Latest News in Credit Card Debt - Dec 28, 2007

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Warren Buffett starts bond insurer to take on rivals hurt by credit …
Times Online - He also insisted that the new business would not invest in bonds backed by mortgages or by credit-card debt. Mr Buffett also said that his investment vehicle had agreed to buy the NRG reinsurance unit of ING, the Dutch bank, for $441 million. In a …

Resolve to get rid of lingering credit card debt

Carroll County Online - The Christmas shopping season is over, but many people will have a lasting memory of it for months to come. Hopefully your memories are of the time spent with family and the celebrations of the season. Unfortunately, many will be remembering all the …

Unpaid credit card bills rising
Baltimore Sun - Economists also cite America’s long-standing attitude that debt - even high-interest credit card debt - is not a big deal. “The desires of consumers to want, want, want, spend, spend, spend - it’s the fabric of our nation,” said Howard Dvorkin …

Beware of bargains
News.com.au - Spending at sales expected to exceed $6.2bn A $3000 credit card debt will take 19 years to pay off at minimum repayments More credit card news in our Money section BARGAIN hunters across the country are spending much more at post-Christmas sales than …

Is Your Credit Card Balance Deductible?

WCAX - The amount of personal credit card debt is hitting all-time highs and financial experts have some advice for consumers. When you pay by credit card, the balance is not deductible on your income taxes unless the card is a business card. But if you …

Equity volatility here to stay in 2008
Reuters - … remain high in 2008, most analysts say, amid expectations that credit losses concentrated in lower-quality subprime mortgages will broaden to affect many borrowers once thought good credit risks, as well as other types of debt, including credit card …

Legg Mason Shores Up Cash Funds With $1.12 Billion (Update2)
Bloomberg - SIVs use proceeds from short-term debt to buy longer-term securities backed by assets including subprime mortgages and credit-card receivables. Legg Mason announced its move after the close of regular U.S. trading. Legg Mason shares fell …

UPDATE 2-Legg Mason reduces ABCP investments in two funds
Reuters - Asset-backed commercial paper (ABCP) is short-term debt tied to mortgages, credit-card payments or other kinds of receivables. SIVs are specialized funds that raise cash by issuing commercial paper and then use the proceeds to buy high-yielding assets …

Unsecured debt consolidation loans ? No more credit card bills

Best Syndication - Summary: Debt consolidation loans are available to the consumers for getting rid of their credit card debts. People also use these loans to successfully reduce their monthly outgoings and to get extra time to repay their debts. A borrower who has …

Resolutions for budget, credit cards, home
Baltimore Sun - The average American has more than $9,000 in credit card debt. That’s in addition to a mortgage and a car loan. Debt isn’t much of a problem unless you have financial dreams you hope to achieve. For future homeowners, every dollar you spend to pay …

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December 28 2007 10:40 am | Credit Card Debt News

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