Earlier this year, while discussing the state of the U.S. economy, a top economic advisor to President Trump said that “credit card spending is through the roof.” The director of the National Economic Council added that Americans are “spending more on gasoline, but...
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Credit Card Debt
Do you still owe on a credit card if you cancel it?
Yes, even if you cancel a credit card or close the account, you are still responsible for any charges on that card. For example, perhaps you initially applied for a credit card for convenience. But over time, the high interest rates really began to impact your budget....
Which age group owes the most credit card debt?
When it comes to credit card debt, most Americans have at least some balances on account. It’s almost a necessity to have credit cards now. And with the rising gas and consumer prices, it’s hard for folks to make ends meet without putting some of their debts on their...
Can credit card debt affect your ability to rent an apartment?
When you apply for an apartment, landlords often review your credit report to see how you manage money. If you have credit card debt, you might wonder if it will stop you from getting approved. While debt alone doesn’t automatically disqualify you, how you handle it...
What happens if you stop paying your credit card bills?
Falling behind on credit card payments can happen faster than you think. Missing a payment or two might not seem like a big deal at first, but the consequences add up quickly. In Oregon, ignoring your credit card bills can lead to serious financial and legal trouble...
Will credit card autopay mistakes hurt credit?
Autopay is a convenient tool for managing credit card payments. However, if a mistake occurs with autopay, it can have a negative impact on your credit score. Understanding the potential consequences and how to avoid them can help protect your financial health. How...
How do credit card companies calculate interest on unpaid debt?
Understanding how credit card companies calculate interest on unpaid debt is key to managing your finances. When you carry a balance, interest charges can add up quickly. Here's a breakdown of how interest works and what factors affect how much you’ll pay. What is the...
Can Oregon creditors garnish wages for credit card debt?
Dealing with credit card debt can feel overwhelming. One common concern is whether creditors can take your wages to repay the debt. Understanding Oregon’s laws can help you see what to expect if you owe money on credit cards. Wage garnishment basics in Oregon...
What are your options if you’re overwhelmed by credit card debt?
Credit card debt can quickly spiral out of control, leaving you feeling trapped. It’s easy to fall behind on payments, and before you know it, the debt becomes unmanageable. Fortunately, you have several options to address the situation, each with its own benefits and...
What will credit card companies do when you file for bankruptcy?
Filing for bankruptcy can bring new opportunities for rebuilding your financial situation. However, it can also bring significant changes to how credit card companies handle your accounts. Understanding what to expect during and after bankruptcy can help you prepare...
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The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.