Similar Stories to Credit Card Debt Is Falling, But Only Because Of Defaults, Report Says on Bing News

The Huffington Post, Huffington Post: Business
Sun, 03/20/2011 - 8:50am

Credit card debt fell last year only because of consumer defaults and bank write-offs, a new study argues. In 2010, U.S. credit card debt dropped to the lowest level in eight years, according to credit reporting agency TransUnion. But there is more evidence Americans may have taken on more credit card debt than they paid off. A study by Cardhub.com of Federal Reserve data found that last year, while banks wrote off a total of $75 billion in credit card debt, the level of the debt only declined by around $67 billion.

Place your ad here
Loading...

BING NEWS:

This Week In Credit Card News: Defaults At Highest Level In 14 Years
Fed Rate Cuts Won’t End the Sting of High Interest Rates for Subprime Cardholders ...
01/2/2025 - 3:50 am | View Link
Credit Card Defaults Surge to Highest Level Since 2008 Crisis
US credit card defaults have surged to levels not recorded since the 2008 financial crisis, with lenders writing off $46 billion in bad debt during the first nine months of 2024. The write-offs, ...
01/2/2025 - 3:26 am | View Link
Why are credit card defaults surging?
Many Americans are starting 2025 carrying unmanageable credit card debt. The credit card default rate has hit its highest level since 2010, as lenders wrot ...
01/1/2025 - 11:23 am | View Link
Bernie Sanders Calls Trump's 10% Interest Rate Cap On Credit Card Debt A 'Great Idea' As Defaults Surge To Highest Levels Since 2008
Sen. Bernie Sanders (I-Vt.) announced plans to introduce legislation supporting President-elect Donald Trump‘s proposal to cap credit card interest rates at 10%, as credit card defaults reach their ...
12/31/2024 - 10:02 pm | View Link
US credit card defaults surge 50% in 2024, reaching a 14-year high
US credit card defaults surged by 50% compared to the previous year, reaching levels not seen since 2010, according to data from BankRegData analyzed by the Financial Times. This alarming trend has ...
12/31/2024 - 1:58 am | View Link
More

More Movie News

More Business News

Warren Buffett dumped stocks, built a $300 billion cash pile, and updated his death plan in 2024. Here are his 6 highlights.
Business Insider, Sunday - 01/05/2025 - 04:33 AM
Warren Buffett is CEO of Berkshire Hathaway. REUTERS/Rick WilkingWarren Buffett paid tribute to Charlie Munger and pared his Apple and Bank of America bets in 2024. Berkshire Hathaway hit a $1 trillion market value and its cash pile ballooned to more than $300 billion. Buffett donated some $6 billion to good causes and updated his plan for post-mortem giving.
More | Talk | Read It Later | Share
Microsoft certifications can boost your skills in job fields like IT, AI, data science, and more. Here's how they work.
Business Insider, Sunday - 01/05/2025 - 04:31 AM
Microsoft offers certifications and free training modules for some of its products, like the cloud computing platform Azure. Cravetiger/Getty ImagesMicrosoft certifications can help demonstrate your skills for jobs like IT or software engineering. Microsoft offers a variety of certifications in its products like Azure, Windows, or Microsoft 365. Microsoft offers free, self-paced training, and you can pay to take an exam and become certified.
More | Talk | Read It Later | Share
How parents, tipped workers, and EV drivers could see their taxes change in Trump's year of 'tax Super Bowl'
Business Insider, Sunday - 01/05/2025 - 04:27 AM
President-elect Donald Trump's 2017 tax package is set to expire in 2025. Jabin Botsford/The Washington Post via Getty ImagesTrump's 2017 tax cuts are set to expire this year, which could impact Americans' wallets. Trump's Tax Cuts and Jobs Act lowered individual rates and doubled the child tax credit. Experts shared how individual taxes, along with tax breaks for parents and EVs, could change.
More | Talk | Read It Later | Share
Here's what to expect for raises, promotions, and job-seeking in 2025
Business Insider, Sunday - 01/05/2025 - 04:16 AM
Liam Eisenberg for BIEconomists talked to Business Insider about what they expect to happen in the job market this year. Getting a white-collar job could still be hard, and more people may have to return to the office. Changes under a new administration could affect hiring and turnover. Getting a job was tough for many Americans in 2024.
More | Talk | Read It Later | Share
Justin Baldoni's lawsuit against The New York Times will be tough to win but could help his reputation, lawyers say
Business Insider, Sunday - 01/05/2025 - 04:08 AM
Blake Lively, left, and Justin Baldoni, right. Scott A. Garfitt/Invision/AP; Evan Agostini/Invision/APMedia lawyers weighed in on Justin Baldoni's lawsuit against the New York Times over its Blake Lively article. They said it'll be hard to prove libel but that the suit could be effective amid a broader strategy. The Times defended its story and said it would vigorously fight the lawsuit.
More | Talk | Read It Later | Share
A supercommuter who makes a 3-hour trip several times a week shares why the perks outweigh the challenges
Business Insider, Sunday - 01/05/2025 - 04:01 AM
Caroline Colvin commutes between one and three days a week for her social media specialist job. Caroline ColvinCaroline Colvin commutes from New York City to Baltimore between one and three days a week. She said living in New York City helps her pursue acting on the side while keeping her other job.
More | Talk | Read It Later | Share

Similar Stories to Credit Card Debt Is Falling, But Only Because Of Defaults, Report Says on Bing News

Welcome to Wopular

MoviesWithButter : Our Sister Site

More Business News