CALL FOR A FREE
INITIAL CONSULTATION
813.254.5696

BRIDGING YOU TO A BRIGHTER FUTURE

More credit card debt info is being put on credit reports

Florida consumers may be surprised to learn that in the last year, the three credit bureaus have starting adding payment histories to credit reports. They are doing so in an effort to give lenders a better picture of a consumer's credit card debt. For now, this information is not affecting a person's credit score, but that could change in the coming years.

Consumers are basically separated into two categories -- revolvers and transactors. Revolvers are consumers that carry a balance from month to month on their credit card debt. Transactors are consumers that pay off their credit cards at the end of each month.

Credit bureaus claim this information will help credit card companies better tailor their credit offers to individuals. The information can also be used to provide additional information regarding a consumer's credit risk. Obviously, the less the credit risk, the better the offer a consumer will receive.

There are some, however, who believe this information could be used against some consumers. For instance, consumers that pay off their balances at the end of each month could be assessed fees in lieu of interest charges. It may take some time before the true value of the information is known.

This information may be helpful for people who are in control of their credit card debt, but it does nothing for people that struggle with their debt each month. Most Florida consumers have every intention of paying their debts, but sometimes, life's circumstances make it simply impossible. Filing for bankruptcy protection can help alleviate the burden and stress that overwhelming amounts of debt can cause. If the debts are discharged, the filer will have a clean slate with which to move forward and rebuild his or her financial life.

Source: post-gazette.com, Credit bureaus taking closer look at how you use your credit card, Patricia Sabatini, Oct. 31, 2013

 

When it comes to Florida credit card debt, is youn...
Private student loans lead to bankruptcy for Flori...

Related Posts

Contact Us

First Name

Invalid Input
Zip Code

Invalid Input
Last Name

Invalid Input
Phone

Invalid Input
Email

Invalid Input
Case Details

Invalid Input
Security Code *

Invalid Input



For The Next 5 Days Get A Free Book About Bankruptcy



Contact Us For
More Information

Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney


 Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney
Creditor Harassment - Robert Geller Tampa Bankruptcy Attorney

 Tampa Bankruptcy Attorney Robert Geller Lawyer Profile
Tampa Bankruptcy Attorney Robert Geller Lawyer Profile

 Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer
Chapter 7 Bankruptcy in Tampa - Robert Geller Bankruptcy Lawyer

 Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney
Chapter 13 Bankruptcy Lawyer in Tampa, FL, Robert M. Geller Attorney
 
  
 
comodo

We are A Debt Relief Agency.
We help people file for
bankruptcy under the Bankruptcy Code

Pay Online    

Office Locations

Law Offices of Robert M. Geller, P.A.
807 West Azeele Street
Tampa, FL 33606
T: (813) 254-5696
T: (800) 853-7549
F: (813) 253-3405
Maps & Directions


Tampa Law Office Map

Satellite Office

Law Offices of Robert M. Geller, P.A.
125 5th Street South
(Wells Fargo Financial Center)
2nd Floor, Suite G

St. Petersburg, FL 33701
T: 727-532-3939
Maps & Directions


Map and Directions

At the Tampa Bay law firm, the Law Offices of Robert M. Geller, P.A., we help people with consumer bankruptcy matters in the Tampa Bay-St. Petersburg,  Florida communities such as Clearwater, St. Petersburg, Thonotosassa, Riverview, Lutz, Plant City, Brandon, Carrollwood, Wesley Chapel, St. Petersburg Beach, Lakeland, Mulberry, Dade City, Pinellas Park, Largo, Seminole, Odessa, Oldsmar and Lithia, and counties such as Hillsborough County, Pinellas County, Pasco County, Polk County and Manatee County.