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Posts tagged "Credit Card Debt"

Wage garnishment may be issued to collect unpaid credit card debt

If any residents in Florida or anywhere around the nation are having difficulty making ends meet, the last thing they need is to have part of their job earnings withheld. However, wage garnishment is a fairly common practice by creditors. Wages are most often garnished to collect unpaid credit card debt, child support, taxes or student loans. Financial experts recommend several steps to those who may experience wage garnishment.

Credit card debt for the nation at record high

Consumer confidence in the economy appears to be growing in Florida and all around the country. While this appears to be a positive trend, there is one financial indicator that is causing some concern among experts. The country's credit card debt has recently reached a record high.

How higher credit card debt is likely this year

When the federal funds rate is increased, interest rates rise likewise for consumers in Florida and across the country. An increase like this would affect a variety of financial instruments, including credit cards. For those people who carry credit card debt, the situation could prove to be difficult.

Millennials less likely to have credit card debt

Though there are varying age ranges, millennials are typically defined as those individuals in Florida and anywhere around the country who were born from roughly 1980 to 2000. Trend watchers often cite how members of this demographic are having a profound effect on many businesses. People in this age group are not as likely to read hard copies of newspapers or magazine or shop in actual stores. Also, millennials are not as likely to incur credit card debt as some members of other generations.

Consumers willing to take on credit card debt for certain items

Many Florida residents and others around the nation have different mindsets when it comes to paying for big ticket items. While some consumers would never consider going into debt to pay for certain things, others are willing to incur some credit card debt to cover the expenses. A consumer finance website lists the various expenses for which some people will use their credit cards.

Which cities in the country have the most credit card debt?

Many Florida residents and others throughout the nation are struggling with all types of debt. Trying to make ends meet is often a challenge in a difficult economy. Credit card debt is frequently an issue for consumers, with the total for the country topping $1 trillion in 2017. While credit card problems can occur anywhere, a recent study was conducted by an online financial website that revealed which cities had the highest levels of credit card debt.

Make a plan to reduce credit card debt

The Federal Reserve recently released statistics that reflect an increase in confidence regarding the economy. That is good news for Florida residents and others around the country. With greater confidence, many consumers are more willing to spend money. However, this may create problems for some if credit cards are used to make purchases. If balances are not paid in full, credit card debt can quickly become a burden.

Wage garnishment issues remain after issue with credit card debt

Many Florida residents and others throughout the country have difficulties paying their credit card balances each month. Unfortunately, some cardholders find themselves in situations where they are unable to make their payments at all. A collection agency may get involved, and a consumer may face wage garnishment in efforts to satisfy the payments. A woman in another state is striving to get garnishment stopped now that a debt she owed has been paid in full.

Good strategy for getting credit card debt under control

Building a good credit history is the goal of many Florida residents and other consumers around the country. Most believe that an effective way to achieve good credit is to not incur any credit card debt by paying balances in full each month. Some people may go so far as to pay for any purchases immediately after they are made, thereby never even having a balance. This practice, however, may not result in an improvement to one's credit score, according to financial experts.

Ways to reduce credit card debt

Many Florida residents and those elsewhere around the country take time to assess their finances at the beginning of a new year. Consumers may have overspent during the holidays and are now taking stock of their situations. According to a personal finance website, many people in the nation are dealing with the burden of credit card debt.

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