credit card debt
New Year’s Financial Resolutions for 2012
We all should have New Year’s Financial resolutions to help guide us in 2012 and improve our financial health during these financial hard times. Are you tired of thinking about your finances? The Great Recession has had a lasting impact …
Feeling Stressed About The Economy? You’re Not Alone
We’re stressed, relatively pessimistic, and unsure about where the economy going into a Presidential election year. Those are the unsurprising findings from the CredAbility Q2 Consumer Distress Index this week. The latest data reflects an average score of 69.20 on …
What Can A Credit Counseling Agency Do For You
Q: I am hoping that you can help!!! We have contacted so many people and everyone tells us the same thing. My wife and I make too much money for them to help us. There are so many issues and …
Clark Howard Show Notes January 3 2011 – Personal Finance Resolutions for 2011, Jobs and Employment, Economic Outlook
Clark Howard Show Notes January 3 2011 – Personal Finance Resolutions for 2011; Bank of America will refund $3 billion to Fannie Mae and Freddie Mac; Economic Outlook; Mortgage Market Outlook; Wall Street Opens with a Bang; Construction and Manufacturing Tick Up; Pay Down Your Debt says David Bach; Small Business Taxes Made Easy by Eva Rosenberg.
Credit Debt, Unemployment Affect Holiday Consumer Spending
Credit debt and unemployment affect holiday consumer spending. Consumer spending this holiday shopping season will be affected by credit debt and unemployment. Holiday shoppers consumer spending habits affected by credit card debt and unemployment this holiday shopping season. Credit card companies say the decrease in holiday consumer spending is creating a “credit winter.”
Don’t Pay Off Old Debts to Debt Collection Agency
Don’t pay off old debts to a debt collection agency. If a debt collection agency asks you to pay off old debts, don’t pay off old debt to the debt collection agency right away. Fair debt collection time frames may expire on old debts.Check your credit history to see if old debts have been forgiven by a debt collection agency. Don’t pay off old debt to a debt collection agency unless old debt appears on your credit history.
Reform In Credit Card Rules Result In Additional Protection For Consumers
New credit card rules will go into effect on Aug. 22, 2010 according to the Independent Community Bankers of America. New credit card rules deal with over-the-limit fees, inactivity fees and annual percentage rates. Penalties from credit card companies will not be allowed to exceed $25 in many cases. In addition, the new rules require credit card companies to explain increases in one’s APR and reevaluate that rate increase biannually.
Debt Help For a Friend
If you are a generous person and your friend ask you to help with their debt, make sure you understand the consequences of helping someone in debt. If your friend is in over their head, in severe debt, owing more than his house is worth, and in danger of losing his property you might not want to get involved. By helping a friend with their debt, anyone could become a good Samaritan in debt too. Ilyce Glink offers resources that can help you deal with a friend in debt.
Paying Down Credit Card Debt To Buy A House
If you have substantial credit card debt, you might want to pay down some of that debt before applying for a mortgage to buy a house. The home buying experience can be trying enough, but if you have too much debt on your hands, you might not qualify for a mortgage. You may assume that you should do everything to pay down that credit card debt even if it means using retirement funds to do that. You might be wrong. Using your retirement funds should probably be your last resort when dealing with debt problems.
Inheritance Can Help Pay Off Credit Card Debt, Improve Credit Score
If you receive a cash inheritance, one of the smartest things you can do is pay off your credit card debt. By paying off your credit card debt you will improve your credit score by having more credit available. Paying off your credit card debt with a cash inheritance will provide the most benefit to your personal finances.
