On average, according to Federal Reserve statistics combined with other government information, US Household credit card debt is at around $7,529. If we only look at households that are indebted this average outstanding debt climbs all the way up to $16,140. U.S. household consumer debt profile as of October 2015: Credit card debt average: $16,140 […]

If you’re creating a plan to get out of debt, you may want to consider consolidation of your loans. Why take out yet another loan? The answer, of course, depends on your personal financial situation. But for many people in debt, consolidation offers them an easier way to keep track of what they owe and […]

Credit cards have become a regular part of life for most people, so if you’re considering getting a credit card it’s important to understand why people apply for credit cards, how they use them and what you can do if you are struggling to repay what you owe. In order to obtain a credit card […]

Debt can when done properly benefit you as it can help you to buy a home, buy a family car, invest in education and improve your standard of living. Debt however can have disastrous effects if you begin to borrow too much money. Some of these problems include: Running out of money Unable to deal […]

When considering how to pay off debt or raise money for a large expenditure, most Americans think of those approaches with which they are most familiar.  These can include cutting back on discretionary expenses, taking a second job, cashing out certain investments, etc.  These are known and useful ways to make your money last longer. […]

In order to reduce debts, and be eligible for loans and credits with better interest rates, you can try to repair your credit scores. Credit scores are the reports which provide evidence of your credit behavior in the past, and thus offering your creditor the insight into how big a risk you will be for him, when giving you the money. Repairing your […]