The average American carries $5,100 in credit card debt and many think eliminating that debt is impossible. But as many in the Bay area have discovered, living debt free starts with a simple phone call.
College seniors are graduating with an average credit card balance of $4,100 ⬜ up from about $2,900 in 2004 ⬜ and much of that debt is directly related to their education expenses, according to a survey from SLM Corp. (SLM)
Think of it as an online version of "Dear Abby" for consumers with credit card debt questions. If you have a question- ask it here. Tuesday morning on 10 Connects New This Morning - we'll have an expert on to answer your questions.
The first phase of the landmark Credit Card Accountability Responsibility and Disclosure Act of 2009 went into effect Thursday, requiring credit card companies to make several changes on consumer credit cards. (COF)
In the most sweeping changes to the credit card industry in 40 years, President Obama is expected to sign a bill Friday to restrict practices that consumers say have pushed them deeper into debt.
In exchange for $700, Myrna claims Alpha Consultants told her they would consolidate her debt at a lower interest. Myrna says all she got for her money was another credit card.
