Debt Disasters

You’re not quite sure how it happened, but it seems like you are surrounded by debt. Every day it seems like more and more bills have been stuffed into your mailbox. How did your finances reach this point, and why? In order to answer this question, you are going to have to figure out some of the mistakes you made that you are paying for (or not paying for!) now. [Read more]

Don’t let the lure of credit cards put you in debt

Americans who have debt problems did not deliberately set out to have the situation fall upon them. Many people just do not realise along the way, how their financial situation is deteriorating around them.

The US economy runs on cheap and available credit, which we all take advantage of. But, when things start to turn a little ugly in the financial world, as they are now. We can all end up with a debt crisis that can be difficult, if not nearly impossible, to resolve without serious expert help. [Read more]

New Database Lets PCI Share Information With Banks and Vendors

Today, the Payment Card Industry Security Vendor Alliance, or PCI SVA, stated that it has developed and launched the PCI Knowledge Base. This searchable database will be accessible by lenders, banks, and merchants who need to access the PCI SVA’s vast store of information about the various payment cards available in the market today. [Read more]

Could The Credit Crisis Be Over Soon?

Although many are concerned about the economic condition of the country, John Mack expressed a particularly rare take on the credit crunch, believing that an end is in sight to the troubles in the US subprime and leveraged loans market and that the crisis could very well be over in as little as six months.

John Mack, chairman and chief executive of the Morgan Stanley corporation, said that, although the market conditions are the worst he had seen in the 40 years that he has operated on Wall Street, the problems in the subprime and leveraged loans market are at the end of their line and coming to a closure. In his words, they’re in the “top of the 9th inning”, making an analogy to the last part of a baseball game. [Read more]

Tidy up your finances with consolidation

Anyone that has to deal with a wide range of debts with a range of different lenders will know how messy financial management can be. It can be really difficult as well as frustrating to have to juggle different loans and deal with a variety of creditors, and because of this dealing with your finances can become a time consuming and stressful job.

These days many of us find ourselves having to juggle a range of financial commitments due to high debt levels, but there is a way in which you could reduce the number of debts and creditors that you have to deal with, thus reducing the amount of time that you spend on managing your finances. You could even save yourself some money on your outgoings each month. [Read more]

Credit Counseling Can Help Reduce Debt

You decided that you were tired of struggling with your bills every month, and thought the best thing you could do for yourself and your future would be to consolidate your debts. That way, you would just have one bill to pay every month, save some money on the interest, and everything would be fine, right? [Read more]

Credit Card Debt Goes To Court

Even though the days of debtor’s prison are long gone now, any of your creditors can still take you to court if you have fallen behind on your payments and ignored their letters warning you about what would happen if you did not get in contact with them. You can be served with papers by a law enforcement agent or a process server at your workplace or at your home demanding your appearance in court at any point during the collection process. [Read more]

Financial Experts Recommend Boosting Savings

Financial experts say that you should pad your checking and savings accounts so that you have not only enough money to pay your regular bills, but also to pay insurance deductibles and emergency costs.

In 2-income families, it’s a good idea to sock away enough so that you could make ends meet should one of the wage earners become unemployed or physically unable to work. [Read more]

Consumer Debt Management

Does it seem to you as if your life has become one financial crisis after another? You shouldn’t feel too bad, because you certainly aren’t alone. Many people all over the country are feeling the “pinch” just like you are, for many and varied reasons. Some have a long commute back and forth to work, and are blaming the price of gasoline for their financial woes. [Read more]

Worries About Recession Loom Large

Concerns that the current housing crisis could propel the nation into recession have deepened.

Analysts at Deutsche Bank AG say that a 20% decline in housing prices could lead to an all-out recession.  That’s because consumer spending could decrease for 6 months or longer - the textbook explanation of a recession.  The Federal Reserve Board has said that the typical American spends 3.5 cents of each dollar his or her house increases in value. [Read more]

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