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– The major U.S. index futures are pointing to a slightly lower opening on Wednesday, with futures trimming most of their early losses following the release of a report showing bigger than expected increase in durable goods order growth. The details of the report are mixed, as despite the strong headline number, orders for non-defense capital good, excluding aircrafts- a proxy for capital spending declined in the month. With opinion divided over whether Federal Reserve Chairman Ben Bernanke will announce further stimulus, sentiment is likely to remain nervous.

U.S. stocks extended their gains on Tuesday, as bargain hunters stepped up purchases amid the release of mixed economic readings. The major averages opened slightly higher after a reading on Chinese manufacturing activity came in better than expected and manufacturing activity in the euro zone slowed by less than expected slowdown. Although traders showed some apprehension in early trading, stocks advanced steadily throughout the session, closing notably higher.

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You’ve lost your job, you’ve missed months of credit card payments, and your credit is the last thing on you mind. It is best to just walk away from your debt obligations, right?

Wrong!

It may be quite tempting to just give up on your credit, especially if you feel your debts are simply too overwhelming to handle anymore. However, giving up on your credit is never the right decision to make, and here’s why:

• Judgments – Although creditors of unsecured loans such as credit cards and personal loans cannot take away your home, for example, they can take you to court where a judgment against you can be made by a judge. If a creditor wins a judgment against you in court, the court can begin to garnish your wages. Instead, it is best to call your creditor and set up a realistic repayment plan so you can stay on good terms with them. Ignoring the problem will not make it go away; it will simply delay the inevitable.
• Other credit – Your poor credit history can affect you years into the future. In other

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“Debt consolidation” is a term well-known and widely used considering the current economic situation. There are hundreds of sites with advice on debt consolidation service. Every day your favorite newspaper will also contain an article or advise on this topic. Box channels host discussions on the debt consolidation. Debt consolidation is a great tool if it is used for the right reasons, and can really help give you a break and take off the pressure when you try to meet your monthly repayments.

In addition, here are many consultants and companies with the intention to provide expert advice on debt consolidation. So why is it such a valuable topic? Debt consolidation means combining of the debt on various cards into a single account. As usual, your high APR will be changed to a decreased APR.

If you look at how the entire industry works, you will both understand the demand behind debt consolidation process. Debt grows in 2 ways. Read Full Post…

First Data Corp.’s Spend Trend report has revealed that consumers in the U.S. are increasing their use of credit cards to pay for gas and other basic necessities. The report found that inflation has created a significant jump in prices for food and fuel while income has failed to keep pace.

Credit-Based Purchases Increased 10.7 Percent

The report revealed the dollar volume of credit-based purchases charged grew 10.7 percent in June from one year ago, which represents a very significant jump. Single transactions also grew drastically in this timeframe. According to First Data Corp., the number of transactions in June rose 6.8 percent from a year prior.

Silvio Tavares, senior vice president at First Data, revealed in a Bloomberg report that the large increase probably represents the increase in gas costs over that time span. “Consu

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