Debt Archives

Understanding the Effects of Missed Payments

Posted on September 7, 2018 by | Meghan Alard (7-minute read)

If you have credit cards, the impact of missed payments can be massive. Here’s what you can expect for budget and credit if you miss a credit card payment.

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Reducing the High Cost of Credit Card Debt

Posted on August 6, 2018 by | Meghan Alard (6-minute read)

Consumers pay over $100 billion every year on credit card interest charges and fees. We explain how to minimize the high cost of credit card debt.

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Which State Has the Highest Student Loan Debt?

Posted on August 3, 2018 by | Meghan Alard (4-minute read)

A new study from WalletHub explores which state has the highest student loan debt and which borrowers have the biggest student debt burden.

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Dealing with Debt Caused by Domestic and Economic Abuse

Posted on July 23, 2018 by | Meghan Alard (7-minute read)

Domestic abuse survivors often amass debt getting out of a relationship or from economic abuse. Consolidated Credit helps victims pay off their debt.

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Do You Know Your Annual Interest Rates?

Posted on July 6, 2018 by | Meghan Alard (5-minute read)

Half of credit card users that carry at least one credit card balance don’t know their annual interest rates, which means they’re probably overpaying.

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Are Store Credit Cards Bad?

Posted on June 18, 2018 by | April Lewis-Parks (4-minute read)

A new trend in increased credit card delinquencies on store credit cards reveals two good reasons why you might want to think twice before opening a in-store credit card. Consolidated Credit explains how to decide if store credit cards are a bad idea for your finances.

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74% of Americans are Getting Married with Debt

Posted on June 15, 2018 by | Meghan Alard (3-minute read)

Three out of four couples will use credit to finance their wedding, with an average price tag of $33,391. We explore why getting married with debt is a fast way to ruin your relationship and offer tips on how to enjoy a debt-free wedding.

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One More Good Reason You Don’t Need Credit

Posted on June 4, 2018 by | Meghan Alard (5-minute read)

For more than two decades, attractive rewards programs have been a big reason that many consumers turn to credit cards at checkout. But as banks scale back credit card rewards and increase debit card rewards, this trend may be changing.

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When is the Right Time to Retire Old Credit Cards?

Posted on April 24, 2018 by | Meghan Alard (3-minute read)

20 million people haven’t changed their primary credit card in 10 years, but are old credit cards effective or is it time for an update? Learn what to do with old accounts to avoid credit damage.

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Are Long Term Auto Loans the Best Commitment?

Posted on April 20, 2018 by | Meghan Alard (3-minute read)

A new report finds long term auto loans are getting longer and longer, leading to more time in debt and higher costs due to added interest charges. Do borrowers really benefit from that commitment?

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What States Can Revoke Professional Licenses for Defaulted Student Loans?

Posted on April 16, 2018 by | Meghan Alard (4-minute read)

A Texas teacher lost his dream job as a teacher after he defaulted, and Texas isn’t the only state that does this. We detail what states can revoke professional licenses for defaulted student loans.

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Can You Afford the Cost of Debt?

Posted on April 6, 2018 by | Meghan Alard (4-minute read)

Another interest rate hike by the Federal Reserve means that the cost of debt for consumers just got higher again. WalletHub has revised their map of cities with the most and least sustainable credit card balances. Can you still afford to pay off your debt in a cost-effective way or do you need debt relief?

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Don’t Loan Credit Cards!

Posted on March 30, 2018 by | Meghan Alard (3-minute read)

If you thought lending money to family was a bad idea, consider that 36 million Americans admit they’ve run into trouble when they decided to loan credit cards to friends and family. Learn why it’s a bad idea and what you can do instead to help someone out.

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Dealing with Medical Debt Collections and Accident Liens

Posted on March 26, 2018 by | Meghan Alard (3-minute read)

If you took a trip to the emergency room after an accident, you might be surprised to learn you have a lien that gives the hospital a right to part of any claim you receive. It’s one way hospitals ensure they collect on your medical bills. We explain how to get out of medical debt collections.

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12% of Americans Had a Credit Card Declined Last Year

Posted on March 16, 2018 by | April Lewis-Parks (4-minute read)

One in ten Americans had a credit card declined last year, but embarrassment is really the least of your worries if it happens to you. Learn why cardholders experienced a declined credit card last year and what you can do to avoid it.

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Are Student Loan Debt Problems Holding You Back?

Posted on March 5, 2018 by | Meghan Alard (5-minute read)

The new Federal Reserve Chairman Jerome Powell admits that student loan debt problems hold Americans back and could slow down economic growth. Learn how outstanding student loans can hurt your credit and what solutions you can use to fix your financial situation.

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Past Due Debt Payments at an All-Time High

Posted on March 2, 2018 by | Meghan Alard (3-minute read)

A new report finds that American consumers are breaking records with past due debt payments, while businesses are managing to keep up. If the economy is strong, then why are some many families facing collection accounts and credit damage?

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Which Cities are Home to the Highest Credit Card Debt?

Posted on February 23, 2018 by | April Lewis-Parks (3-minute read)

A study of 25 metropolitan areas in the U.S.Cities shows thoese with the highest credit card debt take longer to pay it off. Is your city on the list?

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Big Changes Coming to Credit Cards Offering 0 Interest on Balance Transfers

Posted on February 19, 2018 by | April Lewis-Parks (4-minute read)

As consumer debt levels continue to break records, driven by credit card debt, many households may turn to balance transfer credit cards to consolidate. However, new changes in credit cards offering 0 interest on balance transfers could make this type of consolidation less beneficial.

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What Causes America’s High Credit Card Balances?

Posted on February 16, 2018 by | April Lewis-Parks (3-minute read)

Americans have record high credit card balances that are often caused by covering daily expenses to make ends meet. We look at reasons for debt and offer helpful tips on how to achieve a balanced budget so you can avoid credit card debt.

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Good Debt vs Bad Debt

Posted on February 2, 2018 by | Meghan Alard (4-minute read)

A new study finds that 2 out of 3 consumers believe they will never be debt free, but that’s not necessarily a bad thing when you consider the difference between good debt vs bad debt. We explain the difference so you can get the right financing for your needs.

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Say Goodbye to Credit Card Signature Requirements

Posted on January 29, 2018 by | April Lewis-Parks (3-minute read)

The last major credit issuer just announced they will phase out signature credit card signature requirements on most transactions this year. As EMV chip technology improves, you should see less request for your John Hancock, and hopefully less fraud.

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Credit Card Use Continues to Climb

Posted on January 19, 2018 by | April Lewis-Parks (3-minute read)

Consumer credit card use continues to climb, now beating pre-recession levels of spending. Credit card debt increased by 13% in November alone, leading to an all-time high of $1.023 trillion. Here’s what you can do to pay off your debt.

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How to Use Cash Back Credit Cards

Posted on January 15, 2018 by | April Lewis-Parks (4-minute read)

Experts predict that cash back credit cards may be king in 2018 as more credit card issuers roll out even sweeter reward programs. But if you want to get the most out of cash back incentive programs, you need the right strategy.

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