Collection Industry News

MARCH 10, 2024

Total credit card debt in the U.S. trillion in credit card debt as of the end of December, according to the Federal Reserve Bank of New York’s latest Household Debt and Credit Report. Around 64% say they’re adjusting their credit card debt management strategy. Americans collectively hold $1.13

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Credit Corp

OCTOBER 25, 2023

Types of credit card consolidation include credit card consolidation loans, balance transfer credit cards, home equity loans, HELOCs, retirement loans, cash-out auto refinance, family loans, and debt management plans. How to Consolidate Credit Card Debt Credit Card Consolidation FAQ What Is Credit Card Consolidation?

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Debt Guru

OCTOBER 22, 2021

Here are four important things that your lender might not tell you – but knowing them can spare you a world of financial hurt. If you only pay the minimum amount, you’ll accrue interest, your balance will increase each month and you will find it difficult to ever pay off the balance. Understand What You Owe.

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Debt Guru

MAY 27, 2021

And there are likely a few gray areas your lender didn’t fully disclose. The lender only requires you to remit the minimum amount to keep your card active. And here’s why: If you make just the minimum payments, your account will accrue interest. And credit card interest rates can be 15%, 20%, even 25%.

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