A new report, issued by the research firm Innovest Strategic Value Advisors, predicts that as the fallout from the credit crunch continues, consumers will be increasingly likely to default on their credit cards, forcing banks to write off nearly $100 billion in credit card debt over the next year (more…)

Popularity: 5% [?]

As a growing number of cash-strapped consumers fall behind on their monthly credit card payments, credit card issuers are abruptly lowering credit limits on many customers’ cards, in some cases by more than 50 percent.

The consumers currently most at risk of getting their credit limits cut, reports The New York Times, are those who (more…)

Popularity: 15% [?]

In the midst of a global financial and solvency crisis that’s left U.S. banks largely unwilling to extend loans or credit to many individuals, small businesses, or even other banks, 62 percent of credit card companies are reducing their customers’ credit card limits, often suddenly and without notice, (more…)

Popularity: 5% [?]

When you’re deeply in debt, it’s easy to become so overwhelmed by your financial mess that you start to go into denial about just how much you owe: You stop looking at your credit card and bank statements, you don’t answer the phone anymore so you don’t have to deal with debt collectors, you leave your bills unopened because you know (more…)

Popularity: 3% [?]