A recent study revealed that, compared to many states, Alabama’s households tend to have much lower credit card debt, a Thursday, December 8 article of al.com reported. The average credit card debt of households in all states is $15,675, but reports revealed that Alabama households have an average of $1,866 in credit card debt. Data...
Financial experts have observed that though many people are earning more money, nationwide credit card debt is also on the rise, noting the $912 billion debt from January to June of this year. Experts noted that mitigating credit card debts could be considered “one of the wisest investments” people can have. This is often conflicting,...
A lawsuit was recently filed against American actress Tori Spelling due to allegations that she failed to settle her overwhelming credit card debt, an October 4 article of Toronto Sun reported. Reports revealed that American Express filed a lawsuit against Spelling, 43, after she failed to settle nearly $37,982 worth of credit card debt. The credit...
A recent report by Bloomberg observed that many credit card users are struggling to pay off the interest rates on their previous credit card balances. According to College Professor Scott Fulford, Americans at an early age start to heavily depend on credit card use. In the 25 to 50 age bracket, the study found out that an...
A recent study by NerdWallet has shown that credit card debt for U.S. households is on the rise once again. According to the report, the average debt, which is now $15,355, has decreased since the recession, when it was as high as $17,000 in December of 2008, but has increased since March of 2014 when...
A meeting was held recently in Troy City to inform residents about predatory loaning businesses, WSFA12 reported on June 12. According to Troy City Councilwoman DeJerilyn King Henderson, many consumers did not know that they are likely paying more in interest to payday loan businesses compared to financial institutions. The public meeting held on June 11 also...
ABC 7 offered some tips for senior citizens who may be struggling with debts as they reach retirement age. In this situation, you may want to consider the following ways to decrease stress over your finances: Identify all expenses and create a workable budget. Look for other ways to receive additional funds; however, make sure that other public benefits...
On March 10, CBS reported that credit card debt last year skyrocketed and the trend is expected to continue into 2015 as the U.S. economy continues to improve. According a recent survey from CardHub, a total of $57.1 billion in new credit card debt was recorded in the U.S. last year. Such increase reportedly has...
According to a recent study, older people are likely to exhibit signs of depression if they are plagued with a certain amount of unsecured debt, a Newsday article stated on August 1. In the study conducted at Rutgers University, the researchers stated that an estimated 30 percent of people aged 51 and above have unsecured debts, such as from a credit...
A recent report by real estate firm RealtyTrac stated that there has been a steady decline in foreclosure activity in the last eight years, CNBC reported on June 10. Reports said that in May, banks acquired fewer homes and property owners filed for fewer foreclosures than in the past eight years. At least 109,824 homes nationwide were recorded in foreclosure...