The many types of credit available to Americans may cause some people to spend beyond their limits. Credit card debt is a very real concern for many families, and working to reduce debts require a firm grasp of current financial factors as well as emerging market concerns.

Our readers in Jackson may be interested in a recent national news story regarding credit card delinquencies. Analysts at Fitch Ratings noted a recent rise in credit card delinquency rates for the first time in 2012. Delinquencies greater than 60 days overdue saw a slight increase during October. Citi and Capitol One, popular players in the credit card market, were both affected by a period of sell-off as a result of concerned investors during November.

Additional concerns included the possible lasting effects of Hurricane Sandy on the economy and financial status of many in the country’s northeast. Capitol One had experience an overall good year until account charge-offs rose in October, with a stock increase of over 30 percent up until that point. Charge-offs across all major lenders had dropped to the lowest level since 2007.

Those seeking to enter negotiation with credit card companies or other debtors should strive to learn all they can about their rights and responsibilities under the law. Many different companies have differing processes for negotiation on outstanding debts or rules for issuing cards to new debtors.

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