Reported 1 day ago
Despite a 2% drop in credit card debt reported by the Federal Reserve Bank of New York, experts, including Bankrate's Ted Rossman, urge caution. They highlight the potential economic stress indicated by persistently high revolving debt levels and the ongoing spike in household debt, particularly from student loans. While some Americans are managing to pay off their balances, many are still struggling with high-interest rates, leading to increased demand for credit counseling services.
Source: YAHOO