Source: nature.com
Video: Dateline NBC ? Credit Card Debt Trap Part 1 of 10
Credit card debt transformed into art lesson
Leppanen, who lives in Belfast, Maine, also was an avid credit card user. He frequently used zero percent financing offers and other perks to pay for things and make investments. He says he looked on his credit card habit as research because he used his experience to report back to his own company on ways to get people to bump up their balances.
Source: nbcnews.com
Does Facebook Usage Lead To Obesity And Credit Card Debt?
The effect of social network use on individuals? abilities to exhibit self-control is concerning given the increased time people are spending using social networks, in part due to the worldwide proliferation of access to social networks anywhere anytime (i.e., via mobile smartphones, smart TVs, tablet computers, etc.). Even a small five-minute ?dose? of social network use in our studies was enough to significantly lower self-control in subsequent choices and tasks. Heavy users likely expose themselves to multiple doses of this effect a day. Given that self-control is important for maintaining social order and personal well-being, this subtle effect could have widespread impact. This is particularly true for adolescents and young adults who are the heaviest users of social networks and have grown up using social networks as a normal part of their daily lives. Because of these factors, our findings have important policy implications. It would be worthwhile for researchers and policymakers to further explore social network use in order to better understand which consumers may be particularly vulnerable to suffering negative psychological or social consequences.
Source: allfacebook.com
Parents? Money Fights Put Kids In Debt
As it turns out, women were more likely to carry multiple credit cards, as were students who admitted in the survey that their ?parents usually argued about finances.? In fact,?the latter group was three times more likely to be carrying debt totaling over $500 than students who claimed their parents never quarrelled about money, even if they were from well-to-do homes.
Source: businessinsider.com
Target Sells Credit Card Debt To TD Bank
?The portfolio will be sold for an amount equal to the gross value of the outstanding receivables at the time of closing, Minneapolis-based Target said today in a statement. TD also agreed to a seven-year deal to underwrite, fund and own the retailer?s future credit card and Visa receivables in the U.S., the companies said.?
Source: businessinsider.com
How to Start Reducing your Credit Card Debt
1. Make a budget: If you haven?t already made a budget, this is a great first step towards paying down your credit card debt. Until you?ve created a budget, it?s hard to decide where you can cut back on spending. Once you start to track your spending, you?ll know exactly where your money goes each month, and you?ll start to see areas you can trim. Once you start to lower some of your expenses, the money you save can be applied to your credit cards.
Source: credit.org
Get Out of Debt Options Credit Card Consolidation Loans Debt Relief
The housing market peaked in early 2006. Prices were up, the economy looked good, Americans were buying, and homeowners saw their equity go through the roof. Then, in late 2006 through 2007, the market started a moderate and steady decline. People started to feel the pressure of their loose spending as their credit card interest rates increased, and monthly payments became harder to manage. Banks encouraged homeowners to get a credit card debt consolidation loan using the equity in their homes.? They thought, like most of us think; one payment, lower interest, reasonable term, AND it?s turning unsecured debt into secured debt by tying it to their house. What a low risk investment, right? Who would default on their home equity loan (HELOC) and risk losing their house? Banks started approving these HELOC?s left and right, even to the point that sub-prime borrowers were being approved.? As long as you had equity in your home, it?s almost as if the banks forgot how to say ?no?.
Source: nationalnewstoday.com
Study links high Facebook use with higher credit card debt
The study found that having strong social ties on Facebook tended to boost peoples self-esteem. In turn this resulted in lower self-control, which then transferred into higher credit card debt. Stephen admitted the study did not prove Facebook caused higher debt, conceding it could be the other way round and people with higher debt may just happen to use Facebook more than those with lower levels of debt.
Source: digitaljournal.com
Where Does Your Spouse?s Credit Card Debt Go When They Die?
By far, the saddest cases in my years as a financial advisor were assisting widows after their spouses? deaths. Not only does a surviving spouse have a great deal to manage emotionally, but the financial burden can feel equally overwhelming. Later in this article we?ll take a look at who?s responsible for a late spouse?s credit card debt, but let?s first address three important financial actions to take soon after the death of a spouse. 1. Alert credit agencies: Unfortunately, these days, the open, abandoned credit file of a deceased person is like a hand-engraved invitation for identity theft. So, the first step you should take in dealing with the deceased?s finances is to alert the three major credit-reporting agencies ? Experian, Equifax, and TransUnion ? of the death. Experts at LowCards.com also advise you to request that a ?deceased notice? and the explicit statement ?Do not issue credit? be added to the decedent?s file. To further protect your deceased spouse?s identity, LowCards.com recommends you ask to be alerted if any new credit applications are made in your spouse?s name. Make the requests in writing and include a certified copy of the death certificate. Keep copies of the letters for your records and send via certified mail. 2. Request a credit report: Get a copy of your spouse?s credit report mailed to you. That way, you?ll have a complete and up-to-date record of your spouse?s open credit cards. 3. Contact creditors: Call the decedent?s creditors to notify them of the death. They too will need copies of the death certificate mailed to them. And the Bills Go To ? Whom? Who is responsible for the outstanding credit card debt will depend on the type of account and where the deceased lived. Let?s take a look at the specifics. Joint account: If the account had both spouses? names on it, then the surviving spouse is responsible for any outstanding balance. In this case, the debts of the deceased are considered those of the surviving spouse. The surviving spouse can either close the account or have it titled in his or her name only.
Source: dailyfinance.com
Getting out of debt ? Can credit card consolidation be of any help?
If you are too deep into debt, can credit card consolidation help you to get out of it? The answer to this is yes, but, you will also be required to make sure that you are going to change you have been spending money, and using your credit cards. Credit cards make shopping easy, as you need not carry cash, and even if you are having cash crunch, credit cards help you buy things of your choice, as per your needs. However, this again leads you into debt, as you may not be able to pay down the money charged through the credit card. You can learn more here about credit card consolidation and how exactly it will help you.
Source: ccardzone.com
This could be carried out protect decreased
You should also obtain online debt consolidation using a method call cccs. In the event your city in the uk includes a cccs company, you could do this particular personally. If not, there are a number of cccs other possibilities available on the web. No matter which usually of the you have chosen, important things perform on the same. A healthcare professional is going to check financial obligations, possessions plus charges in addition to show you how to create a spending budget. Both of you will establish a new repayment plan. One professional will present the seductive plan to help creditors. As soon as they all of say yes to, the money guidance organisation needs accountability meant for paying for all of them. You may distribute the company a great inspection on a monthly basis unless you want to full your current plan. That may take around few years.
Source: istanbulsos.org
Emily?s list: Scary debt edition
My husband finishes law school in May. We?ve already been paying the debt down faster than is required, some months even going far over the minimum payment. But come May, it?s time for him to find a job (fingers crossed) and for us to start the real repayment attack. We?ll need to get focused, cut expenses and throw every extra penny at the beast. Some people string it along and just pay the minimum for decades, but our plan is to hunker down and kill it as soon as possible. Then we can focus more on saving and living.
Source: creditcards.com
Emergency Credit Card Debt Help
Emergency Steps to Follow when Your Credit Card Debt is Getting out of Control Anyone cannot help but just feel helpless when there is an unmanageable credit card debt. It is usually too difficult to emerge out from the situation especially because there can be an abrupt financial factor and credit cards keep on imposing hefty interest rates and fees. Failure to pay at least the minimum required monthly payment can make matters worse due to addition of penalties and more fees. What should you do if you suddenly realise that your credit card debt is getting out of your control? Here are some effective ideas that can be of help.
Source: finance-blog.eu
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Tags: Debt, Money, smart tvs, using social networks, worldwide proliferation
Source: http://debtconsolidationsanjoseco.com/rowing-parents-fuel-credit-card-debt-nature-jobs-blog/
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