Keshya Williams: Husband not responsible for credit card debt in wife’s name
News from TCPalm:

Dear Attorney Williams:

My wife has three credit cards; I am not a cosigner. We were working hard to get the debts paid off. She experienced a catastrophic illness that resulted in a significant brain injury and is now disabled in a nursing facility. As a result, I have lost her income, which was 40 percent of our household income.

The debt on these three cards is approximately $ 12,000 and I cannot continue to pay them. Am I liable in Florida for her debt? The cards were opened after we were married and I did not benefit from her purchases.

I am concerned that the credit card companies will affect my credit standing and/or place a lien against our home.

I am fearful of ignoring the payments as this would place the cards in default which carry interest rates over 30 percent, compounding the problem.

—Reader

Dear Reader:

If you are not a co-signer on the cards, your wife is liable for the credit card bills and not you. Even if you have been paying her creditors, you still haven’t legally assumed liability, unless you signed documents stating otherwise.

If you stop paying on the cards, your wife’s credit score will be affected and shouldn’t have any bearing on your credit. However, you may want to contact the creditors as a courtesy and explain her condition.

Unfortunately, th…………… continues on TCPalm

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Average credit card debt falls by just €20 since peak of boom
News from Irish Times:

The Irish Times – Thursday, February 9, 2012

CONOR POPE, Consumer Affairs Correspondent

THE AVERAGE amount owed on Irish credit cards has fallen by just €20 since the height of the boom as consumers struggle to pay off debts run up before the recession took hold.

An Oireachtas committe heard that average bills have remained constant, despite repayments outstripping new spending for more than three years and consumers clearing €400 million from balances since the end of 2008.

The scale of the personal debt crisis confronting hundreds of thousands of Irish people was outlined in a statistical overview of personal non-mortgage debt given to the Oireachtas committee on Finance, Public Expenditure and Reform by the Central Bank’s head of statistics Joe McNeill yesterday.

According to the Central Bank’s figures, the average amount owed on Irish credit cards peaked at the end of 2008 at €3 billion or approximately €1,350 per card. Mr McNeill told the committee that since then repayments had exceeded purchases significantly and by the end of last year the amount of credit card debt owed had fallen to €2.6 billion.

He said part of the fall could be attributed to lenders such as the Bank of Scotland exiting the market and…………… continues on Irish Times

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Visa 1Q profit rises 16 percent as card use rises

Posted by administrator | 11/02/12 | Tagged Credit Card

Visa 1Q profit rises 16 percent as card use rises
News from STLtoday.com:

Visa Inc. said Wednesday that its fiscal first-quarter profit rose 16 percent, as card use rose both in the U.S. and overseas.

The San Francisco-based payments processor posted a notable 10 percent increase in U.S. credit card use, stating much of that growth came from a continued revival in spending by affluent consumers.

But debit card use rose just 6 percent. That’s the slowest debit card growth rate in more than a year, and comes during the first three-month period that new rules were in place to limit the fees retailers pay to accept the cards.

The rules also require that starting in April, merchants get a choice on which network handles their debit transactions. In the last few months, Visa has been offering incentives to encourage stores to choose its network.

Debit growth has been slowing over the past few quarters. In January, debit growth slowed further, to 4 percent, said Chief Financial Officer Byron Pollitt during a conference call to discuss results. “We are beginning to see the impact of the new debit rules,” he said.

Edward Jones analyst Shannon Stemm noted that, while it’s too soon to determine the overall impact of the new regulations, rival MasterCard Inc.’s results last week showed some debit market share gains versus Visa, which still holds the bulk of the U.S. debit market.

Visa CEO Jo…………… continues on STLtoday.com

… Read the full article
.

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Wareham police use surveillance photos to track down Dartmouth theft suspect
News from Fall River Herald News:

Wareham police identified a Dartmouth woman suspected of stealing a credit card from a car in Wareham through video surveillance tape photos of the woman using the credit card in a New Bedford store.

The woman’s photo had been posted on the department’s website, and was picked up by area online media outlets including wickedlocalwareham.com and the Wareham Courier Facebook page.

Kristen Lynn Dacosta, 30, of 22 College Lane, Apartment A, North Dartmouth, was positively identified as the woman that was viewed on store surveillance tapes in New Bedford, Wareham police said.

Police said once Dacosta was identified from the videotape photographs, an arrest warrant was applied for, along with a search warrant for her car and home. Police recovered jewelry at her home that had been reported stolen during a housebreak in Plymouth, which will be further investigated by Plymouth detectives.

Dacosta was arrested while attempting to hide in a bedroom closet in her Dartmouth apartment, police said.

She will be charged with breaking and entering into a vehicle, larceny of a credit card, and improper use of a credit card over $ 250.

Chief Richard Stanley commended the investigative actions of the Wareham Police Dept.’s detective and patrol divisions, as well as detectives of the Marion and Dartmouth police departments, which provided valuable inform…………… continues on Fall River Herald News

… Read the full article


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Visa 1Q profit rises 16 percent as card use rises

Posted by administrator | 11/02/12 | Tagged Credit Card

Visa 1Q profit rises 16 percent as card use rises
News from STLtoday.com:

Visa Inc. said Wednesday that its fiscal first-quarter profit rose 16 percent, as card use rose both in the U.S. and overseas.

The San Francisco-based payments processor posted a notable 10 percent increase in U.S. credit card use, stating much of that growth came from a continued revival in spending by affluent consumers.

But debit card use rose just 6 percent. That’s the slowest debit card growth rate in more than a year, and comes during the first three-month period that new rules were in place to limit the fees retailers pay to accept the cards.

The rules also require that starting in April, merchants get a choice on which network handles their debit transactions. In the last few months, Visa has been offering incentives to encourage stores to choose its network.

Debit growth has been slowing over the past few quarters. In January, debit growth slowed further, to 4 percent, said Chief Financial Officer Byron Pollitt during a conference call to discuss results. “We are beginning to see the impact of the new debit rules,” he said.

Edward Jones analyst Shannon Stemm noted that, while it’s too soon to determine the overall impact of the new regulations, rival MasterCard Inc.’s results last week showed some debit market share gains versus Visa, which still holds the bulk of the U.S. debit market.

Visa CEO Jo…………… continues on STLtoday.com

… Read the full article
.

Related News:

Wareham police use surveillance photos to track down Dartmouth theft suspect
News from Fall River Herald News:

Wareham police identified a Dartmouth woman suspected of stealing a credit card from a car in Wareham through video surveillance tape photos of the woman using the credit card in a New Bedford store.

The woman’s photo had been posted on the department’s website, and was picked up by area online media outlets including wickedlocalwareham.com and the Wareham Courier Facebook page.

Kristen Lynn Dacosta, 30, of 22 College Lane, Apartment A, North Dartmouth, was positively identified as the woman that was viewed on store surveillance tapes in New Bedford, Wareham police said.

Police said once Dacosta was identified from the videotape photographs, an arrest warrant was applied for, along with a search warrant for her car and home. Police recovered jewelry at her home that had been reported stolen during a housebreak in Plymouth, which will be further investigated by Plymouth detectives.

Dacosta was arrested while attempting to hide in a bedroom closet in her Dartmouth apartment, police said.

She will be charged with breaking and entering into a vehicle, larceny of a credit card, and improper use of a credit card over $ 250.

Chief Richard Stanley commended the investigative actions of the Wareham Police Dept.’s detective and patrol divisions, as well as detectives of the Marion and Dartmouth police departments, which provided valuable inform…………… continues on Fall River Herald News

… Read the full article


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