Last month Richard Cordray argued that payday lenders charge exorbitant fees and often trap consumers in a cycle of debt.

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**Today’s guest post is contributed by Brandon.**

Financing home improvement projects doesn’t have to be complicated. If you follow some simple steps to determine what type of program best fits your needs, you’ll be well on your way to getting your loan approved and getting your project started.

Step 1: Know Your Credit Scores

Many programs require minimum credit scores in order to qualify. If you don’t already know your scores, you can check them for free from Credit Karma .There are programs available for all credit types, from excellent to bad credit.

Step 2: Determine How Much You Need for Your Project.

This includes getting estimates from qualified contractors and determining how much cash (if any) you want to put towards the project. This will give you the final amount that you’ll need to finance.

Step 3- Narrow Down the Loan Programs That Would Best Fit That Amount.

Our research shows that most projects that are under $15,000 are best financed by 0% or low interest credit card products. Projects that are between $15,000 and $50,000 are generally a good fit for a personal or unsecured loan. Any loan amount that exceeds $50,000 is typically best financed with a home equity line of credit or a cash out refinance mortgage. You can use a simple home improvement loan calculator to run some payment scenarios to see what would best suit your budget.

Step 4- Find the Best Program.

Many contractors partner with finance companies that specialize in financing home improvement projects. Ask your contractor if they have a company to recommend or find one by researching online.

Step 5- Give Yourself Enough Time to Get the Loan Approved and Funded.

Many credit card issuers can give instant approval but it can take about a week for you to receive your card in the mail. Personal loans companies can also give you a very fast approval but it can take one to two weeks to get your loan processed. The home equity and mortgage programs not only require the most paperwork and fees, but also can take anywhere from 3-5 weeks to fund.

If you follow these simple steps to financing your home improvements you will ensure that you find the best financing program to suit your project and your family’s financial goals. Good luck!

Brandon Perry is the President of AMS Financial Solutions, Inc., a consumer finance company serving the Home Improvement, Swimming Pool, Medical & Dental, Travel, and Wedding industries since 2004. AMS services consumers direct and partner with thousands of service providers in these verticals to offer financing programs to their customers.

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When Congress passed the Dodd-Frank Act in 2010, one of its provisions banned outright bounties that that mortgage lenders had formerly paid to brokers for steering borrowers toward high-interest rate loans.

The post CFPB Targets Discrimination in Auto Loan Battle appeared first on Henley & Henley -- Credit Repair Attorney.

Chargeoffs at Capital One Financial Corp.’s U.S. card business fell to 4.61% in April from 4.69% in March, according to a Securities and Exchange Commission (SEC) filing.

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We thought it was time to have some fun with our infographic series with a little healthy competition. This week Credit Karma is comparing Android and iOS users to see who has the higher credit score. Scroll down to see who won the battle.

Let us know your thoughts in the comments section!

Amy Leone is the Public Relations Coordinator at Credit Karma. Before joining the team in June 2012 she spent most of her career as a TV news producer. When she’s not helping promote Credit Karma on a variety of media outlets, she’s probably out running or exploring her new state of California.

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The post Infographic: Android vs. iOS appeared first on Henley & Henley -- Credit Repair Attorney.

Good news: this morning the Supreme Court denied a debt collector's cert. petition in Convergent Outsourcing v. Zinni, a case Greg reviewed in detail last week here.

The post Court denies cert in Zinni appeared first on Henley & Henley -- Credit Repair Attorney.

Hi there! Ready to meet another awesome member of the Credit Karma team? Last month, we introduced you to Igor, our Front-End Web Developer Lead.

Today, meet Alex! Fun fact about Alex: he’s a HUGE fan of spicy food and regularly buys ghost pepper (the hottest pepper in the world) hot sauce to put on his food.

Want to learn more about Alex? Read on!

The Interview

What’s your title at Credit Karma?
Front-End Developer

Describe what you do at Credit Karma.
I build and style the visual part of our website, emails, or whatever our great designers deliver to me.

How long have you worked at CK?
One and a half years!

What’s your favorite thing about working at CK?
Nerf gun wars!

What’s your favorite snack in the CK kitchen?
I can’t share that… it’s a big secret because I don’t want people to touch my favorite snack! But I’ll give you a hint… it starts with an “h”.

What is something your coworkers probably don’t know about you?
I weighed under 100lb before I graduated high school.

What was your worst subject in elementary school?
History. It was a good time to fall asleep.

What’s a secret (or not-so-secret) talent you have?
I think I’m a really good singer when I’m drunk. But this has never been proved.

If you could pick any superhero power, what would it be and why?
Definitely teleportation! I’d be able to have lunch with my friends who live in other places in the world without wasting time and money.

What’s your best credit/money tip?
Schedule payments! Check on your credit health!

Want to meet more members of the Credit Karma team?

Meet Ezra, Jonathan, Cathy, Greg, Danielle, Jason, Andrew, Ian, Juan, and Igor!

Stay tuned as we continue to reveal the nerds behind Credit Karma!

I’ve been to karaoke with Alex and he is indeed good,

Jenna, Credit Karma Contributor

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The post The Nerds Behind Credit Karma: Alex appeared first on Henley & Henley -- Credit Repair Attorney.

Funny Money: The Finer Points of Getting Rid of Your Junk for Profit “Since you read awesome personal finance blogs like this one, surely you’re aware of the mystical powers of compound interest. But did you realize that the same principles apply to stuffed animals and squeeze bottles?” Money Under 30

Why Saving In Your 20s Is Easier Than Waiting “We’ve been over before why saving when you’re young is so beneficial, it gives your money a lot of time to double over and over. At an 8% rate of return (which is merely average over a long period of time), a $10,000 investment at age 25 will grow to be over $217,000 by age 65. That’s almost 22 times your initial investment! Saving while you’re in your 20s will yield incredible benefits, you just need to make sure you sock away as much as possible while you’re still young.” Sweating the Big Stuff

Overlooked Secrets to Do Away With Debt “To eliminate debt, you have to be both patient and persistent. There is no overnight solution to owing lots of money, but there are ways to minimize the obligations over time. Some of the most common techniques are reducing spending, making larger credit card payments, and getting a second job.” The Wisdom Journal

Pay Yourself First to Grow Your Savings Automatically! “One of the best ways to avoid dipping your fingers into your savings (especially your emergency fund for non-emergencies) is to automate your savings accounts so that your money flows through your personal economy without much interference from you. When you automate your savings accounts, you can force yourself to practice financial discipline — and work toward financial freedom.” Being Frugal

How to Spend Less on Some of Your ‘Needs’ “Enough about historical comparisons and international economics. Let’s look at a few examples of what Americans today consider needs and just how ridiculous (and expensive) they are. While we’re at it, let’s consider some common sense alternatives.” Free From Broke

The Difference Between Financial Freedom And Financial Independence “What is the difference between Financial Freedom and Financial Independence? Most people will tell you that they mean the same thing. They’ll say that it’s just a difference in terminology that can be used interchangeably. I won’t say that those people are wrong, but I have a slight difference in opinion.” Budget For Wealth

Don’t Overpay for Your Insurance “If there’s one thing that we all hate to pay, it’s insurance. In fact, I recently spoke to my car insurance agent and he even said that he hated to pay his insurance, and that’s his own field! But, even though we may not like it, and even though it feels like we’re just throwing our money away, it’s a necessary expense.” Not Made of Money

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by Greg Beck

As Brian Wolfman previously noted on this blog, the Supreme Court's holding in Genesis HealthCare v. Symczyk—that a defendant's settlement offer to a named plaintiff defeated certification of a collective action—was based on an highly questionable assumption: that a rejected offer of judgment under Federal Rule of Civil Procedure 68 mooted the named plaintiff's individual claim. Though noting a circuit split on that question, the Court declined to resolve it because the plaintiff had conceded the point below. Now, the Supreme Court is poised to announce whether it will grant certiorari in Convergent Outsourcing v. Zinni, a case involving only a non-class claim that the petitioner debt collector argues presents the question left open in Genesis. As our firm and Public Citizen argue (here and here), petitioners are wrong about that. But the Court has already twice held the case, and that gives at least some reason for concern. Absent another hold, we should learn the Court’s decision on Monday.

Unlike Genesis, the sole question in Zinni is whether the defendant's rejected settlement offer mooted the plaintiff's individual claim. The debt collector successfully argued in the district court that sending an email to the plaintiff's counsel offering $1,001 in statutory damages ($1 more than the maximum statutory damages under the plaintiff’s Fair Debt Collection Practices Act claim) plus "reasonable" attorneys' fees mooted the case. In an appeal consolidated with two similar FDCPA decisions, the Eleventh Circuit reversed, holding that in the absence of an offer of an enforceable judgment, the defendant's offer—even if accepted—would not have provided the plaintiff with complete relief. As the court explained, Zinni’s acceptance of the offer would have left him with nothing more than the defendant's “promise to pay,” which at most would have entitled him to pursue a breach of contract suit in state court. (In fact, Zinni's counsel has repeatedly been forced to bring such suits against debt collectors who reneged on similar settlement agreements.)

The defendant filed a petition for certiorari, which, in a coincidence of timing, was originally set to be conferenced just days after Genesis was decided. Seizing on the decision, the defendant in a last-minute supplemental brief argued that Zinni presents the perfect opportunity to answer the question left unresolved in Genesis: whether "an unaccepted offer that fully satisfies a plaintiff's claim is sufficient to render the claim moot." But, as we explain in our response, the Eleventh Circuit's decision in Zinni never decided that question. On the contrary, the decision was based on the court’s conclusion that, in the absence of an offer of judgment, the defendant's offer would not have fully satisfied the plaintiff's claim.

The defendant's position that an informal offer of less than full relief is sufficient to moot a case is therefore far more extreme even than the position vehemently rejected by the four dissenters in Genesis. If accepted, it would give defendants the power to unilaterally deprive federal courts of jurisdiction merely by sending an email. Even if the plaintiff accepted the offer, the district court would lack jurisdiction to enforce the settlement or even to determine the "reasonable" attorneys' fees provided by its terms. And a plaintiff who, like Zinni, rejected the offer would be left in an even worse position, with neither a settlement agreement nor enforceable judgment and thus without any means to obtain relief on his claims.

Although its decision to twice hold the petition is worrisome, the Court is unlikely to endorse such a result.

The post Genesis Aftermath: Can an Email Moot a Plaintiff’s Claim? appeared first on Henley & Henley -- Credit Repair Attorney.

California accused JPMorgan of illegal tactics to sue thousands of credit card borrowers behind on their debts, including “robo-signing.”

The post California AG Sues JPMorgan Over Debt Collection Practices appeared first on Henley & Henley -- Credit Repair Attorney.