Bankruptcy Changes and Qualifications
The number of bankruptcy filings increased 17.5% during the first three months of 2010 compared to the same time period in 2009. This is according to the data released by the Administrative Office of the U.S. Courts on May 14th. Considering the economic state of this nation, the economic state of the globe, the number [...]
Are Consumers Really Paying Off Credit Cards?
A report out this week says that Americans reduced their credit card debt by $93 billion between 2008 and 2009. This could be seen by some as good news. Experts are not convinced. According to an analysis of federal data by cardhub.com, a credit card comparison site, during the third quarter of last year, bank [...]
Bipartisan Debt Commission Or Mission Impossible?
In an effort to rein in the ever growing national debt, President Obama signed an executive order last Thursday creating a bipartisan debt commission that will plan a course of action to address and diminish the federal budget deficit to 3% of gross domestic product by 2015. That is in comparison to the current 10% [...]
Ten Steps To Help You Be Debt Free
The current economy is now making it harder than ever before to pay off debt and remain debt free for any significant amount of time.
Top economist are now advising consumers to pay off their current debt and use cash whenever possible. These top economist have listed their key points in books and Internet articles. I [...]
Report: Consumers To Blame For Financial Crisis
A new report released from the Mckinsey Global Institute says consumers are to blame for the global financial meltdown of 2008. The Mckinsey report blames middle-class consumers… Americans, Britons, Canadians, and others for purchasing more home than they could afford.
The International banking Community and Wall Street have been looking for a way to deflect the [...]
Credit Card Debt Declining
According to the Federal Reserve, consumer credit card balances saw the largest dollar value drop since records began in 1968 and the biggest percentage drop of 18.5% since December 1974.
The Federal Reserves monthly G-19 Report considers various components of consumer debt which include revolving debt, consisting mainly of credit card debt, and non- revolving debt, [...]
