Stephen Brobeck
Stephen Brobeck
Stephen Brobeck is the director of the Consumer Federation of America...
card debt shifting trouble
Shifting debt from one card to another can get you in trouble if you just accrue more debt.
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Banks are hypocritical to seek bankruptcy restrictions when their irresponsible marketing and extension of credit card debt has been an important cause of rising personal bankruptcies.
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If you ask for understanding and relief from credit card companies and mortgage companies, the cash you raise will go farther,
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Those who have obtained their scores know significantly more about credit scores than those who have not,
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Most Americans are now aware of the consumer debt trap and the need to build wealth, but don't believe they can do so.
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On some small accounts, the fees are so high and the interest is so low that the savings dwindle rather than accumulate.
despite grew hardly house net rise wealth
Net wealth hardly grew despite a substantial rise in house values.
average banks billion cds consumers credit earn funds interest per recommend savings shift
We recommend that consumers shift their funds from traditional savings to CDs and from banks to credit unions. If everyone did so they would earn about $40 billion more in interest annually. That's an average of about $400 per household.
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You basically charge what the traffic will bear.
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It prevents credit unions from extending their services to small employee groups.
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Despite all of the news coverage about credit scores over the past year, many consumers still do not understand important facts about these increasingly influential numbers.
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It's important to pay attention to any mailings from issuers for changes in terms and conditions,
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It's a small industry that sells protection in the event you can't make your payments. Essentially, you buy it and it's very expensive; it's not a good deal.
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It's discouraging. What we see is little change in the assets of the typical American household between 2001 and 2004, after substantial increases in the previous six years.