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Credit card debt: addressing the real causes

July 23, 2011

Running up debt, paying it off, and incurring more debt suggests a pattern of compulsive spending and sabotaging your debt management plans.  Anju D. Jessani, MBA an accredited professional divorce mediator, notes that dysfunctional behaviors relating to money range from hoarding money to compulsive spending. These behaviors create problems such as denying basic needs, obsessing [...]

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Debt relief and the stages of grief: Here’s the connection

July 22, 2011

Author and economic commentator Charles Hugh Smith blogs for the Business Insider about the federal debt situation and its connection to Elizabeth Kubler Ross’ stages of working through loss. The Kubler Ross stages also fit consumer attitudes and reaction toward out-of-control credit card debt:
Denial: Never mind the creditors calling at all hours, and that you [...]

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Fed reports rising consumer borrowing, debt

July 11, 2011

The Federal Reserve reports that U.S. consumer credit rose in May by $5.08 billion, the eighth consecutive increase, significantly outstripping economists estimates of $3 billion. During the same month Credit card debt rose by $3.36 billion, to a total of $793.13 billion.
This news is a double-edged sword.  Increased consumer borrowing suggests that lenders are expanding consumer lending, and consumers [...]

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Pre-qualifying deadline looms for HUD emergency homeowner loan program

July 5, 2011

HUD’s Emergency Homeowners’ Loan Program (EHLP) assists homeowners facing foreclosure caused by economic or health conditions. Interest-free loans can be used for bringing mortgage payments current, and reinstating mortgage loans from foreclosure. EHLP provides for loan forgiveness for homeowners occupying their homes for five years after the loan program has been completed.
HUD is working with [...]

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