Credit Card Debt
Concern growing over minor-age credit card debt.(Banking & Finance): An article from: Mississippi Business Journal [H] [T] [M]
Wally Northway (Digital) Thomson Gale 2007-01-22
Release date: 2007-02-06
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tell me what specific items you have charged on your credit card that put you in over your head, and at what point you realized you were taking from peter to pay paul, and how you solved that situation, if you did (yet).
yes, this website is the best for helping a person get out of debt: http://www.daveramsey.com/
It's the small things that really get you after a while. Like most people, I have a modest income. I would be short on cash after paying the essential bills such as house payment, car payment utilities, etc. Then something unexpected comes up, like a hugely expensive car repair or something in the house breaks down, so I would use the card for that. All the bills are paid, but my family hasn't been fed yet, so I would go to the grocery store and get what we needed. Have to have gas in the car, so there goes another $40. Then I would get paid, only to find I had another big bill due that would wipe out most of my check. So there I am, broke again, and only the credit card to live on until next payday. Repeat this process monthly for a couple of years and you find yourself deep in hole that you can't get out of. I'm not sure what's going to happen next, but I have come to realize that you don't have to be a bad person or live an extravagant lifestyle to have bad credit. I'm beginning to work things out, one by one, with each of my creditors. It will be a slow process, but I eventually plan to settle with my creditors without declaring bankruptcy. If I ever get these paid off, I'm not getting any more credit cards. The mess I am in now is exactly what they are designed to do.
I don't know if you've heard the statistics and all the dire numbers, but there are a lot of people in this country who do not take care ...
just facts and statistics about the credit card usage.
here's some free articles to get you going:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
ok, i turned out to be the 18 year old statistic getting a few credit cards and not having the correct judgement or knowledge to use them. in total of about 3-4 cards, i have just over 10,000 in debt.
im 21 now and know better, but not how resolve my situation. there are soooooooooo many debt relief commercials and such and i dont know if they do any good, or which ones to choose. its quite overwhelming.
and to top it all off. i recently recieved a summons for one of the credit cards, they even sent one to my employer. i feel like im going to drown.
id love to consolidate my debt and set up a plan. but to be honest im not even sure where all my debt is. how can i find out all the pple i owe? some have stopped sending mail thinking i was a loss. some help please. im desperate. im to the point i just might file bankruptcy.
oh do i ahve to go to court? can i just settle outside? or what? im nervous
The best thing to do is to go onto experian website and order your credit report this will give you an idea of who you owe to and what debt you actually owe that is the best thing to do
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Banks appear (to me anyways) to be ravenous about signing up new credit card holders. I'm familiar with the statistic that states each American has an average credit card debt of $9000. But I am wondering how much average or median revenue it's worth to a bank to signup a new credit card account? Any verified info that someone can point to would be much appreciated!
- Astro Boy
Thousands.
In terms of signing up new accounts it's the Law of Numbers.
But those new accounts will also go through background checks (which is why your credit score may drop SLIGHTLY from opening new credit card accounts). This is part of Risk Management on their part.
i'm doing a research paper on credit card debt and college students. i'm gonna have an opening, 6 body paregraphs, and a closing. i need more topics for my body paregraphs. i already have the statistics in one para., how students fall into debt., how they can avoid it, and how they can get out of it (not necessarily in that order). i need two more paragraph topics. please help. this thing is due on wed. thanks!!!
I don't know about what most universities allow now, but when I was in college, credit card companies offered free t-shirts, food, and other stuff for signing up for a credit card. Once you have that credit card, it's easy to use since everything is an "emergency". The university I attended no longer allows credit card companies on campus.
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College Kids Credit Card Statistics | Finance Review
It is no secret that college students generally have major credit card issues. This is usually a result of the enticing offers that many college students may encounter during their college years. While it is understandable why many college students turn to credit cards, there is obviously a trend of mismanaging their newly found line of credit. The problem begins when the student loses track of why he or she originally obtained a credit card.
Some students may use financial aid to help make tuition payments. However, there are times when this amount may not be approved and the credit card becomes the only option. Hence the student uses the card to make his or tuition payment. The problem, however, arises when the student decides to pay more than he or she can really afford. Some students go on to use credit cards for miscellaneous expenses, to pay for rent on apartments and buy text books. Soon the vicious cycle of uncontrolled spending takes hold of the student, sometimes forcing him or her to take out more credit cards to supplement a comfortable lifestyle. This uncontrolled spending has backfired many times as it is said that 1 in 5 filings for bankruptcy is attributed to a college student.
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