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 [...]
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 [...]
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, [...]
