Monthly Archives: October 2011

The APR: apples to apples

Posted on October 24, 2011 by Deborah Roher

Now let’s discuss what was innovative about the APR back when it became a mandated disclosure, and why it’s so important in allowing you to shop for the best credit deal. Before you ever heard of the APR, you knew … Continue reading →

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The Annual Percentage Rate: the real cost of credit

Posted on October 17, 2011 by Deborah Roher

The other conspicuous disclosure on every Truth-in-Lending disclosure form is the Annual Percentage Rate, or APR.  Expressed as a percentage (%), the APR is defined as “the cost of your credit as a yearly rate.” Behind this seemingly simple definition … Continue reading →

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The Finance Charge: your “price tag” for credit

Posted on October 10, 2011 by Deborah Roher

On every TILA form two disclosures are especially conspicuous, printed in larger and bolder type than the others:  the Finance Charge and the Annual Percentage Rate (APR).  The Finance Charge, expressed in dollars and cents,  is defined as “the sum … Continue reading →

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Time for the Orrall exam

Posted on October 3, 2011 by Deborah Roher

I interrupt this consumer education to bring you a rant,  occasioned by a recent  special election for state representative here in southeastern Massachusetts.   The newly elected representative is Keiko Orrall.  A Republican living in the town of Lakeville, she introduces … Continue reading →

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