Five years ago, economists predicted that American consumer debt would rise to $3 trillion before the end of the decade. As the year 2018 comes to a close, that debt is reaching $4 trillion. At the beginning of 2018, credit card debt was at an estimated $1 trillion. Other deficits, like student loans, added up…
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For many consumers, the invention of the credit card was a godsend. Whether the purchase was compulsory or necessary, consumers were able to use a simple plastic card to make that bargain with little hassle. In the modern era, that simplicity makes it easy to overspend, if you’re not thinking about it. Traditionally, banks present…
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After graduating college and acquiring a job, you start participating in the mad hustle of life. Paying for rent or a mortgage, your car, and your student loans is difficult. With any job, you’re likely barely keeping afloat, and when you lose that job, the situation suddenly begins to look very bleak. You’re unemployed. With…
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Dealerships often rely on credit scores and financial history to determine if a person is liable to make their car payments. After all, they don’t want to sell a car to someone who isn’t going to pay for it. You may have had a bit of financial difficulty in the past, or you may be…
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If you’re facing a series of credit card bills that you can’t pay back, then you may be looking for options to help you reduce the burden. One of those tempting alternatives may be credit card debt forgiveness. While the idea that there’s an agency that will magically remove your debt or even just a…
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Cosigning a credit card or loan allows the bank to pursue you for payments when the other person cannot. Unless the other person can demonstrate that they can handle it alone, banks typically won’t allow you to remove your name. If you’ve cosigned for a loved one, removing your name will be difficult, but it…
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The most famous travel destinations in the world are both unique and expensive. You must consider the cost of airfare, lodging, transportation, activities, and food. Many travelers rely on credit cards and personal loans to finance a trip, but before taking off to a new location, you should research all potential expenses and consider the…
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It is not uncommon for a consumer who has fallen significantly behind on credit card payments to close it. Others may close a credit card because they have had a dispute with the issuing entity or they have no need for the balance any longer. However, everyone should be aware that taking this step will…
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There is a specific dissociation that people experience when using credit cards as opposed to paper money. People tend to spend freely when using a charge card because there is no physical exchange of bills taking place. Seeing cash leave your hand is a very tangible experience. Shopping with plastic is simpler, making it easy…
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Nearly everyone in the US has a credit card and relies on a good credit score to be able to live a financially healthy life. With this in mind, many people believe that they’re better off financially because they stay totally debt free, and don’t have any obligations on their cards. While having debt may…
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. Heather Weis | Benveniste Law Offices