Recent Posts in Credit Card Debt Category

  • Arizona House bill may support credit debt collectors

    While other states are enacting legislation to protect their residents from illegitimate debt collecting practices, Arizona may be on the way to passing a law that would make it easier for debt collectors to collect questionable credit card debt. When Arizona residents do not pay their credit card bills, a secondary debt collector can purchase the debt from credit card companies. These secondary ...
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  • Manage debt rather than discharging it

    A lot has been said lately about college loans-the high cost of tuition combined with even higher interest rates often leads many fresh college graduates into financial distress and they scramble to get higher paying jobs that they may not be interested in just to pay off their loans. Unlike a majority of other forms of debt, college loans are not usually discharged through bankruptcy, whether it ...
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  • Arizona bankruptcies keep declining, but is that a good thing?

    Economists have different ways of looking at rates of personal bankruptcy. Obviously, people are more likely to have financial problems when the job market is bad and when they cannot afford to pay toward their home loans or credit card debt. All this means that bankruptcy rates may rise when the overall economy is weak. At the same time, a rise in bankruptcy rates can also be a sign of the health ...
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  • Tips for handling credit card debt during the holidays

    With the holiday season upon us, Arizona residents struggling to make ends meet may be worried about holiday shopping. Financial constraints may put a damper on holiday plans, and Arizona residents may turn to their credit cards to help ease the immediate financial burden. However, it is easy to overspend when using the credit card, and next year may bring with it high credit card bills that ...
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  • Bankruptcy an option for those with medical credit card debt

    Once someone is caught in a web of debt here in Arizona, it may seem impossible for that person to escape. Endless creditor harassment and unrelenting interest rates trap them into debt cycles from which there seems no relief. Such has been the case with many recent developments involving medical credit cards. The worlds of health care and finance combined forces and began pushing lines of credit ...
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  • Youngsters have more credit card debt, lower payments

    Arizona readers may see many stories about the economy turning around and an improving job market. The truth of the matter, however, may be that the economy is still recovering and job security is still not guaranteed. Lower wages still strain many a pocket in these difficult times. As such, it is still important for people across the country to remain disciplined about spending. If debt becomes ...
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  • Bankruptcy filings fall, savings increase across country

    Life-changing events are one of the main reasons that people file for personal bankruptcy. When people are suffering from an unexpected event, like job loss, major illness or even divorce, bankruptcy may prevent them from paying off a debt they have accumulated. Arizona readers of this blog may be aware that consumers often use their credit card to repay certain debts, leading to burdensome credit ...
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  • Credit card debt collection flawed, may affect bankruptcy

    Arizona residents may remember the settlement money banks paid out for errors in the foreclosure process. Unfortunately, the same inaccuracy and flawed documentation seems to be plaguing the credit card debt collection process. With more people falling behind on their credit card payments, borrowers are behind by $18.7 million--roughly three percent of total credit card debt. Lenders are now ...
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  • Student credit card use is major decision for Arizona families

    To obtain a credit card, The Credit Card Act states that a user under the age of 21 should either submit proof of income to repay credit card debt or have a qualified co-signor. As the law makes it harder for young adults to obtain credit cards, Arizona parents must decide whether their college-bound children should leave the house armed with credit cards. The decision is significant, as ...
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  • Chapter 13 bankruptcy is one option to deal with credit card debt

    Arizona residents who are about to embark on their next shopping trip with credit card in hand may not be aware of the Christian Science Monitor report that the average household in the country carries credit card debt of about $14,500. Some households owe even more in credit card debt than the reported figure, forced to use credit cards for necessary expenses, and they struggle to make their ...
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  • Mesa residents can rebuild financial life after bankruptcy

    Arizona residents struggling with debt from increasing bills may be hesitant to face the stigma associated with filing for either Chapter 7 or Chapter 13 bankruptcy. Such people commonly fear future rejections for financial services such as credit cards or checking accounts. However, Arizona residents may not be aware that more than 1.4 million Americans filed for bankruptcy in 2011, amid ...
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  • Arizona homeowners focus on improving lines of credit

    In Arizona and across the nation, residents continue to face difficult decisions when it comes to their personal finances. Whether defaulting on lines of credit or filing for bankruptcy, priorities have changed radically in the past few years. According to a research director at credit reporting agency TransUnion, mortgage defaults played an important factor in this shift. In states where home ...
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