Humberto Cruz in an article on the boston.com site had the foll. to say about credit card debt in 2008.

Consumers, who, of course, never charge for purchases they can’t afford, will pay off all their holiday credit card bills in January.

That would be quite a change from this year. According to a nationwide survey by Fort Lauderdale, Fla.-based Consolidated Credit Counseling Services in November, 319 of 974 people who answered the question said they were still paying off holiday debt from 2006. (And 26 people skipped the question.) Of those 974 people, only 39, or 4 percent, expected to pay this year’s credit card bills right away, and 59, or 6 percent, expected it would take them as much as a year.

You can read the complete article at http://www.boston.com/business/personalfinance/articles/2008/01/09/
in_08_taxes_are_again_inevitable_but_credit_card_debt_doesnt_
have_to_be/

This entry was posted on Saturday, January 12th, 2008 at 1:50 am and is filed under Bad Credit Credit Cards. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.