Worries About Recession Loom Large
April 3, 2008
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]
Consider a Debt Reduction Program
April 2, 2008
If you have been doing some research into the options available to you to that could help to resolve your debt and credit problems, you may have run across the term “debt reduction program” and wondered if this was the solution for you. Just what is a debt reduction program? [Read more]
Late Credit Card Payments on the Rise
April 2, 2008
It appears that more American consumers are late in paying their credit card bills. The organization known as CardTrak reports that the percentage of customers who are tardy in making credit card payments is at a 3-year high.
The trend is actually a money-maker for credit card companies. That’s because credit card issuers earned $18.1 billion in penalty fees in 2007, up from $17 billion in 2006. [Read more]
