debt

Debt is an obligation that requires one party, the debtor, to pay money or other agreed-upon value to another party, the creditor. Debt is a deferred payment, or series of payments, which differentiates it from an immediate purchase.

Source: en.wikipedia.org

CFPB: Annual Consumer Spending on Credit Cards Hit $3.2 Trillion in 2022
CFPB: Annual Consumer Spending on Credit Cards Hit $3.2 Trillion in 2022
October 25, 2023  |  Debt

Consumers have been racking up credit card debt in the time since pandemic-era relief programs ended. Total outstanding credit card debt topped $1 trillion at...

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Report: Twitter Debt Could Come Back to Bite Banks
Report: Twitter Debt Could Come Back to Bite Banks
October 25, 2023  |  Debt

It’s been nearly a year since seven banking giants helped Elon Musk buy Twitter. Now, those lenders are dealing with the impact of that decision on...

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Earnest and Payitoff Partner on Reduced Student Loan Payments
Earnest and Payitoff Partner on Reduced Student Loan Payments
October 23, 2023  |  Loans

Student finance FinTech Earnest and debt guidance firm Payitoff have teamed to help borrowers lower student loan payments. The two companies on Monday (Oct. 26) announced the launch of their...

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New Report Finds the Average Consumer Is Overdrawn for 9 Days
New Report Finds the Average Consumer Is Overdrawn for 9 Days
October 12, 2023  |  Consumer Finance

Present economic and financial challenges have compelled individuals from various income brackets and credit backgrounds to resort to overdrafts — a form of credit whereby...

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‘Candid Conversations’ and Credit Building Help Consumers Survive the Paycheck-to-Paycheck Economy
‘Candid Conversations’ and Credit Building Help Consumers Survive the Paycheck-to-Paycheck Economy
October 11, 2023  |  Financial Inclusion

The U.S. consumer is barely making ends meet and is one emergency expense away from financial dire straits. They’re also in need of financial education...

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LendingClub: Consumers Need a Plan to Avoid the Holiday Revolving Debt Cycle
LendingClub: Consumers Need a Plan to Avoid the Holiday Revolving Debt Cycle
October 11, 2023  |  Consumer Finance

The holidays are firmly in sight. LendingClub Senior Vice President of Membership and Lifecycle Strategy Amber Carroll said that as inflation remains entrenched, as we...

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Research Links Quick Access to Digital Loans to Higher Default Rates
Research Links Quick Access to Digital Loans to Higher Default Rates
October 10, 2023  |  Loans

Technology broadened the lending landscape, making it easier for previously underserved populations to receive money with a speediness that would be otherwise unimaginable were it...

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Trouble May Be Brewing for Store Card Segment as Delinquencies Rise
Trouble May Be Brewing for Store Card Segment as Delinquencies Rise
October 09, 2023  |  Credit Cards

Store credit cards — the closed-looped offerings tied to certain merchants — may signal tougher times ahead. The rising costs of credit and the rising...

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More Than Half of Main Street SMBs Have ‘No Access’ to Credit
More Than Half of Main Street SMBs Have ‘No Access’ to Credit
October 06, 2023  |  SMBs

Small- to medium-sized businesses (SMBs) on Main Street are finding a dearth of options when it comes to getting the money they need to stay...

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