Credit card debt still big problem

| Print |  Email
Must Reads
Monday, June 04, 2012

Americans have been successful at escaping some debt, but credit card debt is still a major problem.

Low- and middle-income people are finding an escape difficult as they pay interest on top of interest. Forty percent have turned to their credit cards to cover basic living expenses such as rent, mortgage bills, groceries and utilities, according to a national survey by think tank Demos. Those surveyed were low- and middle-income people who carried a balance on their credit cards for at least three months.

Now, the average debt on cards held by low- and middle-income people is $7,145, compared with $9,887 in 2008, according to the survey.

Read more at The Register Guard.

{biztweet}credit debt{/biztweet}

 

More Articles

Storyteller in Chief: Natural Prophets

July/August 2015
Monday, July 13, 2015
BY SAM BLACKMAN

Storyteller-in-chief with the CEO and co-founder of Elemental Technologies.


Read more...

Modern design defines new Portland indoor market

The Latest
Thursday, June 25, 2015
thumbSnøhetta JBPM exterior www mir noBY KIM MOORE | RESEARCH EDITOR

An international architecture firm known for its design of the National September 11 Memorial Museum Pavilion in New York unveiled its plan this week for a modern indoor/outdoor food market at the foot of the Morrison Bridge in downtown Portland.


Read more...

Brain Storm

July/August 2015
Monday, July 13, 2015
BY CAMILLE GRIGSBY-ROCCA

Can the brave new world of neurotechnology help an OHSU surgeon find a cure for obesity?


Read more...

Reader Input: Fair Play

May 2015
Wednesday, July 15, 2015

Former Governor John Kitzhaber's resignation in February prompted some soul searching in this state about ethical behavior in industry and government.


Read more...

Portland’s long-distance bike commuters

The Latest
Wednesday, July 29, 2015
Matt KellyresizethumbBY KIM MOORE | RESEARCH EDITOR

Pushing the extreme.


Read more...

Reader Input: Rx for Health Care

July/August 2015
Wednesday, July 15, 2015

We asked readers how Obamacare has impacted their business.


Read more...

Farm in a Box

July/August 2015
Friday, July 10, 2015
BY JACOB PALMER

Most of the food Americans consume is trucked in from hundreds of miles away. Eric Wilson, co-founder and CEO of Gro-volution, wants to change that. So this past spring, the Air Force veteran and former greenhouse manager started work on an alternative farming system he claims is more efficient than conventional agriculture, and also shortens the distance between the consumer and the farm.


Read more...
Oregon Business magazinetitle-sponsored-links-02
SPONSORED LINKS