Stressed borrowers use plastic to delay default
Story date: 2007-10-28 11:18:00
Added on: 2007-10-28 16:00:21
Boston Globe - The problem with using credit cards -- with their high interest rates -- to stave off default brought on by "reset" adjustable mortgage interest is that it merely postpones an inevitable crisis, said Gregary Brown, social policy director at ...
Read more...
Related Stories:
-
Feds target deceptive credit issuers (Miami Herald)
Subprime credit cards might be the worst consumer-credit product ever marketed. Their high interest rates, costly penalties and high, hidden fees can...
2008-06-29 12:16:34 -
Bucci: If you can afford house, pay mortgage before credit cards (The Record Searchlight)
Q: What is worse - having your home go into foreclosure or allowing your credit cards to default?...
2008-02-24 11:47:19 -
Credit cards sock late payers with default rates of 30% or more (Market Watch)
Faced with mounting account delinquencies, major U.S. banks are penalizing credit-card customers late on payments by hiking their accounts to maximum default...
2008-01-01 06:04:25 -
New criteria for credit cards as default rate rises
Sri Lanka Sunday Times - A senior manager of the People's Bank told The Sunday Times FT that they offer a competitive...
2007-12-22 11:58:00 -
Navigating the deluge of credit cards Remember to read the fine print (Contra Costa Times)
In a country where there are hundreds of credit cards to choose from, picking one that best suits your financial needs and...
2007-12-28 03:19:52 -
Credit cards loosely tied to Fed rate cuts
Detroit News - But credit card interest rates remain high and in many cases have even climbed. Bruised by a rise in...
2008-02-18 12:55:00 -
COLUMN-The American way of default: James Saft
Forbes - The result was that they'd stop paying off their credit cards first, the car loan second and only last would...
2008-03-06 12:23:00 -
SHADES OF GREEN: Credit Cards Sock Late Payers With Default Rates Of 30% Or More (Nasdaq)
SAN FRANCISCO (Dow Jones) -- Faced with mounting account delinquencies, major U.S. banks are penalizing credit-card customers late on payments by hiking...
2008-01-01 08:29:54
