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Students' credit card debt drops slightly
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A study released Tuesday by college lender Nellie Mae found that 76 percent of undergraduates carried credit cards in 2004, down from a peak of 83 percent in 2001, when the last survey was made.
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Barclays sees rising bad debt
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Barclays said that, based on current trends, it now expects impairment losses for 2005 to be somewhat higher than in its last published risk-tendency statement. ...
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Consumer Spending on Visa Signature Credit Card Tops $100 Billion
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From April 1, 2004 through March 31, 2005, consumers made $101.6 billion in purchases with their Visa Signature cards. For the first quarter of calendar year 2005, spending on Visa Signature totaled $24.4 billion, an 18.9 percent increase over the same period last year.
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New bankruptcy laws - getting back on track just got harder
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Those who want relief from bankruptcy will have to undergo pre-filing, credit counseling, costing money in the form of counseling fees, accrued
interest -- or both.
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Serial bankruptcies
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Stories about people deliberately filing for bankruptcy multiple times aren’t all true. Some people just have major problems that would overwhelm anyone. A few, however, do game the system.
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With debt climbing, young consumers find it hard to save
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'The twentysomething generation, more than any other generation, is going to be left to fend for itself,' said Bill Slater, the St. Louis-based vice president of retirement and savings plans for MetLife insurance company.
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March consumer debt increase is smallest in four months
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Americans increased their borrowing for auto loans and other types of consumer debt at an annual rate of 3.1 percent in March, the smallest gain in four months, the Federal Reserve reported Friday.
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Protecting IRA savings in event of bankruptcy
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Even as Congress last month was making life more difficult for some people who have gone broke trying to keep up with high medical bills and tough economic times, the U.S. Supreme Court gave older Americans new protection for their Individual Retirement Accounts should they be forced to declare bankruptcy.
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Consumer credit rises to $2.1 trillion.
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U.S. consumers added to debt loads in March, the Federal Reserve said. Consumer credit outstanding rose $5.5 billion in March to $2.127 trillion , following a revised $5.8 billion rise in February to $2.121 trillion, originally reported up $5.6 billion .
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March increase represented a rise in consumer credit of $5.52 billion
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The consumer has been the standout performer for the economy, boosting personal borrowing to record levels to fuel a buying binge that has provided much of the fuel for the three-year-old economic expansion.
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College Students Swimming in Credit Card Debt
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When today's college students turn their
tassels at graduation, many will leave campus with more than just a diploma --
they also will depart with $20,000 in combined student loans and credit card
debt.
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Consumer borrowing increases in March
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Americans increased their borrowing for auto loans and other types of consumer debt at an annual rate of 3.1 percent in March, the smallest gain in four months, the Federal Reserve reported Friday.
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March consumer credit rises $5.5 billion
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U.S. consumer credit rose in March at an annual rate of 3.1%, or $5.5 billion, the Federal Reserve said Friday.
The number was $1 billion below expectations of economists surveyed by MarketWatch. ...
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U.S. consumer credit rose $5.5 billion in March
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U.S. consumer credit rose $5.5 billion in March, from $5.8 billion in February (which was revised up from an earlier estimate of $5.6 billion). The March figure is less than the $5.9 billion economists surveyed by Action Economics were expecting.
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(64%) Support New Tougher Bankruptcy Law
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More than six out of ten Americans
(64%) support the recently enacted bankruptcy legislation, which makes it
considerably more difficult for debtors to discharge their debts under Chapter
7 and will force more people to repay their debts under Chapter 13 filings.
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CONSUMER CREDIT RISING
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Economists warn that declining personal savings rates and higher spending could lead to a debt bubble and jeopardize consumer spending, which accounts for about 70 percent of the nation's gross domestic product.
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Your credit card payment just doubled
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So far, MBNA, Citibank and Bank of America have announced they are doubling minimum monthly payments on credit card balances from 2% to 4%. Others are expected to follow suit quickly. To some cardholders, that could be seen as a good thing. To others it could be devastating.
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Young people's debt skyrocketing
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In a time when more companies are cutting pensions and Social Security remains a question mark, financial experts would agree - especially as young people's debt from student loans and credit cards continues to skyrocket.
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MasterCard International plans to tell us how to get out of debt.
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The credit card company last week announced a multiyear 'Debt Know How' program.
Nowhere does the press release mention that the first step should be to stop using your MasterCard.
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