Spending and inflation have sent credit card debt soaring to a record high of nearly a trillion dollars, and credit card companies are offering perks to try to get more people to sign up. Javier E. David, a CBS News contributor and the managing editor for business and markets at Axios, joined Vladimir Duthiers and Anne-Marie Green to discuss what customers need to look out for.

#news #economy #inflation

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Credit Matters wins the award for Best LARGE Debt Counsellors 2023! To get out of debt go to www.creditmatters.co.za

Experts are sounding the alarm: the world is caught in a debt trap. The global mountain of debt has increased to more than 300 trillion US dollars. To cancel it out, the Earth’s population would have to work for nothing for three years. Is this a cause for concern?

Will private individuals, companies and even entire nations at some point collapse under the weight of this debt mountain? The film looks for the stories behind the debts to discover what can be done to address the problem. In Argentina, for example: Over the past 200 years, the country has faced bankruptcy eight times.

In the United States, people are punished for their poverty. Annita Husband was detained for months in a debtors’ prison in the state of Mississippi. Her fate is just one extreme example from a society in which more and more people in debt find themselves in a hopeless situation and lose their freedom.

But debts per se aren’t a bad thing, insists economist Christoph Trebesch. Particularly when the borrowed capital is used for sensible investments, debts make sense. But there are plenty of negative stories. One standout example of the credit-fueled hubris is the project “The World”, artificial islands off the coast of Dubai that, seen from the air, resemble a map of the world. Luxury properties built on the islands were designed as resorts for the super-rich. But the project ground to a halt in the financial crisis of 2008. Since then, the wind and the sea have blurred the outlines of some of the islands.

The film explores the question: what are the consequences of debts – for both debtors and creditors? And what sort of solutions might be on hand to deal with the gigantic volume of debt taken on by nations, companies and private households?

#documentary #dwdocumentary
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00:00 Job and income
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Debt consolidation and debt settlement are two common debt management strategies that can lower the amount of interest you owe and help you pay off debt faster and more simply. Lending Nerd, Kate Wood, helps you understand both and gives you important questions to ask yourself to choose the best strategy for you on your debt management journey.

Suggested Resources:
Compare Debt Consolidation Lenders: https://www.nerdwallet.com/best/loans/personal-loans/debt-consolidation-loans
What is Debt Consolidation and Should I Consolidate? https://www.nerdwallet.com/article/loans/personal-loans/what-is-debt-consolidation
What is Debt Settlement and How Does it Work?
https://www.nerdwallet.com/article/loans/personal-loans/how-does-debt-settlement-work
Debt Consolidation vs. Debt Settlement: Which is Better?
https://www.nerdwallet.com/article/loans/personal-loans/debt-consolidation-debt-settlement

Chapters:
#NerdWallet #PersonalFinance #DebtManagement
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Disclaimer: This video is for informational and educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Any comments posted under NerdWallet’s official account videos are not reviewed or endorsed by NerdWallet or representatives of financial institutions affiliated with the reviewed products unless explicitly stated otherwise. Avoid disclosing personal or sensitive information such as bank accounts or phone numbers. NerdWallet employees do not offer personalized financial advice and will not respond to posts here.

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Balance Transfer Card vs Personal Loan: Which Is Best for You? | NerdWallet
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Everything you need to know to choose a credit counseling agency without getting scammed. Need the 1st bankruptcy course? Sign up at https://ccadvising.com

Episode 2230 – December 14th, 2022

????There are two ways that can help you solve your debt, a debt consolidation program or a consumer proposal. Which one would work best for you?

?????We have Stacy Yanchuk Olesky, CEO of Credit Counselling Canada, join us to help explain the difference between the two.

????For more episodes, head over to https://moolala.ca/.

Here are all the best debt consolidation loans and what we like about them. Hope this helps you find the right loans and lender for you.

See if you can get approved. Soft Credit Check. Up to 40 options.
CLICK HERE FOR THE RIGHT PERSONAL LOAN:
https://theyukonproject.com/product-comparison/compare-personal-loans/?swcfpc=1

www.theyukonproject.com
– Soft Credit Check
– Up to 40 results

Best Egg
CitiBank
Happy Money
Sofi
Lending Club
Upgrade

#DebtConsolidation #PersonalLoans #ConsolidateDebt

#MoneyManagement #FinancialFreedom #BudgetingTips

#BestLoans #TopPersonalLoans #DebtHelp

#DebtFreeJourney #SmartFinances #CrushDebt

#FinanceTips #LoanOptions #CreditHealth

Debt review explained in 41 seconds.

DebtSafe – the makers of new beginnings – helping South Africans restore their finances and keep their debt safe.

Joel Grisé is a Certified Credit Counsellor and a Financial Fitness Coach from K3C Credit Counselling – Ottawa which is an Accredited Member Agency of the Canadian Association of Credit Counselling Services. Joel describes what you can expect when you call a CACCS Accredited Not-For-Profit Credit Counselling Agency.