do not pay attention and understand the cost associated with balance transfers in the end the “saving” could be a costly move. Answer these questions before applying for your card.

Introductory Interest Rate – Is there one and if so what is the interest rate?

Many cards you receive in the mail may offer a zero or low introductory rate on all balance transfers. This low APR rates can eliminate or greatly reduce the finance charges on the open balance each month. With a finance charge waived for a period of time it can make paying off the card balance much easier.

How longer will the Introductory Period last?

Most of the time these introductory periods and the low rates last for six months to one year. Some run for up to 15 months. The longer the intro period the better chance you have of paying off the balance before being hammered with a full finance charge.

What will the new APR be after the introductory period expires?

Go for the lowest APR possible. Knowing in the back of your mind the APR will increase after some many months can be a big motivation for paying off the balance ASAP. Balance transfer APR is usually different than the APR on purchases. Keep and eye on any purchases.

Does APR apply only to transferred balances only or are purchases at the same APR?

To attain more customers many credit card companies separate have different interest rates for different transaction types. For example, balance transfers carry a different rate from a purchased item on the card. Cash advances in urn have another APR. Read the fine print! You need to understand the interest rate for each type of transaction the card is used for.

Do You Meet the Qualifications for the Introductory Rate?

Never assume that the offer you receive immediately qualifies you for a zero percent interest rate. The final rate depends how the company views your credit history. The final rate could be much different than the advertised rate if your credit is not is the best shape.

What are the Fees Associated with Balance Transfers

The fine print will let you know if there are any fees associated when transferring the balances. The low rate could be “recovered” with additional fees. These fees could be a flat fee to transfer the balances or the fee could be based on a percentage of the amount transferred. There could be no fee on the initial transfer but fees for transfers that occur later on.

What is the default or standard rate and when does it come into effect?

The default interest rate is the highest rate the credit card company will charge for usually penalties. This includes late payments and over-limit charges. No these rates before you make your application.

Balance transfer cards can be a great way for consumers to reduce their credit card balances. Imagine only having to make one payment each month at a low interest rate. It sure makes paying off the pleasures in life easier.

Millions of Americans carry some small negative reporting on their credit report. There is a wide range of choices to establish, maintain and even rebuild your credit report.

Once your credit carries many negative entries the journey and learning all the insider tips for credit repair and credit management can take a long time when you go it alone.

There are many companies ready to provide a solution to the ever-increasing problem of debt and credit repair. Along the way consumers can find many one-stop sources for everything related to their credit. Obtaining more or getting out of debt.

The first thing to get on the road to credit recovery is and improve your credit score is to start paying your bills on time. No matter what you may have heard the only items on your credit report that can be removed is inaccurate or outdated data. If it had been reported that your are really $7,200 past due with your local department store, and the information is correct, that information will stay on your credit report for at least seven years.

Repairing your credit is not a 5 minute exercise or a "quick fix" the process can drag on for months and even years before you'll be able to see the benefits of a great credit rating. Now identity theft throws a whole new curve at maintaining a clean credit record.

Much of the work can be do-it-yourself by reading everything you can find on credit an then take those ways to speed up the process and save some money while going through the steps. While going through the steps take some time to get familiar with the laws in place to protect your consumer rights.

The first place to start is by understanding the basic rules, guidelines and laws which effect the rating of your credit. The Fair Credit Reporting Act (FCRA) clearly states that any information negative in nature may only be included in your credit report or file for no more than a maximum of seven years. This being from the last activity date on the account. Good credit or positive items can remain on your report for 10 years.

As a consumer you have the right to request and "investigation" of any information in your credit report. Once contacted the credit bureau usually "investigates" by contacting the creditor to verify the information on file. If the information cannot be verified the item is then deleted from your file.

Inaccurate information like balance due or late payments must be corrected by the credit bureau. Finding inaccurate information and paying your bills on time are the best ways to start cleaning up your credit. Consolidating debt and paying off open accounts can also help in the long run.