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Pay off Credit Cards or Buy a House?
I have exactly enough money saved for a down payment on a house (I have already been pre-approved), my concern is whether I should pay off my credit card debt with the money or just move forward and buy the house. Either option would completely wipe out my savings, so I am concerned and need advice.How to Get Out of Debt, Stay Out of Debt & Live Prosperously
The book has been a life changer for me and my finances!!! It was written by Jerrold Mundis. When I read this book over a year ago I had $16,000 in total debt, a loan with an APR of 16.99% and a feeling like I was living in austerity.Reopening a credit card or not...
I've just paid off one of my credit cards that was in the Debt Mangement Program through a credit counseling service, which is something I'm proud of! It's nice to have accomplished that! The only issue is, I got a letter from that company offereing to reopen the credit card line since I paid everything off.Legislators Push Early Start For Credit Card Rules
The new Credit Card Reform Act is supposed to protect consumers against high fees, surprise hikes in interest rates and abusive billing practices. The law passed in May and is not set to take effect until February. But with the holiday shopping season just weeks away, some lawmakers on Capitol Hill are pushing to move up the start date.Misery math: Great Recession by the numbers
NEW YORK - A year ago this weekend, the Dow Jones industrial average had just finished a slow-motion crash. Over eight days, it fell 2,400 points, or 22 percent, and stood at 8,451. One year later, the Dow is at 9,865.Banks Brace for Credit Card Write-Offs
It used to be easy to guess how many Americans would have problems paying their credit card bills. Banks just looked at unemployment: Fewer jobs meant more trouble ahead. The unemployment rate has long mirrored banks' loss rates on card balances.And for those who still wonder how the crisis happened...
CONSUMER STATISTICS - Card ownership http://www.creditcards.com/credit-card-news/credit-card-industry-facts-personal-debt-statistics-1276.php 78 percent of American households -- about 91.1 million -- had one or more credit cards at the end of 2008. A year earlier, there were 90.4 million households with cards. (Source: Nilson Report, April 2009) In the fourth quarter of 2008, consumers over 60 had an average of 5.6 open bankcard and retail accounts.Does Credit Counseling work?
So you are in debt over your head and you can not afford to make the minimum monthly payments towards your credit cards, vehicle payments, regular bills, etc. So, an option would be to get help from Credit Counselors that tell you they will be able to help you out by: 1. Giving you the money (loan) if you are approved to pay off your debt then you have to pay them back monthly.Obama says US Long-Term Debt Load "Unsustainable"
Ummm....DUH!!!! Too bad he didn't realize that before he spent 1.3 trillion dollars the first month he was in office. ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ Obama Says U.S.How to Blow Your Credit Limit -- Without Spending
by Kelli B. Grant Thursday, March 12, 2009provided bySmartMoney.com If you haven't had the credit limit cut on your credit card recently, count yourself lucky. Risk-averse card issuers are getting slash happy.
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