Tag Archives: credit crisis

The Credit Crunch Explained in Simple Terms

How consumers see the credit crunch: “I’m screwed.” How creditors and banks see the credit crunch: “We’re screwed.”

A Simple Guide to Understanding How the Bankers Screwed Up and Got Us in This Credit Crisis

My bankruptcy attorney friend sent me the link this the video below and said it was a great video to help explain the credit crisis. She was right. It is so nice to see clearly the relationship between the extremely poor decisions smart bankers made that have now trickled down to a foreclosed home near [...]

Medical Debt Sending Many Over Financial Brink

Since 1999, Keith and Deborah Krinsky of Magalia, Calif., have seen their health insurance deductible soar from $1,000 to $10,000. A combination of Keith’s chronic asthma and potential heart problems, Deborah’s connective tissue disorder and fallen arches, and their kids’ various scrapes and stumbles led them to amass a pile of credit card debt and [...]

Humor: US Solves Credit Crisis, Credit Cards

Humor: US Solves Credit Crisis, Credit Cards Gather.com, MA - 2 hours ago And with the average American owing more than $8000 in credit card debt , paying everything back is going to take a while. Fortunately, there are companies …

Easy Come, Easy Go: Prosper.com Hits Regulatory Hurdle

OK. Remember earlier this week when I posted a story about alternative lending? You remember. It was the upbeat story about peer-to-peer (p2p) lending — and how this credit crisis is good for business (link here). That story was written by Economix, a blog at the New York Times. The blog pointed out that more traditional-looking borrowers were turning to p2p for funding needs during the credit