July 2009

Credit card debt, bankruptcy rising among seniors (The Fort Collins Coloradoan)

DENVER – Charles Henry and his friends, all retirees, get together to play tennis in City Park every day. Today, the score of the match isn’t the only number they’re discussing. Another important number to Henry is the amount of his credit card balance: zero.

Credit card debt rises faster for those 65 and older (USA Today)

Cash-strapped older Americans are racking up credit card debt faster than other consumers amid dwindling retirement portfolios and rising medical costs, a study shows.

Credit debt plagues older Americans (WWLP Springfield)

Many cash strapped consumers are “paying with plastic.” Older Americans are racking up debt faster than other age groups because of shrinking retirement accounts and rising medical costs.

Senior citizen credit card debt rises (WTHR Indianapolis)

Many seniors living their their golden years are finding less treasure and more debt.

Seeking help to reduce credit card debt (The Malay Mail)

BALASUBRAMANIAM is facing problems paying back his outstanding credit card debt, which has grown to almost RM10,000 over the years. He said the debt had been rising sharply due to accumulated interest.

When settling credit card debt, beware scams (The Cincinnati Enquirer)

Debt-settlement companies typically try to negotiate with credit card companies to reduce the amount you owe. But like a weight-loss product that causes you to gain 10 pounds, some of these programs could leave you even deeper in debt.

$200bn ticking debt bomb (The Australian)

CORPORATE Australia is sitting on a $200 billion debt bomb that needs to be refinanced over the next three years.

Buy now, pay later: The history of credit (South Bend Tribune)

Financial institutions helped develop consumer credit in the 1920s, as postwar prosperity raised the standard of living and old ideas about the burdens of debt quickly disappeared. Americans became so enamored of credit and layaways that many couldn’t survive without them.

Rants left GOP fund with debt after ’08 elections (The Des Moines Register)

Rep. Christopher Rants, a Republican candidate for governor and outspoken critic of Gov. Chet Culver’s handling of the state budget, left his peers in roughly $200,000 of debt after the 2008 elections.

State’s sale of short-term debt faces hurdles (San Francisco Chronicle)

Passage of the state budget fix will allow California to sell short-term debt to refill the general fund and stop issuing IOUs. Given how low the state’s credit ratings have fallen, that could be a tough sell. The state might have to rely heavily on… Sponsored Topics: California – Credit rating – Business – Government budget – Money market

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