Personal Finance and Investing

Nowadays, many of us have at least one credit card or charge card.

Similar to the personal computer, the credit or charge card has been regarded as another useful tool and even a necessity in our daily life.

You may probably want to possess a card for the following reasons,

1. Convenience Purpose

Most people use a card make payment for may things, from air tickets to business entertainment to the necessities or even to make a donation to charity.

2. Cashless Purpose

Many people prefer to make payment by credit or charge card instead of carrying large amounts of cash.

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Fair Issac states that it will appeal the jury verdict.

TransUnion, Experian Defeat FICO Trademark Lawsuit (Update2)

By Andrew M. Harris

Nov. 20 (Bloomberg)—TransUnion LLC and Experian Plc defeated a lawsuit brought by Fair Isaac Corp. claiming that their credit-scoring system infringed FICO trademarks.

Fair Isaac will appeal the federal jury verdict, the Minneapolis-based company said today in a statement. Fair Isaac sued the companies and Equifax Inc. in 2006, alleging they sought to monopolize the credit-scoring market and confused consumers with their VantageScore model. <

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The answer to the question of how long a bankruptcy will keep you from getting credit isn’t as straight-forward as you might think. Generally speaking, a bankruptcy filing remains on your credit report for 10 years. However, successfully discharged Chapter 13 bankruptcy proceedings will usually remain on your credit report for only seven years.

Chapter 7, 11 and 12

If you file for bankruptcy under Chapter 7, 11 or 12, the bankruptcy notation will be on your credit report for 10 years, without exception. E

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Understanding how to handle debt and prepare for retirement in the current economy is certainly much more challenging than it would have been 2 years ago. Many consumers have had to put their planned retirements on hold due to loss of capital assets such as stock portfolio assets. But there are also many consumers who have chosen to go ahead and retire as planned and reduce spending so the retirement savings stretch further.

Managing debt is always a critical issue, but for many today it is mandatory if they expect to survive the recession without losing their homes and other assets.

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