Tag Archives: Credit card debt

Good on ya! Consumers continue to pay off debt

November 30, 2010 – 3:53 pm

by Hans Eisenbeis WHAT’S HAPPENING Declines in consumer debt during the Great Recession (and ersatz recovery) have been accelerated by foreclosures because a mortgage is a big piece of debt that no longer burdens an evicted homeowner. But a November 2010 report by the Fed shows that unsecured, revolving credit debt — that is, primarily […]

By Iconoculture | Posted in Consumer Trend, Money/Spending | Also tagged , , , , , | Comments Off

The new bill-paying hierarchy: Credit cards first, mortgage last

February 19, 2010 – 6:11 am

by Hans Eisenbeis WHAT’S HAPPENING For decades, consumers typically paid off their debts in a predictable way: Each month, they paid secured obligations first, and then worried about making their credit card payments. But that tradition got turned on its head at the outset of the Great Recession, and the trend has continued and strengthened […]

By Iconoculture | Posted in Consumer Trend, Money/Spending | Also tagged , , , , , , | Comments Off
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