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Managing credit card debt in times of unemployment

Posted on July 10th, 2015 No Comments

Managing credit card debt in times of unemployment

A June 23 article on NerdWallet offered four workable tips on managing credit card debt for individuals during times of unemployment. These include the following: While looking for a new job, make sure to change your spending habits to stretch your funds. Retain your contingency funds and savings, although make it a point to settle minimum credit card […]

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Debt management tips for senior citizens

Posted on June 16th, 2015 No Comments

Debt management tips for senior citizens

It can be a complicated time when senior citizens begin approaching retirement, especially if you are saddled with large debts. Here are a few tips for those in this situation: First, understand where your money is going. It is important that you understand your spending habits and make a budget that suits your everyday needs. If you have several debts, […]

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Many in the U.S. have credit card debt

Posted on April 20th, 2015 No Comments

Many in the U.S. have credit card debt

A recent survey revealed that many Americans are still having trouble paying their credit card debts, although the number of those in debt has decreased somewhat, KOMO News reported on April 10. According to the National Foundation for Credit Counseling (NFCC) survey, at least one in three household occupants nationwide cannot settle their monthly credit card balance. […]

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Senator proposes bill for employees to get cash advance

Posted on January 21st, 2015 No Comments

Senator proposes bill for employees to get cash advance

U.S. Senator Sherrod Brown recently proposed a bill to help millions of Americans avoid the high interest rates of payday loans, WSPD reported on January 19. In the proposed bill, employees who qualified for Earned Income Tax Credit (EITC) may be given advance cash by their employers. After qualified employees get their advance cash, the Internal Revenue […]

Debt Negotiation , debt consolidation,
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Tips on how to handle credit card debt after the holiday season

Posted on January 7th, 2015 No Comments

Tips on how to handle credit card debt after the holiday season

A January 5 article of Market Watch provided helpful tips on how to manage credit card debts after the holiday season. • Individuals may opt to prioritize their credit card with high interest rate and make minimum payments on their other cards with lower interest rates. • Individuals who do not have enough cash to […]

Debt Negotiation credit card, , holiday debt
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Student debt not only a problem for the young

Posted on September 30th, 2014 No Comments

Student debt not only a problem for the young

A report recently released stated that the number of senior citizens in the U.S. plagued by overwhelming student loan debt has increased by three fold, an article by the New York Times stated on September 12. In the report, it was shown that student loan debts carried by elder Americans have now already reached $43 billion from $8 billion […]

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Cleveland Heights votes on regulations for payday loan lenders

Posted on September 23rd, 2014 No Comments

Cleveland Heights votes on regulations for payday loan lenders

The city council in Cleveland Heights on September 2 votes on a resolution to lift a temporary ban on payday loans, and another resolution that would appeal to the state legislature to cap interest rates on these types of loans, Cleveland.com reported. According to reports the city council will request the state’s lawmakers to require […]

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Celebrity chef burdened by overwhelming debt

Posted on September 3rd, 2014 No Comments

Celebrity chef burdened by overwhelming debt

Chef and TV personality Gordon Ramsay is more than $50 million in debt after his ventures lost millions of dollars last year, an article by Reality TV World stated on August 7. According to reports, Ramsay’s Kavalake Holdings and some of his TV shows in which he offered advice to struggling entrepreneurs lost over $10 million in 2013. […]

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Huge numbers of Americans have debts in collections

Posted on August 21st, 2014 No Comments

Huge numbers of Americans have debts in collections

According to a study released on July 29, 35 percent of Americans have a debt in collections, a Detroit Free Press article stated. In the analysis conducted by Urban Institute, it was found that many Americans had trouble paying debts on time. People plagued by debts were concentrated primarily in the southern region of U.S. and the majority of debts were related to mortgages. […]

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Americans’ credit card defaults increase

Posted on June 18th, 2014 No Comments

Americans’ credit card defaults increase

A study conducted by a credit card firm recently reported that credit card use has increased among Americans but less debt is being paid off, an article on the Voice of Russia US stated on June 11. According to CardHub.com’s forecast, by the end of 2014, at least $298.5 billion will have been defaulted by credit card holders in […]

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