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Credit Card Debt Archives

Debt consolidation can eliminate credit card debt in California

The beginning of the year is possibly the time when many consumers try to get rid of or lower their debt. Debt consolidation and debt management are ways that California consumers can pay off credit card debt. Which option is more beneficial and what effect does it have on a person's credit rating?

Extra cash may be used to pay off California credit card debt

In some situations, it can be generally easy to get caught up with low introductory rates on credit cards. However, after the introductory period is over, many California consumers are stuck with high interest rates that lead to credit card debt. Consumers who have a considerable amount of their income left over can benefit from using the extra cash to pay down their credit cards.

California credit card debt: Reduce expenses and increase income?

It's reasonable that consumers carry credit cards in case of an emergency. However, those cards can come with a hefty price tag that may become hard to pay off. There are ways that California consumers can use their existing income to pay off their credit card debt.

California consumers can avoid holiday credit card debt

The holidays are right around the corner, and that means consumers are likely to increase their spending habits. Many California consumers are usually on the hunt for the perfect gift for their family members and close friends. It's important to exercise smart spending habits during the holidays in order to avoid high credit card debt.

California consumers sued for unpaid credit card debt

Several banks have been selling loans to debt buyers. The debt buyers are people who purchase delinquent credit card debt from the bank. Some of the information received by the buyers may be outdated or inaccurate causing many customers to get sued for debt they do not owe. One of the banks has been sued by the California attorney general for abusive debt collection practices.

How to stop increasing credit card debt

For many California consumers, high levels of credit card debt have led to a debilitating financial scenario. Once the balances have grown to a certain level, it becomes incredibly difficult to find a way to pay them down to more manageable levels. Factor in rising interest rates and a wide range of fees and penalties, and credit card debt can quickly ruin one's financial outlook.

California Attorney General probes credit card debt collectors

Debt collectors will do just about anything in order to collect the debts which they believe are owed to them. Many times this even includes fraudulent and deceptive practices, many of which are against the law. This has led many state regulators to ramp up their investigations of debt collectors in order to root out these illegal practices. The Attorney General of California is currently undergoing a large investigation partially focusing on companies that purchase delinquent credit card debt as well as deceptive practices by the lenders themselves.

People over 50 are facing more credit card debt

Many people feel guilty and depressed as a result of carrying debt on their credit cards. Studies have shown that people feel significantly more depressed when their credit card debt increases by ten percent or more. However, most people in California and other states do not show clinical depression, but rather experience an increase in household stress, which can manifest in an inability to eat and sleep properly.

Credit card debt can cause California health risk

Virtually everyone has had a high credit card balance at one point in their lives. Many California residents know the sickening feeling of carrying high levels of debt from month to month, and the stress and worry that comes along with a worsening debt problem. One recent study suggests that credit card debt can have an even more sobering effect on one's health, and may inspire some to seek immediate debt relief.

Student loans, credit card debt leads to bankruptcy for some

The cost of obtaining a college education is sizable, and seems to only increase every year. Some analysts believe that the reason behind the high cost of higher education may be the 'easy money' mindset brought on by the availability of student loans. For many in California, student loan debt, combined with credit card debt, is creating an unsustainable financial scenario which could lead to the need to seek bankruptcy protection in years to come.

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