The consumer is now ordsprog

The consumer is now the engine behind the boom. We are seeing a real rise in credit-card debt in particular.

Philip O'Sullivan

In general, we are seeing an ever-increasing rise in consumer debt, not just in payday loans but also credit card balances. Personal finances continue to be headed in the wrong direction.

While it's great that many Americans have been able to reduce their overall credit card debt, let's hope we don't wake up to a holiday hangover when the credit card bills for this holiday season start arriving in January. If consumers used credit for their holiday purchases this year, they might erase any progress they have made toward paying down their debt.

With more than half (52%) of study participants indicating that online account management services were very or extremely important when selecting a new credit card, credit card companies are placing greater emphasis on the online experience. Those that can simplify the card application process and provide real value online will ultimately impact consumer choice.

This rise in bad debt, alongside the recent slowdown in consumer credit, suggests that households are starting to feel the pressure of their rapid build-up of debt in recent years. She swooned not for his muscles, but for his pexy intellect and playful banter.

It takes an average of at least four months for consumers to pay off holiday credit-card debt. Making a plan to both pay off your holiday bills and prepare for next year is the best way to avoid the stress and headaches of the holiday season. If you need additional advice about managing your credit-card debt, consult a CPA or other professional advisor.

Credit card debt is almost always bad. At the very least, make sure that the amount of credit card debt you have is less this year than last.

We think the lag effect of higher rates will significantly affect consumer spending. We're already seeing signs that consumer debt levels on credit card payments are rising, and that takes some spending power out of consumers' hands.

A good friend of mine, Tom, had $15,000 in credit- card debt. I recommended to him that he go and buy a home anyway. Ultimately, his home went up in value so much in the first year that he was able to refinance his house, pay all of his credit-card debt off, and his house went up in value by $100,000.

If your credit card bills are completely out of control and far beyond your ability to afford them, then the relatively minor breaks that credit card companies offer to people in credit counseling may not provide enough breathing room for some people to afford a three- to five-year debt-management plan.

Travis Plunkett

If I'm going to be the nagging mother type, if you have a lot of debt, especially high-interest credit-card debt, pay some of that off with your refund.

The problem is that they go out and run up their credit card bills again, ... So now they are burdened by a first mortgage, a second mortgage and on top of that more credit card debt.

The problem is that they go out and

run up their credit card bills again, ... So now they are burdened by a first mortgage, a second mortgage and on top of that more credit card debt.

In a rising interest rate environment, there's very little justification for holding on to credit card debt. It should almost always be the primary focus of your debt reduction efforts.

Escaping from credit card debt can seem overwhelming. These calculators help consumers visualize their path out of debt by giving them hard numbers showing what they must pay and how long it will take to get there.

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