A total of 428 consumers in one Pennsylvania county have been hit with lawsuits over their delinquent credit card debt in the past two months alone, according to a new report in the Lancaster Sunday News. Lenders like Citi, Capital One and Discover have been filing suits at or near record levels for the last […]
While the rate of bad credit card debt and other loans being written off by lenders has slowed in recent months, it should pick up again in the next 12 months. The financial analysis company Moody’s Investors Services says the rate at which bad debt is written off will likely skyrocket before the end of […]
In July, the Federal Reserve Bank of Boston released a paper [highlighting the social inequity of credit cards rewards programs. It found low income consumers were paying off credit card debt and, in doing so, lining the pockets of the rich who had enrolled in such programs. However, the figures the Boston Fed originally estimated […]
In the past, critics often derided the debt settlement industry as being very dangerous for consumers. But thanks to new federal laws governing the industry, it’s now considered much safer. Debt settlement companies will be required to actually reduce a consumer’s total debt amount before they charge for their services starting on October 27, the […]
When attempting to buy a product online, consumers have very few payment options that do not involve taking on credit card debt. But some say they’d prefer to have more. A new study from the online payment site eBillme.com found 27 percent of respondents said they would shop online more often if they had an […]
While most consumers across the country are trying to reduce their credit card debt, those in Atlanta, Georgia, still have considerably more than the national average. According to a story in U.S. News and World Report, whichcited statistics from a study by Experian, consumers in Atlanta carry more credit card debt than those in any […]
It appears consumers are now so worried about compiling credit card debt that many have stopped using credit to make purchases, and are using their debit cards instead. The total number of nationwide debit card transactions passed those made with credit cards for the first time ever in 2009, and is expected to do so […]
Many credit card companies have seen their businesses become more reliable even after the passage of the Credit Card Accountability, Responsibility and Disclosure Act thanks to more consumers paying off their credit card debt. Credit card companies, such as Capital One Financial and Discover Financial Services, have seen stabilized earnings and losses in recent months, […]
Many employees across the country have credit cards in their name that were issued by their employers to cover business-related expenses such rental cars and hotel rooms. But they may not be aware that they could end up stuck with the debt on those accounts if their employer can no longer pay the bills. About […]
Although many consumers may opt for debt settlement when they face serious financial problems, there are some aspects of the process that can be forgotten. According to a report from the western Colorado news provider the Grand Junction Free Press, many consumers who choose to deal with their creditors by seeking the help of a […]