Approximately 30 million Americans have an average of $1400 debt in collection, according to the Consumer Financial Protection Bureau (CFPB). Their proposal: they should police companies with more than $10 million in annual receipts from debt collection. Their goal: help consumers hoping for debt relief to get a break from abusive and unfair debt collectors. […]
Americans made significant efforts to reduce debt on their credit card accounts during the month of January, reversing several months of increases in the amount of credit card debt they carried. During the month of January, the amount of debt carried on consumers' credit cards slipped 4.4 percent to a nationwide total of $800.9 billion, […]
Consumers who are wary of the high cost of dealing with credit card debt and had worked hard to chisel down their balances may be excited to learn that lenders are once again offering more affordable accounts. Though the hottest competition among the nation's top credit card lenders remains for those who have the best […]
Protections added for consumers as it relates to their financial accounts have generally led to Americans having better control over their credit card debt and, perhaps as a consequence, filing fewer complaints about their cards. Data from the Better Business Bureau reveals that the number of complaints lodged over consumer credit card accounts slipped 28 […]
Consumers who want to have a more convenient way to make payments and even keep better tabs on their credit card debt may soon have a number of options available to them. As more companies enter the mobile credit card payment system industry, the quality, convenience and ubiquity of these systems is likely to improve […]
Federal data shows that aggressive debt collection companies were the cause of many consumer complaints last year. A report released by the Federal Trade Commission found that companies trying to collect credit card debt were the reason behind a full 10 percent of consumer complaints last year, the second highest percentage of any complaint topic, […]
Consumers are growing more comfortable in dealing with credit card debt these days, and demand for new lines of credit of all kinds has grown substantially. In the second half of 2011, the number of inquiries for credit accounts, which are viewed as a reasonable gauge for consumer credit demand, increased 2.7 percent, according to […]
As many consumers continue to grapple with credit card debt, the Consumer Financial Protection Bureau is trying to add more ways for Americans to better understand the situation they face when seeking debt relief. One of those protections seems to be having a positive effect on some of the nation's most troubled borrowers, according to […]
Younger consumers who want to take advantage of the best rewards credit card offers available may not be able to do so because of their limited borrowing history. While many of the nation's top credit card lenders are now extending consumers more offers for rewards accounts, especiallythose that grant bonus rewards for meeting certain spending […]
In an effort to get a better handle on outstanding credit card debt and generally improve their financial situations, many consumers across the country are likely to be more careful about what they do with the money from their annual tax returns this year. This year, the two most popular consumer plans for how to […]