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Credit Card Debt Archives

What age group has the highest amount of credit card debt?

A recent post here described some of the credit card hurdles that recent college graduates may have to address as they head out into the world on their own for the first time. Some people may automatically assume that younger people, like recent college graduates, may be the most prone to running into significant credit card issues, such as credit card debt. But, are younger people really the age group that carries the highest amount of credit card debt?

Escondido residents address credit card debt through bankruptcy

Most people in America have at least one credit card. Many people have multiple credit cards. Credit cards can be a useful financial tool in some situations, such as covering emergency and unexpected expenses when short on cash. However, they can be a source of a significant problem that continues to build in this country in many forms: unpaid debt.

Will creditors push for changes to the CARD Act?

The CARD Act is a federal law that many of our readers may not be familiar with, although previous posts here have discussed some of the more important aspects of the law. However, even if Escondido residents have never heard of this law, they may have seen some of the changes that were implemented by this law when they open their credit card bills every month.

Are there credit options for individuals after bankruptcy?

Facing financial challenges and coming to the determination that bankruptcy is an appropriate option is a big step for Escondido residents who find themselves facing seemingly insurmountable debt problems. But for many people, the most daunting part of filing for bankruptcy is the prospect of rebuilding credit after the filing is complete. An Escondido resident who is about to file for bankruptcy may already have poor credit, and it may seem like there will be no chance of building up their credit score after bankruptcy. But, in reality, there are incremental steps that can be taken very soon after a bankruptcy case is over that may help rebuild credit.

Credit card debt consolidation versus bankruptcy

A recent post here covered the burgeoning reports of the increase in credit card debt in America. Seeing those reports can make a person wonder, just how high will credit card debt get in our country? But, for any Escondido resident who is already dealing with mounting credit card debt, the better question may be, what can I do about my own credit card debt issues? For some people, the choice may come down to filing for bankruptcy or attempting to consolidate their credit card debt.

How high could credit card debt get in America?

Most of our Escondido readers have heard many of the news reports that student loan debt is reaching an incredibly high overall amount from borrowers in America, and is becoming quite a burden. But credit card debt is rising too in San Diego and the United States. And that has some professionals asking, just how high could credit card debt in America get and what does it mean for the nation's economy?

Rebuilding credit after filing for bankruptcy

Our Escondido readers who are familiar with previous posts on this blog may know that filing for bankruptcy is not the financial "bombshell" that many people make it out to be. In fact, these laws are intended to help consumers face their financial challenges, get out from under the burden of overwhelming debt and move forward in life free from creditor harassment.

The interplay between credit card debt and your credit score

With the holiday season well underway at this point, there are probably quite a few Escondido residents who are beginning to rack up credit card debt. For some people, the credit card balances will be paid off in full when January comes around, and they will go about their usual financial practices. But, for others, the debt is simply added on top of existing credit card debt, and the balances roll over every month. This can not only result in higher minimum monthly payments, it can also result in a hit to your credit score.

Working through credit card debt with a bankruptcy filing

Many of our Escondido readers probably get several credit card statements each month, some with upwards of seven or eight different credit cards. And, anyone with even a halfway decent credit score will likely receive five or six different offers for even more credit cards in the mail every month. Credit cards can be useful financial tools, but they can also lead to some serious financial challenges if they are relied upon too much.