Collection Industry News

MARCH 10, 2024

Making a plan to get out of credit card debt The good news is that the majority of people say they’re taking steps to get a handle on their credit card debt, according to New York Life’s survey. Around 64% say they’re adjusting their credit card debt management strategy.

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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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Accrued Interest Lender Debt Management Banks 52

Better Credit Blog

APRIL 11, 2022

Since more Americans are under pressure to resolve their debt, we’ve outlined several strategies that reduce or eliminate this financial liability. What is Debt? Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. Debt Settlement.

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Credit Corp

MAY 1, 2021

The average American has about $6,000 in credit card debt , with a large percentage of this amount resulting from accrued interest. With a limited understanding of how credit cards work, many people end up paying more interest than they should over the term of their credit card. Pay Off Your Mortgage Early.

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