Credit card bills often go unpaid first

Credit card bills often go unpaid first

There are 7 comments on the The Tennessean story from Feb 4, 2008, titled Credit card bills often go unpaid first. In it, The Tennessean reports that:

“If they can't pay their bills, they can't pay their interest.”

An increasing number of people are living close to the edge. Many are employed but have little, if any, savings. via The Tennessean

Join the discussion below, or Read more at The Tennessean.

Tom kubik

Royston, GA

#1 Feb 4, 2008
That is very true the average credit debt in the usa in 2008 is 9000 dollars and 60% of peolpe dont pay there credit card balance off they pay the minimum and that poison for your pocket book
By doin that your making citi bank captial one rich ETC..

Since: Jan 08

Royston, GA

#2 Feb 4, 2008
Average usa credit card debt is 9000 and that no good.. most peolpe are not saving for there retirement and living way above there means

Since: Feb 08


#3 Feb 4, 2008
Yes, it's a very realistic picture the credit system is going to undergo a very strong pressure but it shouldn't be too long though, one or two years and it'd better be it. People will be employed again and we'll start a new cycle for the possibly a even bigger financial market crash.

Since: Feb 08

Bagong Tanyag, Philippines

#4 Mar 5, 2008
it's alarming that the number is rising. a lot of people hardly have anything on paper and have rising credit card debt.

United States

#5 Mar 6, 2008
You idiots are missing what is really happening in this country. Our financial institutions are sucking up to terrorist money like they did with HITLER AND THE BOLSHEIVEKS and they support OBAMA.

Follow the money nitwits to DUBAI and the Middle East.That's who is controlling this country!

This appeared on Business week website.

US Financial Institutions catering to terrorists in the mideast.
They call it "Islamic Banking" and they don't charge interest on loans to muslins/islamics!
Yet American's are losing their homes due to high mortgage interest!

From Jakarta to Jeddah, 265 Islamic banks and other financial institutions are now operating in some 40 countries, with total assets that top $262 billion, according to organizers of the International Islamic Finance Forum, a semi-annual industry conference. That pot of money, the investment of which adheres to the Koran's prohibition against receiving or paying interest, has been steadily building since 1994, when Malaysia created the world's first Islamic interbank money market. Now Islamic banking has broadened its appeal well beyond the confines of faithful Muslims. Indeed, nearly one-quarter of all Islamic banking business in Malaysia is being transacted by non-Muslims.

Islamic finance was long the preserve of specialty banks that handled shariah-compliant products exclusively, such as Malaysia's top-ranked Bank Islam and Saudi Arabia's Al Rajhi Banking & Investment Corp.

But Western banks, no longer content to leave the market to Islamic lenders, are competing for a slice of the business. Two years ago, Citigroup (C ) began providing Islamic mortgages in Malaysia and has begun training staffers in Indonesia and Pakistan to offer them there. It also provides Islamic mortgages in Middle Eastern countries such as the United Arab Emirates. HSBC operates Islamic banking services all over the Arab world, and they now make up about 10% of its business in Malaysia. UBS, the world's top player in wealth management, set up a stand-alone Islamic private bank last year in Dubai to cater to its wealthiest Middle Eastern clients. And no wonder. Assets held by Muslims, led by Gulf Arabs, in all banks -- Islamic and otherwise -- are estimated at $1.5 trillion and are growing 15% a year, in large part because of high oil prices.

Behind the rapid growth in shariah-compliant investments are the development of new regulations and standards for Islamic financial services in the past few years. There's also much more awareness of Islamic financial alternatives in the Muslim world than ever before, thanks to stepped-up marketing by banks. Some Western lenders are even rolling out Islamic financial products in their home markets. Lloyds TSB Bank PLC (LYG ), Britain's fourth-largest, recently introduced Islamic mortgage products to cater to Britain's 2.5 million Muslims. "The biggest explosion [in growth] right now is in Islamic consumer banking and investment products," says Mohsin Nathani, Citigroup's Bahrain-based global head of Islamic banking.

What all Islamic financial products share is the absence of interest -- either assessed or paid. Instead, the investments are set up as leasing arrangements or investments in which money is turned over to third-party trustees who share profits with Islamic depositors.

All major US Financial institutions are involved-Citibank, Merril Lynch, Goldman Sachs and more...

London, UK

#8 Mar 26, 2014
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Since: Nov 12

Quezon City, Philippines

#9 Apr 10, 2014
nice thread. thanks for sharing that information. it was very informative.
[url= m/credit-education/credit-topi cs/top-credit-repair.asp]Top Credit Repair[/url]

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