The Federal Reserve Bank of Philadelphia published a paper by Stephanie Wilshusen which made some very enlightened observations about why consumers struggle with getting out of debt. In the paper, “Meeting the Demand for Debt Relief” it describes the options available to borrowers who seek assistance in managing their debts and discusses the information and incentive problems associated with these ... Read More »
Linda “Dear Steve, Stationed in Okinawa Japan (Kadena AB). Currently $40,000 to $45,000 in debt; too far behind on payments to get caught up; have enough money for the monthly payment. While being here in Okinawa, is there a way for us to get help with Consumer Credit or a debt management program? I know that bankruptcy is not an ... Read More »
Claims of debt fraud soaring Palm Beach Post, United States - 2 hours ago As for her credit card debt , the company "made a couple of calls" and came back to her with a proposal to make a reduced, lump-sum payment of $5000 - an ... Read More »
Bailout plan to perpetuate our house of cards Times Herald-Record, NY - 56 minutes ago By Christian Livermore The average client who seeks help at the Consumer Credit Counseling Service of Central New York has $47000 in credit card debt and ... Read More »
In this economy, layaway is in vogue Tampabay.com, FL - 2 hours ago Consumer credit is getting tighter at a time when rising joblessness, foreclosures and prices make it harder to pay off credit card debt . ... Read More »
Living (too) large? Lancaster Newspapers, PA - 2 hours ago The average American household carries a credit card debt of more than $8000. According to The New York Times, as household debt has mounted, incomes have ... Read More »
Economic worries and concerns impact anyone that is paying attention and for those of us that have a bit of awareness and understanding about how the consumer credit and debt world works, it makes it even more frightening when looking into the crystal ball. I avoid debt, but I have some. But it is not the debt that scares me ... Read More »
“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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Get Out of Debt Guy – Steve Rhode Learn how to really get out of debt