Posts Tagged: third party debt collectors

CREDIT CARD DEBT LAWSUITS AMERICA’S NEXT FINANCIAL CATASTROPHE

Posted & filed under Consumer.

In 2003, Americans were carrying 1.46 billion credit cards, for an average of five credit cards person.[1]  By 2009, outstanding consumer loans exceeded $2.5 trillion, of which debt from credit cards and other revolving credit card debt was nearly $1 trillion at its peak, with subprime credit cards constituting more than a quarter of the… Read more »