consumer debt Archives

74% of Americans are Getting Married with Debt

Posted on June 15, 2018 by | Meghan Alard (3-minute read)

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.

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Can You Afford the Cost of Debt?

Posted on April 6, 2018 by | Meghan Alard (4-minute read)

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?

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Don’t Loan Credit Cards!

Posted on March 30, 2018 by | Meghan Alard (3-minute read)

If you thought lending money to family was a bad idea, consider that 36 million Americans admit they’ve run into trouble when they decided to loan credit cards to friends and family. Learn why it’s a bad idea and what you can do instead to help someone out.

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Past Due Debt Payments at an All-Time High

Posted on March 2, 2018 by | Meghan Alard (3-minute read)

A new report finds that American consumers are breaking records with past due debt payments, while businesses are managing to keep up. If the economy is strong, then why are some many families facing collection accounts and credit damage?

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Which Cities are Home to the Highest Credit Card Debt?

Posted on February 23, 2018 by | April Lewis-Parks (3-minute read)

A study of 25 metropolitan areas in the U.S.Cities shows thoese with the highest credit card debt take longer to pay it off. Is your city on the list?

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Big Changes Coming to Credit Cards Offering 0 Interest on Balance Transfers

Posted on February 19, 2018 by | April Lewis-Parks (4-minute read)

As consumer debt levels continue to break records, driven by credit card debt, many households may turn to balance transfer credit cards to consolidate. However, new changes in credit cards offering 0 interest on balance transfers could make this type of consolidation less beneficial.

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What Causes America’s High Credit Card Balances?

Posted on February 16, 2018 by | April Lewis-Parks (3-minute read)

Americans have record high credit card balances that are often caused by covering daily expenses to make ends meet. We look at reasons for debt and offer helpful tips on how to achieve a balanced budget so you can avoid credit card debt.

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Check Your Paychecks This Month

Posted on February 5, 2018 by | Meghan Alard (4-minute read)

The Republican tax bill won’t affect your filing this year, but you may see tax benefits as soon as February 2018. According to the U.S. Treasury, about 90% of people will see more take-home income this month as the reform reduces how much is taken out of your paycheck. Here’s what you need to know…

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Good Debt vs Bad Debt

Posted on February 2, 2018 by | Meghan Alard (4-minute read)

A new study finds that 2 out of 3 consumers believe they will never be debt free, but that’s not necessarily a bad thing when you consider the difference between good debt vs bad debt. We explain the difference so you can get the right financing for your needs.

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Credit Card Use Continues to Climb

Posted on January 19, 2018 by | April Lewis-Parks (3-minute read)

Consumer credit card use continues to climb, now beating pre-recession levels of spending. Credit card debt increased by 13% in November alone, leading to an all-time high of $1.023 trillion. Here’s what you can do to pay off your debt.

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Millennials Fear Debt More Than Dying

Posted on November 10, 2017 by | April Lewis-Parks (4-minute read)

Death, war, drowning due to sea level rise – all those fears are nothing compared credit card debt for Millennials. So why Millennials fear debt so much?

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Don’t Play the Credit Card Balance Shuffle

Posted on October 23, 2017 by | Meghan Alard (4-minute read)

Trying to game the credit system to achieve a higher score can seem like a great idea, but one wrong move could land you in a heap of credit card debt.

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What is Unpaid Credit Card Debt Costing You?

Posted on October 16, 2017 by | Meghan Alard (3-minute read)

Nearly half of Americans carry unpaid credit card balances for more than two years. We calculate the cost of credit card interest charges over two years.

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How Many Credit Cards Do You Have?

Posted on August 18, 2017 by | Meghan Alard (3-minute read)

In answering the question, “How many credit cards do you have?” the real question should be, “Do you have one card too many?” Find the answer here!

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Don’t be Fooled by Deferred Interest!

Posted on June 19, 2017 by | Meghan Alard (4-minute read)

Deferred interest promotions offer great advantages when you buy, but people often get blindsided by higher costs once the promotion period ends.

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How Do You Decide Which Debt to Pay First?

Posted on June 12, 2017 by | Meghan Alard (4-minute read)

A new study finds people will stop paying their mortgage before an auto loan or even personal loans. So, how should you decide which debt to pay first?

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Statute of Limitations on Debt

Posted on March 13, 2017 by | Meghan Alard (3-minute read)

Arizona increased the statute of limitation on debt collections for credit card debt. Learn about the debt clock and when it starts where you live.

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Feeling Debt Shy?

Posted on February 17, 2017 by | Meghan Alard (3-minute read)

A new survey consumers are feeling debt shy and don’t intend to take on new debt this year as a result. Here’s what to do about the debt you already have.

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Good News in Personal Finance

Posted on October 7, 2016 by | April Lewis-Parks (3-minute read)

In spite of approaching $1 trillion in credit card debt and being over $1 trillion in student loan debt, there’s some good news in personal finance, too.

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A Cautionary Tale of Debt Settlement

Posted on September 1, 2016 by | Meghan Alard (4-minute read)

Navys Flores thought debt settlement was the right way to eliminate credit card debt, but three years later she was forced to call NBC 6 Responds for help.

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More Money or Less Debt?

Posted on June 24, 2016 by | Michael Koretzky (3-minute read)

A new study finds half of Americans believe they will die broke if their financial situation doesn’t change by subtracting debt and adding income.

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Can You be Arrested for Debt?

Posted on March 14, 2016 by | Meghan Alard (6-minute read)

Debt collectors are finding ways around the FDCPA and issuing warrants for failure to comply with court orders over unpaid credit card debt. What can you do?

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