Inflation is now at forty-year highs. Costs of everything, most importantly necessities, are soaring. As you would expect, this is causing many Americans to turn to credit card usage to pay for essential monthly expenses such as fuel, utilities, and food.
This article about the affects of high inflation and interest rates does a good job of explaining the impact of the damaging inflation and interest rate increases; especially how it will hurt borrowers with significant credit card debt.
If you find yourself over extended on credit cards, payday loans, or other debts, it may be time to consult with me to discuss your financial options. Inflation appears to only be worsening. Please feel free to contact me for your free consultation. My cell is 214-288-1917.
Many Americans are feeling the weight of rising costs, with everyday essentials like groceries becoming increasingly difficult to afford. As more households turn to credit cards to cover basic living expenses, many are finding themselves unable to keep up with monthly payments. If you're struggli...
U.S. bankruptcy filings are going up, with a noticeable year-over-year increase as more people and businesses struggle financially. Economic pressure like higher costs and tighter budgets is pushing more debtors to seek relief through the courts. The rise shows that financial stress is becoming more common for both consumers and companies.
The Federal Reserve cut interest rates by 0.25%, its first reduction since December, citing a cooling job market and rising risks to the economy. While inflation remains above target, the move has already lowered mortgage rates, which could provide temporary relief for borrowers struggling with high debt costs.
Mortgage rates have plunged to approximately 6.28% for a 30-year fixed loan, the lowest in nearly a year, after a disappointing August jobs report fueled hopes for Federal Reserve rate cuts. This drop has sparked a notable surge in refinancing and purchase applications as borrowers look to lock in more favorable borrowing costs.
Heavy consumer debts, years of stiff inflation and higher interest rates are squeezing Americans' budgets. https://www.cbsnews.com/news/chapter-7-bankuptcy-file-consumer-debt/
Lending services such as Afterpay, Klarna, Affirm, and Pay Pal are rising in usage with persisting inflation. As consumers get hit with late fees, it will now reflect on their credit score. https://www.foxbusiness.com/personal-finance/buy-now-pay-later-loans-now-impact-americans-credit-scores
U.S. credit card defaults have surged to their highest level in 14 years, signaling growing financial strain among consumers. This trend may lead to an uptick in bankruptcy filings as more individuals fall behind on unsecured debt payments.https://www.foxbusiness.com/economy/us-credit-card-defaul...
A recent survey reveals that 63% of loan officers believe the United States is on the brink of — or already in — a recession. https://nationalmortgageprofessional.com/news/lenders-prep-recession-deals-collapse-and-buyers-stall
Buy Now, Pay Later apps may seem convenient, but can hurt your credit score.
https://nationalmortgageprofessional.com/news/us-foreclosure-activity-rise Foreclosure activity in the U.S. rose in early 2025, with Dallas seeing a notable increase in new filings. The spike reflects growing financial strain as pandemic-era relief ends.
1 in 4 Americans are now forced to choose between paying bills and affording basic needs. Chapter 7 bankruptcy may provide relief.
You have several viable options if you are struggling with your automobile loan.
An interesting article about "underwater" (when the borrower owes more on their home than it is worth) home mortgages. Fortunately the percentage of mortgagees in this situation is significantly less that in prior economic downturns.
Just read an interesting article I found in Forbes Advisor written by a fellow Texan. Very insightfully tracks the various economic indicators that impact the health of the American economy. While there are some positive signs, as expected there are also some areas (like housing) that are not ...
Credit card debt is growing - you are not alone if you are struggling with debt!
