As economic uncertainty continues to make itself felt, consumer debt will likely exhibit “marginal balance growth” with broadly stable delinquencies over the next year, TransUnion stated in its latest analysis. “While the Canadian economy has slowed, key measures like inflation … Continue reading →
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Portland city ombudsman Margie Sollinger Gene Cotton Sollinger took a closer look at the city’s practices after hearing about Lomax’s case. She found the city’s effort to use a private collection agency against Lomax was punitive. Lomax clearly didn’t have … Continue reading →
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Credit card issuers start reporting monthly credit quality metrics. Capital One Financial (NYSE:COF) November credit-card delinquency rate of 3.91% increases from 3.79% in October; three-month average is 3.80%. Net charge-off rate for the month rises to 4.43% from 3.95% in … Continue reading →
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KEY POINTS One-third of credit card holders are in debt because of medical bills, according to recent research from CompareCards.com. Almost 60% of those individuals said they used their credit cards because they had no other way to pay. If … Continue reading →
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Moody’s found that writing off student debt would likely lead to a “modest increase’’ in household spending and investment, and higher rates of home ownership and business formation. (Emily Varisco / Associated Press) By BEN HOLLANDBLOOMBERG DEC. 11, 2019 5:30 AM … Continue reading →
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Education Secretary Betsy DeVos is pushing ahead on her plans to cancel only a portion of loans taken out by defrauded college students, even amid legal setbacks and as House Democrats prepare to grill her during a hearing next week. … Continue reading →
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Canadians will likely see a slight increase in debt and delinquencies next year, particularly in Western provinces hit by downturns in the oil and farming industries, according to a new report by a consumer credit reporting agency. The average Canadian’s … Continue reading →
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KEY POINTS A new survey finds that 84% of individuals would rather save $5,000 than shed 5 pounds in 2020. Another big goal for next year — reducing debt — tops other resolutions, such as reducing computer or phone screen … Continue reading →
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CNBC | Jaden Urbi Outstanding education debt has outpaced credit card and auto debt. The average college graduate leaves school $30,000 in the red today, up from $10,000 in the 1990s. Nearly 40% of students who took out loans in … Continue reading →
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WASHINGTON – U.S. consumers ramped up their credit card spending in October. The Federal Reserve said Friday that total consumer borrowing rose in October by a seasonally adjusted $18.9 billion, up from a September increase of $9.6 billion. It was … Continue reading →
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