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Lawrence Journal World in Lawrence, Kansas

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Newspaper

Lawrence Journal World

Location

Lawrence, Kansas, United States of America

Date

Mar 16, 2008

Page

2

Reliance on credit pushes U.S. consumers to the brink

As of January U.S. consumer debt stood at 2.52 trillion dollars with households averaging 13 credit obligations from store cards to mortgages. Median income sits at 43,200, and typical credit card balances equate to about 5 percent of annual income. Experts warn of a shift from discretionary to essential charges, higher late fees, and tougher repayment terms.

U.S Credit Countaker Baker Housing & Credit Counseling Inc Samira Hussein Johnson County Community College Kansas University Hussein Lawrence John Harper Harper Ameri Visa MasterCard Bob De-Young Ku’s Capitol Federal Financial Markets and Institutions DeYoung Marey Wilkins Peoples Bank Wilkins

When to Declare Bankruptcy and Credit Score Pressures

Landlords employers utilities and insurers weigh credit reports in decisions. A 15 point score drop from 740 to 715 can raise a 200000 mortgage by about 33 monthly, 11800 over 30 years. Bankers cite Fannie Mae and Freddie Mac standards as recent tightening reflections of past lending excess.

Baker Tom Koenig Central National Bank Fannie Mae Freddie Mac

Getting Out Of Debt Advice From Experts

A compilation of debt relief tips from Suze Orman Oprah and agencies. Budget realistically and list all debts, contact creditors for plans, manage secured loans, prioritize high interest balances, close paid cards, cut discretionary spending, seek nonprofit counseling, and stay healthy to cope with debt. Local expert Marciana Vequist notes healthy habits aid budgeting efforts.

Suze Orman Oprah Federal Trade Commission MSN Money Credit ‘Counseling Lawrence Housing and Credit Counseling,inc Marciana Vequist

Also Mentioned on This Page

Christine Metz Thad Allende Journal-World Photo Illustration Beyond T EVOL OETA Kans Maria Butler Washburn Tom Averill Kansas Maria The State Library of Kansas Strong Library Strong Community Lawrencepubliclibrary.org Sleep West 6Th St Sombub
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