Consumers living paycheck to paycheck are the first to admit that falling into credit debt is no laughing matter: Merciless collectors hounding them, a tarnished payment history haunting them, and the specter of bankruptcy looming before them. Economically-stranded consumers oftentimes lack the wherewithal and tools needed to create a workable budget and manage their credit […]

Credit reports play a pivotal role in a credit card company’s evaluation of whether an applicant poses a positive or negative credit risk. Lenders extract from them personal data concerning prospective borrowers, as well as their income, debts and credit payment history. A credit report provides a profile of the cardholders’ financial life, and creditors […]

Out of the blue, poor credit often sneaks up on consumers and strikes them like a bolt of lightning where it hurts most- in their pocketbook. The triggers for bad credit reports are diverse, ranging from unemployment, illness, and divorce to an insolvent business and irresponsible spending. A negative credit rating adversely impacts consumers across […]

First, what is debt consolidation really? In short, debt or loan consolidation is simple: you take out one loan to pay off many others. Why would you do this? Many times you can secure a fixed interest rate, a lower interest rate or simply for convenience. One of the most common examples of consolidated debt […]

Credit card debt has been growing steadily over the years as consumers have been using credit cards more frequently. Credit cards have been becoming more of a common place on a daily basis. According to the Federal Reserve Bank (Fed), the aggregate US consumer debt (including installment debt, but not mortgage debt) arrive at $2.46 […]

By, Credit card debt is increasing everyday in the U.S. with consumer borrowing increasing significantly in May 2007, the biggest rise in six months. The Federal Reserve Bank stated this Monday that consumer credit climbed at an annual rate of 6.4 percent in May. This rise in consumer credit is enormous since the 1.1 percent […]

Debt Relief through Consolidation and Repair Behind just about every mountain of debt is a pile of credit cards! Having a good credit report is essential in the world we live in. Credit helps us with some of the bigger things we wish to buy such as a home, car, vacation or other significant purchases. […]

After a long day at the office, the last thing you want to come home to is an endless amount of debt collection messages! Unfortunately, that’s exactly the kind of thing most people who are in debt experience on a daily basis. If you are someone who is suffering from a mountain of debt, perhaps […]

Consumers hoping for continued low mortgage rates were disappointed when Freddie Mac’s Primary Mortgage Market Survey recently revealed the opposite. On a brighter note, just one year ago rates moved into the high 6.80 percent range during the three month spring and summer period, but turned around and achieved a long-term run in the 6.06-6.20 […]

Credit enables consumers to pay for goods and services without having to pay the full price of the merchandise at the time of purchase. A credit card issued by a financial institution is one such form of consumer credit. Consumer credit laws protect an individual’s right to a fair and open marketplace and provide guidelines […]