Latest News in Credit Card Debt – Dec 7, 2007

Please note it is your responsibility to evaluate the accuracy, completeness and usefulness of any information, opinion or advice contained in the content below.

Credit card debt accelerates
CNN Money – WASHINGTON (AP) — Consumer borrowing rose in October at a slightly faster rate than the previous month as shoppers continued to depend on their credit cards to finance purchases. The Federal Reserve reported Friday that consumer credit increased at …

U.S. consumer credit grows at 2.3%in Oct.

Xinhua News Agency – In October, consumer borrowing in revolving loans, a category that includes primarily credit card debt, advanced at an annual rate of 8.3 percent pace. That was up from a revised 6.0 percent rise in September and an even stronger pace of 10.6 percent …

Sector Wrap: Credit Card Lenders
CNBC – He thinks losses on credit card debt could reach 6.5 percent, while investors probably do not expect losses of more than 5.5 percent, he said. “All eyes are focused on credit, but the market may not yet have discounted what we see as the full extent …

US October consumer credit up 4.7 bln usd, 2.3 pct annual growth rate
Forbes – Revolving — or credit card — debt did grow faster in October than September, up 6.3 bln usd, an 8.3 pct growth rate vs 6.0 pct the previous month. However, non-revolving credit — such as auto loans — fell for the second straight month. October’s …

Credit card practices on Senate agenda
Newsday – In total, Americans carry about $900 billion in credit card debt, and an average family has five credit cards. During the hearing, the panel heard from consumers who had charged close to the credit limit on their cards but had made the minimum payment …

Credit Card Use Up
Forbes – The gain reflected an acceleration in the growth of credit card debt which offset a second straight month of declines in the category of debt that includes auto loans. Copyright 2007 Associated Press. All rights reserved. This material may not be …

U.S. Consumer Borrowing Rose $4.7 Billion in October (Update1)
Bloomberg – Revolving debt such as credit cards rose $6.3 billion in October and non-revolving debt, including auto loans, fell $1.6 billion, the Fed reported. In advance of today’s report, economists expected consumer credit to rise by $5 billion …

Cherie Blair’s adviser jailed for fraudulent loan scheme
Guardian Unlimited – But prosecutor Liz Wilson said he used the money to pay outstanding rent on a girlfriend’s house in Australia and to repay his own credit card debt and family debts. He fooled the bank, which had asked for proof of the ongoing work, by using false …

BUDGET OR SPLURGE?
Chicago Tribune – IS YOUR WALLET MORE BLUE than flush with green these days? It seems many of us don’t feel so affluent anymore. Whether it’s from credit card debt, an escalating mortgage, or a long-overdue raise, finding finances are tight. And one of the first …

Peter Foster jailed for four years
News.com.au – He also spent the money on repaying credit card debt and the debt of family members. The court was told Foster provided false documents about what the money was to be used for, going to the extent of passing off photographs of work on another …

Tagged:

annual, cards, consumer, credit, Credit Card, debt, family, loans, money, payment, rent

Free Newsletter

Sign up for the free Daily newsletter, filled with tips and ideas on avoiding credit card debt, credit history, tips on getting out of credit card debt, and more. Your email address will be kept confidential and won't be shared. Easily unsubscribe at any time.

If you enjoy the free information available on this site, you're sure to enjoy the free newsletter as well:

Share and Enjoy:

December 07 2007 10:35 am | Credit Card Debt News

Trackback URI | Comments RSS

No Debt Anymore .org

Advice on credit repair, credit reports and debt solutions