Category Archives: Credit Card Debt
Crushing Credit Card Debt Causing More Workers to Postpone Retirement
Traditionally, the stereotype of a consumer with too much credit card debt has involved a young person – perhaps a recent college graduate with student loans or a young couple with a mortgage. But new data suggests that older Americans are struggling just as much – and sometimes more – than their children and grandchildren…. Read More »
Large Debts and Bad Credit Preventing More Americans from Buying Homes
Home prices are low, mortgage rates have hit rock bottom – and yet owning a home is more out of reach than ever for a growing number of Americans. Why? Chalk it up to all that debt we carry. Last year, the average credit card debt for a U.S. household was $7,194. However, if you… Read More »
Credit Card Debt Making Retirement Savings Impossible for Growing Number of Americans
Americans are scrambling to find money to pay the bills – and for some, that now means dipping into retirement savings. According to a new study by HelloWallet, one in four consumers have raided a 401k to help cover a mortgage or credit card payment. But while cashing in that IRA early may seem like… Read More »
For Young Americans Trapped Under Crushing Credit Card Debt, Bankruptcy Can Be Saving Grace
Youth isn’t always what it’s cracked up to be, at least not these days. According to a recent study, U.S. consumers in their 20s and 30s have more credit card debt than any age group. Not only that, but they’re also slower to pay off debt and more likely to ultimately die in debt when… Read More »
Homeowners Rushing to Refinance Mortgages Often Overlook Drawbacks
With mortgage rates hovering at record lows, many homeowners are scrambling to lock in savings by refinancing – in some cases, multiple times. According to new data, nearly 2.2 million homeowners have refinanced a mortgage at least twice since 2009. Many of these borrowers are being lured in by lenders offering to waive some or… Read More »