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Credit Card Debt Archives

Be careful about increasing credit card debt during the holidays

The holidays are upon us and, with the frenzy of finding the right gift for everyone on your list, credit cards will be the payment method used by many Americans. While the convenience of credit cards and the ability to pay off the cost of gifts after the first of the year may be tempting, for many families it is only exacerbating a disturbing problem. According to recent reports, total household debt is growing faster than household income and credit card debt is the third largest type of debt, following only home mortgages and student loans.

Peer-to-peer lending a scary solution to credit card debt

Americans are no strangers to credit card debt. In fact, about 40 percent of families are unable to make their credit payments. Ever since credit cards were first introduced to the general public, they have been a tantalizing pit that families in Kentucky often fall into, but a new solution is being presenting that could do more harm than good: peer-to-peer lending.

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