If you are one of many Americans having debt problems, then you know that the situation is becoming worse and worse as the economic crisis continues. As the available cash in American households begin to dwindle, the more debts a household has, the more problematic the situation gets. If you have a similar problem, you might want to consider consolidating your loans.
Credit Cards and Debt
Credit cards have become the de facto standard for a large number of financial transactions in the...
The economic downturn has gotten the entire country in an uproar. Prices of basic goods are soaring, employment is going down, and interest rates are jumping from as low as 1.7% to as high as 25%. One thing that the economic collapse has proven is how important good credit rating is.
Banks have upped their interest rates to astronomical heights since the economic crisis began. They have also drastically lowered the credit limits for most credit holders. In most cases, those who have bad...
It seems that the Senate's Credit CARD (Credit Card Accountability, Responsibility and Disclosure) Act may be on the way to President Obama's desk no later than the end of the week. Recently, Senator Chris Dodd, Senate Banking Committee Chairman, announced that a compromise has been made.
The Credit CARD Act of the Senate is part of the government's response to the growing public outcry over increasing credit card interest rates and other fees. Late last April, the House of Representatives...
As the credit card crisis continues, the White House is once again flexing its influence to confront the issue affecting a large majority of American citizens. This time, President Barack Obama plans to hold a town hall meeting during a planned stop in New Mexico on May 14. The President plans to open discussions on the credit card crisis during the meeting and to push for the passage of the credit card reform bill in Congress.
Robert Gibbs, press secretary of the White House, expressed to...
Credit card debt is a fact of life. That needs to change as soon as possible, especially if you want to survive the economic crisis. To do just that, read on.
Don't Spend What You Don't Have
Credit cards are very convenient, no argument. With credit cards, you don't have to carry a wad of cash every time you go out, you only use a small, thin card to pay for your purchases and you get to shop even if you don't actually have the money to pay for it. That last one is the problem.
Credit...
In a meeting held in the Roosevelt Room of the White House with President Obama and credit card executives on April 23rd, 2009, the chief economics adviser, Lawrence Summers was caught taking a nap at the table. Of course, the photographers had a good time with this, snapping pictures left and right of the man has he nodded off, holding his head on his hand and eventually sliding right off his hand before waking up.
Reporters all over the internet have also had a good time with the...
Could you survive a day without Internet access? On Thursday, April 9th, vandalism of fiber optic cables in Santa Cruz, California cut out Internet and cell phone service for most residents and business owners. ATMs didn't work, some banks were forced to close their doors while others allowed one customer in at a time and attempted to assist them without the use of their computer systems, and most shops couldn't process credit or debit card payments.
Some shops would jot down customer...