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The news reports have been surprising:Several studies show that consumers have actually been reducing their credit card debt following the Great Recession and its painfully slow recovery. But a closer look at the numbers suggests that a greater number of consumers might be in need of working with a credit counseling company than these studies suggest.
Financial Web site CardHub recently ran its own study of consumer credit card debt. It found that credit card debt fell during the second quarter of 2010 by about $12 billion when compared to the first quarter of the year. That sounds like good news. But, during the second quarter banks charged-off $21.8 billion of credit card debt. Charge-offs take place when banks give up on collecting certain debts.
These numbers suggest that consumers actually accumulted $9.8 billion of credit card debt during the second quarter of the year.
That seems more likely given the problems that the national economy is still experiencing. The national unemployment rate remains at 9.6 percent, far too high. Housing values have continued to fall. And bankruptcy filings are up. It makes sense that consumers during these tough times woudl rely more heavily on their credit cards to pay for their basic living expenses.
It also makes sense that more consumers today would benefit from working with an ethical credit counseling company.
A credit counseling company can help consumers set up a monthly budget so that they know exactly where their money is going. This budget can also help consumers refrain from spending more money than they are taking in each month.
But the main goal of a credit counseling company is to change the negative spending habits of consumers. A reputable credit counselor will focus on this task. These companies will work with consumers to help them understand what triggers their overspending. They will also develop strategies that consumers can use to stop their overspending before it starts.
If consumers don't address the reasons behind their negative spending habits, the odds are good that they'll simply run up their credit card debts again and again. Paying down credit card debt is one thing; preventing this debt from building up again requires a different set of skills.
Consumers who are ready to gain control over their spending should investigate the merits of working with a credit counseling company.
What else can I help you with?
Is Paul Michael Glaser the spokesman for a debt counseling company?
Yes he is. The company is Consolidated Credit Counseling Services.
What kind of company is Careone Credit Counseling?
Careone Credit Counseling is a debt relief company that helps consumers get out of debt with the help of a trained credit counselor. They also provide credit counseling for those in need.
What does a factoring company focus on?
A factoring company focuses on the financial aspect of a company and the accounts payable and accounts receivable. Some aspects of it involve estimating how much a company will be spending in the coming month and limiting spending so they are in the black instead of overspending.
Is it correct to say she is A good company or she is good company in relation to spending time with someone?
The correct phrase is "she is good company." This expression means that she is enjoyable to be around and makes spending time with her pleasant. Saying "she is a good company" is grammatically incorrect in this context.
What is needed in order to sign up for credit counseling services?
What is needed in regards to signing up for credit counseling services will depend on which credit counseling company you decide to go with. Each company will have their own specific requirements, although there are some standards that almost all companies will ask for. The first thing you
Which companies offer Christian financial counseling?
One company is Financial Peace University lead by Dave Ramsey. But is this not a company.
A company that is horizontally integrated has what as its goal?
To eliminate or take over their competition
Are there lawyers who specialize in debt consolidation and levis?
If you were to ask a debt counselor about the best route to eliminate your debt, it is very likely that he will tell you to seek out a debt consolidator. Debt consolidation is an excellent, smooth way to eliminate your debt. If your goal is to consolidate your debt, you have several options. You could, for instance, utilize a company that specializes in debt counseling. A company like the one just mentioned will try to negotiate lower interest rates and payments with your creditors. All of your debts will be consolidated into one payment to them, which they will use to pay off your different creditors.
Is a negative PE ratio considered good for a company?
A negative PE ratio is generally not considered good for a company because it indicates that the company is not currently profitable.
If you use a debt counseling service that consolidates your debt for you can you still make payments to your credit card company directly?
When you use a debt counseling service that consolidates your debt for you, you are supposed to make one monthly payment to the credit counseling company instead of paying your credit card companies individually. However, if you come into some extra money and you want to make an extra payment directly to the credit card company, you may need to do some research. Once you sign a contract with your credit counseling company you'll need to abide by the terms of that agreement. Many credit counseling companies want all payments made to your credit cards to go through them. This will mean that you will need to send the extra money to the credit counseling service rather than directly to your credit card company. Another thing to think about is if you do send the funds to the credit counseling service, you might not have any control over which credit card they apply it to. You can tell them where you would like it applied, but that doesn't necessarily mean that's where they have to apply it.
Can a profit margin ratio be negative?
A profit margin can be negative if the company had a negative net income. For eample if the company had $100,000 in net sales, but their net income was ($10,000) then (10,000)/100,000 = (10%) or negative 10%.
Is spending a company money a crime?
no its not unless u are doing severe damage to the company that may revolove money to fix.
