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Good Credit? Bad Debt Management?

Good Credit? Bad Debt Management? (NewsUSA) – It’s a widely-held misconception that those with good credit have a better grasp of managing their finances. In a recent consumer survey from Marcus by Goldman Sachs®*, 34 percent of consumers with good credit (FICO 660 and above) are in credit card debt and 41 percent view credit card debt as an area they wished they had more control over. Even those with good or excellent credit — a score of 660 FICO or above — can be prone to the cycle of high-interest credit card debt that includes variable interest rates and hidden fees. It’s enough to make anyone feel like debt resolution is out of reach.For most of the population, it’s much easier to get into debt than it is to get out of it. According to NerdWallet’s 2016 American Household Credit Card Debt Study, the average household with credit card debt has balances totaling $16,748**. Everyday expenses and unexpected costs like braces for the kids, a leaky roof or a hot water heater breaking can affect everyone. For many, it’s easy to fall behind and resort to high-interest credit cards as a solution. Debt, particularly credit card debt, can be deeply stressful for people carrying a seemingly endless balance month over month. This stress, combined with the deep-rooted stigma around talking about credit card debt, leaves many people feeling like they have limited options to help them better manage their finances.The consumer survey by Marcus by Goldman Sachs also uncovered surprising numbers surrounding the struggles Americans with good credit have with credit card debt. Many are unaware of alternative options that can help address their credit card debt and turn to increasingly desperate measures for assistance. Thirty-four percent would consider selling off household items to help with payments and 38 percent would consider turning to a second job.However, there are other solutions that can help eliminate the revolving cycle of credit card debt.One viable alternative is a fixed-rate, no fee personal loan, available from Marcus by Goldman Sachs. Loans range from $3,500 to $30,000 to eligible consumers with good or excellent credit (FICO 660 and above). Loan terms range for three to six years and interest rates range from 6.99 percent to 23.99 percent.Marcus offers U.S.-based dedicated loan specialists who deliver live, personalized support. On Marcus.com you can also find a savings calculator to help you estimate your savings over high-interest variable credit card debt without affecting your credit score.So, explore your debt management options — whether you want to consolidate debt, or simply need a loan that works for you.*The Marcus by Goldman Sachs Debt Survey was conducted between November 9 and November 16, 2016 among 1,000 nationally representative Americans ages 22 and over, using an e-mail invitation and an online survey.**NerdWallet’s 2016 American Household Credit Card Debt Study is based on data from the Federal Reserve Bank of New York and the Census Bureau.

Local News

Angel Williams, of South Carolina, enjoyed being able to phone home to his mom and his fiancé. (Photos by Steve Metsch)

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Screen Shot 2022-11-30 at 1.57.20 PM

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Clear-Ridge Reporter and NewsHound November 30, 2022

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Angel Williams, of South Carolina, enjoyed being able to phone home to his mom and his fiancé. (Photos by Steve Metsch)

Brookfield VFW Post gives 45 Navy recruits a happy Thanksgiving Day

By Steve Metsch It had been about three months since Brittney Rodriguez sat down to enjoy a home-cooked meal. It’s not that the food is terrible at the Great Lakes Recruit Training Center in North Chicago, Rodriguez said. It’s just not as good as Mom’s cooking. “They have their days, but it’s not a home-cooked…

Team captain Zach Hayes holds the trophy as Coach Tim Racki and the Roadrunners celebrate the school’s fourth state football championship in nine seasons, and first since 2018. (Photos by Steve Metsch)

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By Steve Metsch Two huge cheers rocked the Rooney Student Center at Nazareth Academy in La Grange Park late Monday morning. The first was when Zach Hayes – joined by the coaches and teammates – walked in carrying the IHSA Class 5A state football championship trophy high over his head. The second was when school…

Members of Orland Park's Dance Company dance during Sunday's holiday parade. (Photos by Jeff Vorva)

Orland Park gets in the holiday spirit with parade and tree lighting

By Jeff Vorva The Village of Orland Park’s lighting of the Christmas tree ceremony has been going on for decades, but its holiday parade just completed its sophomore run. The second holiday parade kicked off the festivities on Sunday followed by Mayor Keith Pekau and a group of children pulling the switch to not only…

bridgeview police logo - Copy

Pedestrian, 70, hit by car, dies crossing Harlem Avenue in Bridgeview

By Steve Metsch A 70-year-old Bridgeview man died after he was hit by a car at 6:45 p.m. Monday in the 8100 block of South Harlem Avenue, Police Chief Ricardo Mancha said. The man identified as Brian Callaghan was walking from the east side of Harlem to the west, Mancha said. Callaghan lived at Moraine…

Screen Shot 2022-11-30 at 1.57.20 PM

A Thanksgiving surprise

The kindergarteners at St. Daniel the Prophet School had a surprise visitor earlier this month–known to them as Army National Guard Sergeant Bryan Dudycha. But one student in the class knows him as Daddy; and when she saw him, Madison leapt into his arms, gleeful over his return from deployment, just in time for Thanksgiving.…

SRP-IMAGE-Logo

Clear-Ridge Reporter and NewsHound November 30, 2022

Mary Stanek

Hang out your socks for St. Nick

By Mary Stanek Your correspondent in Archer Heights and West Elsdon 3808 W. 57th Place • (773) 284-7394 Hang out those socks on the night of Monday, Dec. 5. St. Nicholas day is here on Tuesday, Dec. 6. St. Nick was known for selling all of his possessions and giving to the poor. He may…

Kathy Headley

Thanksgiving was fun, and delicious

By Kathy Headley Your correspondent in Chicago Lawn and Marquette Manor 6610 S. Francisco • (773) 776-7778 Hope your Thanksgiving was as fun and happy as ours. As always, the aroma and taste of home cooking and holiday desserts were a big part of the day. I feel comfortable telling you where we picked up…

CRRNH_SweetSaluteRhineVFW_112322

A sweet salute to veterans

Rhine VFW Post 2729 members William Haas and Jerry Dipasquale survey some of the bags of candy, pastries and other treats given to the post earlier this month by the students of Sahs School in Central Stickney. The Sahs boys and girls also wrote personal letters and made patriotic posters expressing their thanks and appreciation…

Summit Trustee Aleco Julius (from left), Summit Trustee Sam Dardovski, Summit Fire Captain Anthony Anderson, Summit Police Chief Mel Ortiz, Summit Mayor Sergio Rodriguez stand in front of the village Christmas tree. (Photo by Carol McGowan)

Summit lights Christmas tree, holds last Neighborhood Watch for the year

By Carol McGowan Summit officials and residents were on hand November 17 for the lighting of the village Christmas tree in front of the police station on Archer Road. In what’s become an annual event the last couple of years, the tree is lit before the last Neighborhood Watch meeting for the year. There is…

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