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Charles Phelan

Contributor |  In Credit Cards, Mortgages

Charles Phelan is a former executive in the debt settlement industry and a debt coach who helps people get out of debt without bankruptcy. He teaches do-it-yourself debt negotiation at ZipDebt.com, and provides consultations for second mortgages and HELOCs via SecondMortgageAdvice.com.

The Pre-Recession Housing Problem That’s About to Slam Homeowners

Mortgages

The Pre-Recession Housing Problem That’s About to Slam Homeowners

The Pre-Recession Housing Problem That’s About to Slam Homeowners

The home equity line of credit (HELOC) had been around for many years before it became a hugely popular financial product in the early 2000s. When the financial crisis happened in 2008, drastically lower home valuations put a stop to the HELOC boom, and today we see far fewer being issued by lending institutions. However,… Read More

7 Signs Your Credit Card Debt Is About to Implode

Credit Cards

7 Signs Your Credit Card Debt Is About to Implode

7 Signs Your Credit Card Debt Is About to Implode

As we move into 2013, U.S. consumers are carrying balances exceeding $850 billion on approximately 600 million credit card accounts. This is down from the peak of more than $950 billion during 2009-2010, but credit card debt is still the third largest component of household indebtedness, behind only mortgages and student loan debt. Americans’ love… Read More