Experts Available to Discuss Consumers Borrowing on Credit Cards.ExpertSource: TOPIC: The Federal Reserve reported that consumers borrowed more on their credit cards in May, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. an article by The Associated Press Associated Press: see news agency. Associated Press (AP) Cooperative news agency, the oldest and largest in the U.S. and long the largest in the world. . Consumer credit increased at an annual rate of 3.6 percent in May. Revolving credit Revolving Credit A line of credit where the customer pays a commitment fee and is then allowed to use the funds when they are needed. It is usually used for operating purposes, fluctuating each month depending on the customers current cash flow needs. grew at 7.1 percent during May. The increase added $7.8 billion to total consumer debt, which is now $2.57 trillion. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Clarky Davis, of CareOne, has more than five years of experience in the debt management industry and more than 10 years of hard-won personal experience with credit cards and debit cards. The money saving tips the Debt Diva offers have all been tested and proven by the glamorous girl herself. Davis now offers these hard-won insights to others seeking to maximize their tight budgets and deal with debt. As this article shows, Americans are on a spending spree Noun 1. spending spree - a brief period of extravagant spending spree, fling - a brief indulgence of your impulses . Historic trends show consumption has grown faster than income. The average American household has more than $9,000 in credit card debt Credit card debt is an example of unsecured consumer debt, accessed through ISO 7810 plastic credit cards. Debt results when a client of a credit card company purchases an item or service through the card system. . "We assume debt is part of our lifestyle," says Davis. "It's time It's Time was a successful political campaign run by the Australian Labor Party (ALP) under Gough Whitlam at the 1972 election in Australia. Campaigning on the perceived need for change after 23 years of conservative (Liberal Party of Australia) government, Labor put forward a to make a big change in how we live." Davis offers tons of tips on how to make this change at her website, TheDebtDiva.com. The Debt Diva's Financial Guide is available as a free download at http://www.thedebtdiva.com . The site is a resource for financial planning Financial planning Evaluating the investing and financing options available to a firm. Planning includes attempting to make optimal decisions, projecting the consequences of these decisions for the firm in the form of a financial plan, and then comparing future performance against . It includes the Debt Diva blog with tips, a Straight Talk community discussion forum and links to a variety of debt management services provided by CareOne. PR Contact: Stephanie Skordas 336-553-1803 sskordas@rlfcommunications.com Vickie C. Mauldin is Executive Director of a foundation specializing in financial literacy Financial literacy is the ability of individuals to make appropriate decisions in managing their personal finances. Raising levels of financial literacy is now a focus of government programmes in countries including[1] Australia, Japan, the United States and the UK. . First Command Educational Foundation has spoken to more than 40,000 persons in the last two years on more than 30 different financial topics having to do with money management and the wise use of credit. Her foundation has created a 12-chapter curriculum for personal financial literacy approved by Texas State Board of Education and is Texas Education Agency-approved for Continuing Education Unit continuing education unit (CEU), n educational classes or experiences for licensed dental professionals that extend, update, or renew their knowledge of practices in their field. Some classes may be required for relicensing. training for educators. The foundation has distributed more than $3.5 million in scholarships. PR Contact: Mary Rusnak 817-569-2634 mbrusnak@firstcommand.org As president of the Consumer Credit Counseling Credit counseling (known in the United Kingdom as debt counselling) is a process offering education to consumers about how to avoid incurring debts that cannot be repaid. This process is actually more debt counseling than a function of credit education. Service of Delaware Valley (Philadelphia region) since 1998, Patricia Hasson is committed to helping improve the financial position of low income households through financial counseling and education. Working one-on-one with consumers who are seeking to improve their financial situation, Patty is an expert on consumer debt and savings trends as well as other financial issues such as bankruptcy reform and its impact on the consumer. She is a frequent keynote speaker at industry events and is often quoted by local media. Prior to joining CCCSDV, Patty spent more than 12 years as a banking executive with diverse experience in consumer and commercial lending. PR Contact: Maureen Keown 215-563-5665 x3338 mkeown@cccsdv.org ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/. |
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