Those who study consumer debt had been expressing optimism in recent years over young adults' seeming aversion to taking on credit card debt and consumer loan products. Millennials and those in the group following them (Generation Z) were doing better than their...
Month: May 2019
Why many Americans are 1 medical crisis away from bankruptcy
Most of us take good health for granted -- until a serious injury or illness strikes us or a family member. The resulting medical bills, possibly coupled with lost or reduced income, can devastate a family financially. It's widely assumed that people who are driven...
Why consolidation loans can leave people in greater debt
When people are deep in debt, trying to juggle payments to a multitude of credit card companies and lenders each month in addition to paying their basic living expenses, the idea of a "consolidation loan" can be very attractive. Why not take out yet one more loan...
Experts say customer credit quality is declining
The first quarter of this year brought some troubling news regarding consumer credit. The credit card industry saw an increase in the charge-off rate. That reflects the percentage of debt that companies don't expect to collect. While that rate (3.82%) is low by...
Finding legitimate debt relief assistance
Far too many New York residents have found themselves struggling financially in the last few years. If you are one of them, you have likely been looking for debt relief options that will improve your situation without having to file for bankruptcy. In your search, you...