#consumer-debt
#consumer-debt
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from24/7 Wall St.
1 week agoDave Ramsey: "Creative Financing Just Means 'I'm Going to Do Stupid'"
Trina, a 38-year-old Florida resident, was drowning in $44,000 of debt on a $60,000 annual income. Her financial obligations spanned car loans, credit cards, and her son's private school tuition-a complex web of commitments that became more concerning when she revealed filing Chapter 7 bankruptcy just two years earlier. This recent bankruptcy suggested her struggles weren't isolated incidents but part of a recurring pattern of financial instability.
Real estate
US politics
fromBusiness Insider
2 weeks agoMore Americans may turn to alternative lenders as Trump pushes for caps on student loans and credit card interest rates
New caps on student-loan borrowing and proposed credit-card rate limits could push Americans toward private and personal loans, boosting demand in lending markets.
Business
fromBusiness Insider
1 month agoA wave of bankruptcies is hitting nearly every corner of the economy, leading to this 'unusual' pattern
Bankruptcies are surging across the US, affecting corporations, small businesses, and individuals, driven by rising costs, tighter credit, and widespread economic pressure.
Canada news
fromwww.cbc.ca
1 month agoBuy now, pay later plans are everywhere. Here's how they're affecting debt-stressed Canadians | CBC News
Young adults under 35 face rising debt—student loans, first-time credit cards and buy-now-pay-later plans—creating financial strain and stalled progress in life.
Business
from24/7 Wall St.
1 month agoThe Fed's December Rate Cut Is Official: What Social Security Retirees Need to Know
The Fed's rate cuts lower savings yields and CD returns, may reduce borrowing costs and increase refinancing or home-equity access, but do not directly change Social Security COLAs.
fromwww.housingwire.com
2 months agoYounger buyers interested in 50-year mortgage, despite drawbacks
Federal Housing Finance Agency Director Bill Pulte reportedly mentioned the idea to President Donald Trump last weekend leading Trump to post about the idea on Truth Social. However, sources told CBS News this week that a 50-year mortgage plan hadn't been vetted by senior Trump administration officials and wasn't ready for release. Leaders across mortgage and real estate were almost uniformly against the idea.
Real estate
Business
fromFortune
3 months ago'Big Short' investor Steve Eisman warns the U.S. economy is a 'tale of two cities' that 'is not even growing 50 basis points outside of AI' | Fortune
U.S. GDP growth heavily relies on AI infrastructure spending; excluding AI gains reveals near-zero real growth and widespread consumer financial stress.
E-Commerce
fromThe Walrus
5 months agoHow "Buy Now, Pay Later" Seduced a Generation-and Trapped It in Debt | The Walrus
Buy-now-pay-later services let consumers receive goods immediately while deferring payment, functioning as microloans without credit checks and creating hidden or 'phantom' debt risks.
Canada news
fromwww.cbc.ca
8 months ago1.4 million consumers missed a credit payment in Q1, says Equifax report | CBC News
Consumer delinquency rates are rising due to economic uncertainty, influencing spending patterns and employment levels.
Younger consumers are particularly affected, with rising credit card delinquency rates.
fromZDNET
9 months agoBilt's credit card now lets you pay your student loans with points
"By enabling members to redeem Bilt Points toward student loan payments, we're addressing a critical financial need while continuing to differentiate our program as offering the most valuable and flexible points currency in the industry."
NYC startup
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