Sentences with phrase «amount of consumer debt»

If you are carrying any high interest debt, or have a significant amount of consumer debt (not mortgage debt), then you might have a low ability to take risk.

Starting today on Trees Full of Money I'm featuring a series of personal finance case studies to help readers visualize the process my family and I used to pay off a large amount of consumer debt a few years back.

It wasn't until my wife and I sat down one day and took a hard look at why didn't have any money left over at the end of the month that we truly became motivated to start digging ourselves out of a large amount of consumer debt.

This is the total amount of consumer debt you owe, divided by your available credit.

Individuals who face an overwhelming amount of consumer debt may have some recourse through bankruptcy protections made available through federal law.

This motivation is very important, especially if you're working through a large amount of consumer debt like we were.

Most people who end up with a significant amount of consumer debt didn't accumulate that debt overnight.

It's a challenge for Canadians still struggling to cope with the record amounts of consumer debt they amassed after the 2008 financial crisis because lenders use their prime rate as a benchmark for setting some other short - term rates including variable - rate mortgages and lines of credit.

Why are people going into such large amounts of consumer debt?

I definitely agree about the travel, but I have a few rules I've instituted to keep myself from sliding back into the crazy amounts of consumer debt I once had: 1.

Not exact matches

Known as debt settlement, it's a process by which consumers stop paying unsecured creditors, wait months or even years until creditors have given up hope of collecting, then offer to settle outstanding balances for mere fractions of the amounts owing.

c) the amount of money that the consumer must owe or the percentage of each of the consumer's debts that must be outstanding before the operator will initiate attempts with the creditors of the consumer or their debt collectors to negotiate, settle or modify the terms of the consumer's debts;

While student loan debt currently is difficult to discharge in bankruptcy — you must prove undue hardship — most other consumer debt is fair game for either eliminating or negotiating a lower payback amount, depending on the specifics of your case.

A federal appeals court has affirmed four lower court judgments that debt collector Portfolio Recovery Associates violated federal law by failing to report to credit bureaus when consumers disputed the amount of debt they supposedly owed.

«The drop in the participation rate has been centered on younger workers,» said Mr. Shapiro, «many of whom have given up hope of finding a decent job and are instead continuing in school and racking up enormous amounts of student debt, which has contributed to the recent surge in consumer credit outstanding.»

«At a time when consumers are carrying record amounts of debt, the persistence of HELOC debt may add stress to the financial well - being of Canadian households.

In addition, it can encourage consumers to add to their debt load, which could put stress on Canadian households, at a time when they are carrying record amounts of debt.

For consumers with a large amount of debt on revolving lines of credit, such as credit cards, a loan can also help them pay back that debt on a set schedule.

According to Consumer Reports, these companies ask for the fees upfront, and they can be up to 15 % of the total amount of the debt.

Examples of these risks, uncertainties and other factors include, but are not limited to the impact of: adverse general economic and related factors, such as fluctuating or increasing levels of unemployment, underemployment and the volatility of fuel prices, declines in the securities and real estate markets, and perceptions of these conditions that decrease the level of disposable income of consumers or consumer confidence; adverse events impacting the security of travel, such as terrorist acts, armed conflict and threats thereof, acts of piracy, and other international events; the risks and increased costs associated with operating internationally; our expansion into and investments in new markets; breaches in data security or other disturbances to our information technology and other networks; the spread of epidemics and viral outbreaks; adverse incidents involving cruise ships; changes in fuel prices and / or other cruise operating costs; any impairment of our tradenames or goodwill; our hedging strategies; our inability to obtain adequate insurance coverage; our substantial indebtedness, including the ability to raise additional capital to fund our operations, and to generate the necessary amount of cash to service our existing debt; restrictions in the agreements governing our indebtedness that limit our flexibility in operating our business; the significant portion of our assets pledged as collateral under our existing debt agreements and the ability of our creditors to accelerate the repayment of our indebtedness; volatility and disruptions in the global credit and financial markets, which may adversely affect our ability to borrow and could increase our counterparty credit risks, including those under our credit facilities, derivatives, contingent obligations, insurance contracts and new ship progress payment guarantees; fluctuations in foreign currency exchange rates; overcapacity in key markets or globally; our inability to recruit or retain qualified personnel or the loss of key personnel; future changes relating to how external distribution channels sell and market our cruises; our reliance on third parties to provide hotel management services to certain ships and certain other services; delays in our shipbuilding program and ship repairs, maintenance and refurbishments; future increases in the price of, or major changes or reduction in, commercial airline services; seasonal variations in passenger fare rates and occupancy levels at different times of the year; our ability to keep pace with developments in technology; amendments to our collective bargaining agreements for crew members and other employee relation issues; the continued availability of attractive port destinations; pending or threatened litigation, investigations and enforcement actions; changes involving the tax and environmental regulatory regimes in which we operate; and other factors set forth under «Risk Factors» in our most recently filed Annual Report on Form 10 - K and subsequent filings by the Company with the Securities and Exchange Commission.

Aggressive attempts to invalidate a debt include massive amounts of paperwork and documents, filled with line after line of legal items being requested, many counter responses and follow - ups and it can be an extremely time consuming and complex process, but the results are your consumer rights being protected and a tremendous amount of money can be saved by avoiding debt settlement if possible.

An individual's value to his creditors at time of filing a consumer proposal comprises his assets valued at liquidation (auction) pricing (that may be a garage sale for your furniture and household goods, the wholesale cash buyer for your car, or the pawnbroker for your jewellery) after deducting exemption in prescribed, legislated amount (s) for car, household goods, clothing, tools of the trade, medical aids, home, life insurance, pensions, RRSP, etc., which amounts to little or nothing for the large majority of us, less than our debt in any case.

According to the survey of 1,100 Canadian consumers, 88 % indicated that they more often pay a greater amount than their minimum due on revolving debts each month.

Yet they try to collect the full amount from consumers or will be «generous» as they «want to help you», and will offer a 50 % discount off of the old delinquent debt they bought for 5 % on the dollar.

The average amount of credit card debt consumers need to deal with can also be indicative of their overall credit health.

Debt settlement or debt negotiation is the preferred financial debt solution by many consumers due to it being the fastest way to pay off their debt, while saving the most amount of moDebt settlement or debt negotiation is the preferred financial debt solution by many consumers due to it being the fastest way to pay off their debt, while saving the most amount of modebt negotiation is the preferred financial debt solution by many consumers due to it being the fastest way to pay off their debt, while saving the most amount of modebt solution by many consumers due to it being the fastest way to pay off their debt, while saving the most amount of modebt, while saving the most amount of money.

The Consumer Protection Division of the Attorney General's office also charged that the firm misrepresented the experience of its staff and the amount consumers would save through debt settlement.

Many debt consumers choose to make an agreement with their creditors when the last ones reduce the amount of debt, so that you avoid the bankruptcy and the lender receives at least a part of the borrowed money sum.

The consumer pays the debt (either the full amount or a lesser amount that the creditor agrees to), and the collection agency agrees to erase the record of the account from the consumer's credit report.

Benefits of the consumer debt relief program often include what could end up resulting in a substanial savings on the current amount of debt owe and the ability to become debt free within two years or less.

The average amount of consumer household debt has reached more than $ 16,000.

To the bank, an individual carrying an above - average amount of debt is more likely than other consumers to default on at least one of their credit accounts.

A consumer proposal is for people who are unable to repay the full amount of their debts, but don't want to file personal bankruptcy.

Student loan debt is now the second highest ranked consumer loan debt, next to mortgages, according to the New York Federal Reserve, with the amount of outstanding student loan debt exceeding $ 1 trillion in March of 2012.

Debt - to - credit ratio: Also often referred to as a «credit utilization ratio,» this is the total amount of debt a consumer has accrued versus their total credit allotmDebt - to - credit ratio: Also often referred to as a «credit utilization ratio,» this is the total amount of debt a consumer has accrued versus their total credit allotmdebt a consumer has accrued versus their total credit allotment.

Those who file bankruptcy or a consumer proposal with the highest amount of student debt are between 30 and 39 years of age and have been out of school for more than seven years.

That explains why, according to a report on consumer credit by the Federal Reserve, the total amount of revolving debt owed by U.S. consumers stood at a staggering $ 953.3 billion as of May of 2016.

Part of this change stems from the fact that a large amount of medical debt is paid late by insurers — sometimes the result of slow or faulty administrative processes — but it's the consumer who unfairly shoulders the blame on their credit report.

In the majority of cases, a Consumer Proposal will require you to pay less than the full amount you owe and still get discharged from your debts.

Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fDebt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fdebt amount may increase due to the accumulation of extra fees.

Lenders assign the highest scores to consumers who pose the lowest risks — that is, consumers who consistently pay their bills on time and carry small amounts of debt compared to their overall borrowing capacities.

The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.

A consumer proposal, for example, can help you combine all of your debts into one easy monthly payment, stop interest from accumulating, and often reduce the total amount of debt that you owe.

They point to data from Magnify Money, showing that 125 million consumers have some kind of credit card debt they are dealing with, with the total amount hitting $ 527 billion in the United States.

The type of services covered under the new rules are companies that promise to 1) work with a creditor to settle the debt for a lesser amount than is owed, (debt settlement companies) 2) work with all of a consumer's unsecured creditors to promulgate a debt management plan to vary the terms of all such debts, under a debt management plan (debt management companies) and 3) negotiate with a creditor to lower the interest rate of the outstanding debt and / or waiver of certain debt fees, such as late fees or over the limit fees (debt negotiation companies).

In New York, Robins has found, «The court expects the lawyers to do the same amount of legal work whether the case involves a $ 5,000 consumer credit card debt or a $ 1,000,000 Chapter 11 [business bankruptcy] turnover action.»

The biggest advantages of a Consumer Proposal are that the payments are designed to be affordable, interest is eliminated, and the amount of debt you owe is reduced.

Most Debt Settlement companies will charge a fee that is based on the amount of overall consumer debt you have that you would like to setDebt Settlement companies will charge a fee that is based on the amount of overall consumer debt you have that you would like to setdebt you have that you would like to settle.

You still owe about the same amount of total debt, but the consumer with the six cards at 20 percent or under will have a better credit score.

Don't become the consumer that is drowned in debt paying them an outrageous amount of interest like they want you to be.