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Tag Archives: consumer debt

Have Consumers Really Learned a Lesson About Debt?

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A recent publication out from the Federal Reserve appears to indicate consumers have learned to cut back on debt, at least for now. The reduction might be to a number of events and not just the sudden realization that too much debt is problematic. For example, people may be feeling less confident about the future and that’s driving their spending. ... Read More »

Good News and Bad News About U.S. Consumer Debt

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The census bureau has released a new report that chronicles household debt in the U.S. from 2000-2011. The good news is that fewer households are carrying some form of debt. In 2011 69 percent of households did compared to 74 percent in 2000. The bad news is that those that are carrying debt are carrying more. In 2011 dollars the ... Read More »

Should We Eliminate Consumer Debt For Everyone and Start the Economy Over

Randy steps forward with a solution to fix the desperate financial state everyone finds themselves in. The town gets behind him and everyone starts to live a life that no longer depends on any economy at all. Meanwhile an unlikely savior makes the ultimate sacrifice to solve everyones problems.

As crazy as this idea sounds, one thought floating around right now is that of forgiving large tracts of consumer and mortgage debt to swiftly deal with the debt problem in the country today so we can get consumption back on track. As long as consumers are buried in debt, and they are, with little growth there is no “little ... Read More »

What Do You Know About Real Solutions Consumer Counsel? – D

Real Solutions Consumer Counsel

“Dear Steve, I am looking for a real solution- and this shows up in the mail. D” Click image for larger view. Don’t miss our free Get Out of Debt – “How To” Guide Series on a number of topics, for loads of practical advice, tips, and help to beat back debt. – Click Here The Answer Dear D, Before ... Read More »

Complaints About Bill Collectors Rocket as Debt Collectors Get Tough

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A story by CNN today makes my article on How to Hide From Debt Collection, the Debt Collector and Creditors even more timely. After several years in which Americans were buying stuff on credit they couldn’t afford, a rapidly increasing number are complaining about getting harassed and abused by bill collectors. Nearly 71,000 people filed such complaints with the Federal ... Read More »

Double Standard For Debt Settlement. Not So Sleazy Now, Ask Hilary Clinton, John Glenn and the FEC.

Debt Settlement Companies?

Consumer debt is a world of double standards. On one hand you have advocates screaming about the evils of debt settlements or that groups that charge people for professional help to do debt settlements are ripping off consumers because settling debts is something that anyone can do. Don’t get me wrong, I’m not a huge fan of debt settlement plans ... Read More »

Government Help With Credit Card Debt

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A question I am getting asked more and more is about what programs the government offers to help you get out of debt or to eliminate credit card debt. These questions usually involve inquiries about government grants and loans that people hear whispers about that they believe will dispose of problem debt as well. Up until this point there has ... Read More »

New Indian Middle Class Gets Caught In the Whirlwind of Revolving Credit

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It's tough all over -- and not just in the United States. In India, where revolving credit is still relatively new, consumers are struggling under the weight of crushing consumer debt, according to a story in the Wall Street Journal this morning. But it's not just Indian consumers who are suffering. The banks that handed out this easy money are being hammered as well. Indeed, card companies that Read More »

Tithing, Saving and Getting Out Of Debt – The Personal Finance Bloggers Brain Trust

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This weeks question put to the personal finance bloggers brain trust at GetOutOfDebt.org was: When people are working with a credit counselor or working up their own budget they often hear or believe that they should not make religious contributions and should not put any money in savings while they are making debt repayments. Instead, some believe that every dollar ... Read More »

Lourdes Writes In “What Should I Do to Get Out of Debt?”

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“Dear Steve, I’m in debt really heavy from credit cards and other loans. What should I do to get out of debt. Lourdes” Dearest Lourdes, Wow, I really want to help you with some great advice and awesome guidance but gee-whiz a little more information would be really helpful. Maybe next time you write in you can share a bit ... Read More »

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