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credit card debt: An increase in credit card debt for seniors - 09/27/11 10:18 AM
When we think of credit card debt, we often think the student who is swimming in credit card debt after years of paying for meals, books, and other college expenses that loans failed to cover or the middle class family who carries credit card debt while struggling to keep up with bills and other demands. Often overlooked is the demographic that actually accounts for more than 20 percent of all bankruptcy filings – the elderly. Alarmingly, the number of people 55 and over who are either drowning in credit card debt, filing bankruptcy, or suffering from poor credit is growing.
Eileen … (2 comments)

credit card debt: Credit Card Debt is DOWN!!! - 12/17/10 10:38 AM
The federal debt may be increasing, but revolving debt, largely fueled by credit cards, has been slowly inching downward over the past year as credit-weary consumers continue to tighten their belts to survive in the still sluggish post-recession economy. The Federal Reserve reports that in the first quarter of 2009, U.S. credit card debt fell to $945.9 billion, a $5.4 billion drop over the previous quarter, prompting some analysts to say that American consumers are weaning themselves off easy credit and learning to live within their means.
Credit repair experts (read me) say it's too soon to tell whether the decrease in credit … (2 comments)

 
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