Consumer Credit Card Debt Breaks Records… Again.
It’s official. Consumers ended 2018 with a record $870 billion in credit card debt. If you have high balances to pay, Consolidated Credit has some advice...Read full article
Category: Debt Advice
Expert debt advice that helps you take control of your financial world.
Managing debt is an essential skill for financial stability. But with record-levels of consumer debt in the U.S. many households struggle to stay ahead of their obligations. Consolidated Credit’s certified team of experts specializes in understanding today’s financial landscape so we can help people navigate it effectively.
The articles in this section tackle today’s biggest debt challenges, offering advice for how to get ahead. We offer practical debt advice for home, auto, student loans and (of course) high interest rate credit cards. If you need to find debt relief, visit Consolidated Credit’s Debt Solutions Guide.
A Snapshot of Credit Card Debt by State in 2019
Total debt and the number of delinquent accounts are both climbing. We look at average credit card debt by state and offer tips to eliminate debt...Read full article
Who Has the Worst Average Credit Card Debt in America?
The average credit card debt in America is getting worse, but the increases are not equal everywhere. We look at the cities with the fastest growing credit card balances and offer advice on how to pay off debt fast...Read full article
Figuring out the Finances of the Government Shutdown
The FDIC has issued a statement and offered financial advice for federal employees affected by the government shutdown, specifically furloughed homeowners...Read full article
What to Do If You Receive an Unexpected Emergency Room Bill
If you go to an in-network ER, but you get treated by an out-of-network ER doctor, it can lead to major unexpected emergency room bills for you to cover...Read full article
Going into Debt After a Cancer Diagnosis
If you went into debt after a cancer diagnosis, you’re not alone. Learn about debt relief options so you can regain control and focus on your health...Read full article
Millennials’ Biggest Source of Debt Might Surprise You
You might think that most Millennials struggle the most with student loans, but a new study reveals that their biggest source of debt is credit cards...Read full article
Understanding the Rate Hike Impact on Your Debt and Savings
We help clients enrolled Consolidated Credit’s relief program understand the Federal Reserve rate hike impact on their credit card debt, loans and savings...Read full article
How to Avoid Having an Application for Student Loan Forgiveness Denied
99% of borrowers that applied for Public Service Loan Forgiveness have had their loan forgiveness denied. We explain how to ensure your PSLF is approved...Read full article
Are You on a Yo-Yo Diet of Debt Repayment?
Americans paid off $40.6 billion of debt in the first quarter but added $30 billion back in the next. Are you on a yo-yo diet of credit card debt repayment?..Read full article
Understanding the Effects of Missed Payments
If you have credit cards, the impact of missed payments can be massive. Here’s what you can expect for budget and credit if you miss a credit card payment...Read full article
Reducing the High Cost of Credit Card Debt
Consumers pay over $100 billion every year on credit card interest charges and fees. We explain how to minimize the high cost of credit card debt...Read full article
Which State Has the Highest Student Loan Debt?
A new study from WalletHub explores which state has the highest student loan debt and which borrowers have the biggest student debt burden...Read full article
Dealing with Debt Caused by Domestic and Economic Abuse
Domestic abuse survivors often amass debt getting out of a relationship or from economic abuse. Consolidated Credit helps victims pay off their debt...Read full article
US Consumer Debt Eclipses Mortgage Debt
For the first time, US consumer debt has eclipsed mortgage debt, because Americans have more household debt tied up in credit cards and student loans...Read full article
More Americans Focus on Paying Down Debt in 2018
Americans hit record high credit card debt levels at the end of 2017, topping $1 trillion in revolving debt. The good news is that consumers repaid $40.3 billion in the first quarter of this year. Consolidated Credit offers three tips for paying down debt yourself...Read full article
74% of Americans are Getting Married with Debt
Three out of four couples will use credit to finance their wedding, with an average price tag of $33,391. We explore why getting married with debt is a fast way to ruin your relationship and offer tips on how to enjoy a debt-free wedding...Read full article
Which State Has the Most Credit Card Debt in 2018?
Americans have more credit card debt than ever, but four states outspend the others significantly. Learn which state has the most credit card debt and what you can do to pay your part of it off...Read full article
Student Loan Interest Rates Set to Rise Again for 2018-2019
Federal student loan interest rates are set to increase for the second year in a row on July 1 of this year. Learn what parents and grads can do to keep education borrowing costs low to avoid problems down the road with student loan debt...Read full article
Is There a Tie between Student Loans and Credit Health?
Is there are correlation between student loans and credit health? A new FICO study suggests that although student loan borrowers don’t always have bad credit scores, having student loans may make overcoming financial challenges much harder...Read full article
Is Debt Delaying Your Retirement Savings Goals?
A new survey finds that American workers that hold non-mortgage debt, such as credit card debt, are much less likely to save for retirement. Consolidated Credit explains how to save and pay off debt...Read full article
Are Long Term Auto Loans the Best Commitment?
A new report finds long term auto loans are getting longer and longer, leading to more time in debt and higher costs due to added interest charges. Do borrowers really benefit from that commitment?..Read full article
What States Can Revoke Professional Licenses for Defaulted Student Loans?
A Texas teacher lost his dream job as a teacher after he defaulted, and Texas isn’t the only state that does this. We detail what states can revoke professional licenses for defaulted student loans...Read full article
Can You Afford the Cost of Debt?
Another interest rate hike by the Federal Reserve means that the cost of debt for consumers just got higher again. WalletHub has revised their map of cities with the most and least sustainable credit card balances. Can you still afford to pay off your debt in a cost-effective way or do you need debt relief?..Read full article
