Survey measures stress of holiday credit card debt 
With most of it over, we can now look back over the 2011 holidays, and ask: Was it worth it? Of course, spending time with family and friends is priceless, but the season as a whole comes with a big price, not least, for many, paying for it afterwards. Two November surveys revealed just how stressful the financial aspects of the season are to many Americans.
Credit cards taking the strain…
USAAs third annual holiday spending survey found that 48 percent of respondents were going to use their credit cards to buy holiday gifts (up from 42 percent in 2010), but surprisingly few consumers planned to clear their credit card debt immediately. As the organizations press release put it, Older is wiser when it comes to credit card management. T
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Tags: Card Debt, Credit Card, Credit Card Debt, Debt
Mr. Credit Card,
I’ve looked around your site and it looks like you are pretty good at helping people work down their debt. Will you help me?
I have about 17,000 worth of credit card and medical debt. I have a job and I am making the payments. It’s slow, but I am not past due on anything.
Is there any faster way to reduce this debt? Can I negotiate? How do I do that? What do I need to do to get the debt to go away faster? I read somewhere that I had to pay taxes on the forgiven debt. Is this true?
Thanks,
Phil
Phil:
The state of the economy has left a number of people, just like yourself, looking for a way to get rid of their debt the fastest way possible. Besides continuing to pay on your bills, there are a couple of ways to reduce the debt a little quicker. For
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Tags: Debt
When a person realizes that paying multiple debts becomes overwhelming, non profit debt consolidation is a capable option. Many times a person may be invaded by the credit card debt, unpaid or overdue bills and personal loan debt. A person can come to the conclusion that the payment of any debt is simply impossible. This financing plan enables individuals to make a single affordable monthly payment. Debt that has accumulated from several different locations and factors is now combined into one payment. This restructuring allows borrowers to understand and handle the financial situation better.
It is important to maintain a payment system where all payments are effective, and the consumer will have a better understanding of the situation when the process continues.
As time passes many consumers may find less expensive ways to consolidate debts. Full Post…
Tags: Debt, Debt Relief
Debt has been plaguing American credit card holders for decades and since recent high interest rates and changes in the fee structures of many credit card providers have driven some people over the edge. Combine all that with the high rates of unemployment and a true credit crisis was upon us. In recent years, things got really bad for consumers. Now, there is legislation getting passed to help the consumer and protect them more from unfair credit card practices.
Since changes are being put in place, more consumers find there is less of a stigma associated with credit card debt burdens.
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Tags: Debt
Thanks to the credit crunch, the recent economic recession and the rising cost of education, student debt is more prevalent than ever. Between credit cards and student loans, many graduating seniors will have as much as $50,000 to $60,000 in debt that has to be repaid.
Here are a few strategies that can be used separately or together to curb your debt and get you on track to financial stability and better quality of life.
1) Get a free debt consultation.
There are tons of services such as Credit.com’s free debt consultation service that match you up with a licensed and certified financial professional. We always recommend that you consult with an industry professional because they will know all options available to help you get control of your debt.
2) Budget, budget, budget!
While most of us have a negative knee-jerk reaction to the word “budget”, the truth is it is ESSENTIAL to managing and reducing debt. Even
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Tags: Debt, Student Debt