Consumers Pay Credit Cards Before Mortgages «

Consumers Pay Credit Cards Before Mortgages

When you fall on hard times, you have to make some difficult decisions.

If you can’t pay all your bills, which ones do you skip and which ones do you pay? You have to choose carefully to avoid making things worse than they are. For example, if you need your car to continue earning income, your car payment becomes one of your most important payments.

A study released by TransUnion shows that consumers are going against conventional wisdom and paying credit card bills while letting mortgages fall behind. This means they’re more likely to be forced out of their homes, and their credit cards will soon become worthless — credit card issuers will find out that they’ve defaulted on the mortgage and slash credit limits or close accounts.

If you can’t make your payments, visit a credit counselor to find out how to proceed. Get information on how to prioritize debt payments and learn what’s at risk.


  • New ETFs From Scottrade - No Brokerage Fees

    There's no doubt that there are more exchange traded products now than ever.

    classy, black-and-white Corsair Graphite 600T case that says sci-fi, not hot rod. I want to get like eight of these things, ...
    Read More
  • 14 ETF Trading Strategies

    You may have heard of ETFs and some of you even have them in your portfolios, but not many investors are aware of the diverse ETF trading strategies these assets have to offer.

    Read More