While many Americans have piled up thousands of dollars’ worth of credit card debt in the months since the recession began, there is help on the way thanks to the new financial reform bill. The bill, which passed the Senate 60-39, will add new help for Americans in the form of the Consumer Financial Protection […]
Most consumers know that they have a credit score, and many are aware of what it actually is. However, a lot of people probably don’t know exactly what that number means. As more consumers’ credit scores sink below 650, the basic cut-off rate between prime and subprime borrowers, it’s important that they know the consequences […]
Many credit card companies across the country have seen an increase in the rate at which they’ve written off delinquent credit card debt as irretrievable in recent months. But one company that issues cards for major retail chains actually reported a decrease in its charge off rate. Alliance Data Systems, which controls credit card and […]
Sales at retail and food service businesses declined slightly in June, thanks to a drop in consumer spending. According to the latest figures from the U.S. Census Bureau, retail and food services had sales of $360.2 billion, a decrease of 0.5 percent – though that number is within the margin of error – from May. […]
Many consumers across America are struggling to pay their bills. They may be deep in credit card debt, behind on medical bills, have other debts they simply can’t pay, or even a combination of the three. If this is thecase, they may have heard about a debt settlement program on the TV or radio and […]
Many consumers that have been considering debt consolidation might have found it difficult to get a loan from traditional banks thanks to the tighter lending restrictions forced by the economic downturn. Butthere is a new trend that has helped many Americans get the money they’re looking for called peer-to-peer lending. According to CBS News, the […]
More consumers are seeing their credit scores drop off this year. According to a report from the AP, which cited new statistics provided by FICO, 25.5 percent of Americans – about 43.4 million – have a credit score below 600, meaning lenders view them as a risk, leaving them unable to qualify for credit cards, […]
Millions across the country have faced the possibility of having to declare bankruptcy. For increasing numbers New Jersey residents, that possibility is becoming reality. According to a report in the Times of Trenton, the number of bankruptcy filings in the state increased considerably – by 27 percent – in the 12-month period ending in May […]
Thanks to worries over the state of the economy, even holiday discounts weren’t enough to push consumer spending forward significantly. According to a report from Marketwatch, a number of retailers saw June sales push ahead slightly as consumers shopped both for the holiday discounts and as a result of rising temperatures nationwide, while others flagged […]
All the latest numbers make it look like a success story. Credit card debt and delinquencies have declined in recent months, and experts hail these numbers as a sign that Americans are pulling themselves out of financial trouble. But a new report in the Wall Street Journal says a deeper look tells the opposite story. […]