JP Morgan Chase became the first bank to drop its arbitration clause from its credit card contracts, so Chase credit card holders will have the right to go to court to dispute a problem with its credit card decisions.

This decision was part of a settlement of an antitrust lawsuit filed by Minnesota Attorney General Lori Swanson that involved the largest arbitration company, the National Arbitration Forum, in July. The Forum is no longer part of the process of consumer-debt arbitration, but the banks have not yet settled the suit. This move by Chase will likely encourage other banks to do the same thing.

While Bank of America became the first one to announce that it would no longer require credit card, bank account and auto loan customers to sign away their right to sue and force arbitration, it has not yet settled the existing lawsuit. Capital One Financial, HSBC Holdings and Discover Financial are among the other financial institutions named in the suit.

The Consumer Federation of America (CFA) and the Credit Union National Association (CUNA) have come out today with their tenth annual holiday spending survey, and here's what they have found: Consumers aren't going to be spending as much on their holiday gifts as in previous years.

Could there be any news that's less surprising?

Not to knock them for getting this information -- it's always good to have the data on spending, if you're a retail store owner or, I guess, a personal finance journalist. But this isn't exactly a shock.

The Mortgage Bankers Association (MBA) reports that a record number of loans -- one in seven -- is delinquent, up from one in 10 a year ago.

Today's numbers also show that one in 22 families in the U.S. is in the process of losing their home, up from one in 34 a year ago. Based on these figures, we are now on track for 2.9 million foreclosure starts in this year alone.

The lenders' trade association is quick to blame this worsening trend on higher unemployment levels. But that ignores the fact that reckless lending precipitated the economic crisis and prolongs it each day with every new foreclosure, which forces down surrounding property values.

Sounds like it might be time to pass the hat again. Many churches are having trouble paying their debts. Bloomberg recently profiled the Evangelical Christian Credit Union, which has written some $3 billion worth of church mortgages over the past ten years. Unfortunately, the combination of payments that rise when rates adjust and less money to make those payments is hitting churches hard, and many of them are defaulting. Roughly 145 churches have had to declare bankruptcy because they couldn't make their mortgage payments.

Evangelical Christian's percentage of delinquencies has doubled since 2007. The company steered its clients into commercial mortgages that were similar to the deals many Americans struck on their home loans, with lower initial payments that would balloon after a period of years. Many of these institutions refinanced in order to expand or renovate their facilities. At the time, this arrangement was a cheaper way for churches to access money than holding bond sales; in addition, churches were often approved to borrow more money than they could have raised via more traditional -- and perhaps less risky -- methods.

Who doesn't have an unmarried friend who lost the house, or at least their investment in the condo, when the relationship went sour?

The key question when buying property together, according to a new book -- "Living Together: A Legal Guide for Unmarried Couples" -- seems pretty simple: Does your legal relationship match your private agreement?

But who wants to have that conversation when you are newly in love, or at least new to nesting?

No one, the book's author admitted to WalletPop.

The thrill of the hunt is compelling, especially when your grocer's ads tout "BIG SAVINGS" on favorite holiday meal fixins.

But even if you're just shopping for your weekly groceries this weekend instead of the trimmings and trappings for turkey day, it's still tough to say no to a good sale. And with most of us on strict, self-imposed budgets because of the current recession, shopping on the weekend becomes an even bigger temptation, a time to say, "But I've been so good all week, I deserve a little splurge!"

Tossing sale items in your cart can blow your budget if you're not careful. "I find it hard to resist great sales, so I'll buy far more than we need or than I can fit in my freezer," says frequent sale-shopper, Barbara Nelson.

About 71.5% of consumers will use cash, checks or debit cards this holiday season versus 28.3% who plan to use credit cards, which is about a 10% decrease from last year and a clear sign that consumers are weaning themselves away from credit cards.

As credit card interest rates climb along with credit card delinquency consumers clearly want to avoid digging an even deeper credit hole.

According to the National Retail Federation's 2009 Holiday Consumer Intentions and Actions Survey, U.S. consumers plan to spend an average of $682.74 on holiday-related shopping, a 3.2% drop from last year's $705.01. Only 28.3% of shoppers will use credit this year compared to 31.5% a year ago.

"Paying with cash is the best way to add a safety brake during holiday shopping. Studies show that consumers typically spend 12% to 18% less when we use cash for payment. Counting out and handing over cash is a sobering reminder of how much items really cost. It makes you pause and consider if the purchase is really worth your labor," Bill Hardekopf, CEO of LowCards.com and author of The Credit Card Guidebook, told me by e-mail.

Going to a payday lender can be a good financial decision. That is, if your Attorney General threatens to sue your payday lender, and they settle up, and then you receive your money back.

New York Attorney General Andrew M. Cuomo has just announced a $5.2 million settlement with two companies running "payday loan" companies.

Cuomo's office will be sending money to more than 14,000 victims. You may be one of those victims if you live in New York and have ever taken out a small loan with the businesses, Telecash or Cashnet.

The honeymoon has been over for a long time and in spite of your best efforts, the marriage is too. As you and your spouse approach the legal, financial and emotional issues of getting divorced, you can save a lot of money by working together.

Yes, I know, "If we could work together we wouldn't be getting divorced." But sometimes when people aren't trying to make the marriage work anymore, they can approach problems and discussions under a new light. And it is critical.

Divorce is very expensive and can have a long term impact on a family's finances. Here are some strategies to try before your day in court.

While some are declaring that the recession is over, the good news has not trickled down to my pocketbook. My husband and I are looking closely at all our expenses to cut our overhead. Our wages have decreased in the last year, mostly due to the slow down in my business, but costs have continued to rise. Utilities, gas, taxes, and food are taking more and more of our shrinking paychecks. We decided to take some action after looking at every expense in our budget. Maybe some of these tips can help you too:

For years, I've wondered if anyone ever just sent the government money and said, "Here, apply it to the national debt." After all, our national debt's a big problem, and if you're the charity-giving sort, you might want to make the United States your charity.

And then Reuters goes along and does a story about people who do just that. As it turns out, there's a government office that will be more than happy to take your check, should you decide your pet cause this year is going to be the United States' debt.

This is the last of a five-part series about how the writer and her husband, Charlie, tackled a major overhaul of their home and the pitfalls they faced along the way. To read the first installment click here.

The workers are gone, the dumpster was picked up, and we are touching up the stain and paint. Now that things are finished, we are so glad that we put in the quality finishes and the extra touches we wanted. The total cost was around $55,000 -- twice as much as we had originally planned.

The investment is definitely worth it. Now we have new plumbing throughout the house, updated electrical, refinished floors, and a state-of-the-art kitchen -- all upgrades that are bound to boost the value of our home if we ever decide to sell.

How well is the government's loan modification working? WalletPop's four-part special report continues with profiles of some of those trying to get help. To read the overview, click here.

Kathy Partak went into loan modification armed with the powerful combination of knowledge and motivation. She had worked in the mortgage business, so she knew her rights and the right vocabulary to use. And she had a step-rate loan that was about to step up dramatically.

Add to that an on-the-job shoulder injury that left her unemployed and Partak figured she was a perfect candidate for modifying the loan on her three-bedroom home in Auburn, Calif.

But Chase Manhattan Bank denied her a modification, Partak said, telling her, "Unemployment is not a permanent hardship."

"Hopefully not!" said Partak, 42. "But it's one of the reasons they allow for on their paperwork of qualification."

This is the second part of a five-part series about how the writer and her husband, Charlie, tackled a major overhaul of their home and the pitfalls they faced along the way. To read the first installment click here.

Now it was onto the next step: Demolition. The destruction was scheduled to begin right after the holidays.

Tom's take: Good idea to hold off on demolition until after the holidays. I can't tell you how many panicked calls I've received on my radio show from folks that absolutely had to get a major project done before an event (a holiday, wedding, anniversary party, sweet-sixteen, whatever). It never makes sense to put that kind of pressure on yourself -- or your contractor. Build a fudge factor into the schedule and the stress factor goes way down.

How well is the government's loan modification working? Find out in this four-part WalletPop special report, which begins with this overview and continues with three profiles of those trying to get help, which can be found here, here and here.

If the goal of the federal government's loan modification program was to frustrate applicants, then it certainly is succeeding. But if its goal was to prevent foreclosures, the effort may simply be postponing that eventuality for many.

With an estimated 3.1 million mortgages at least two months delinquent, through the end of October, just 650,994 homeowners had received adjustments through the Home Affordable Modification Program (HAMP) -- a notable uptick from past reports and a measurable step toward the Obama administration's goal of helping 4 million by 2012.

But from the halls of Congress to Internet message boards, anger rises about mixed messages, delays and denials without explanation and, most tangibly, the sharp decline in converting short-term loan adjustments into something more meaningful.