Consumers getting better handle on credit card debt, other loans
News from Debtmerica Relief:

Americans have been able to be far more conscientious about making their bill payments on time and in full in recent months, and that is particularly true when it comes to dealing with their outstanding credit card debt.

Consumer delinquencies on credit card bills dipped once again in the first three months of the year, and now stand at lows not seen in more than a decade, according to the latest Consumer Credit Delinquency Bulletin issued quarterly by the American Bankers Association. In all, consumer credit card delinquency slipped to just 3.08 percent of all outstanding balances, down from 3.17 percent at the end of last year.

This was the lowest level seen since 2001, and now stands at well below the average seen over the last 15 years of 3.93 percent, the report said. However, that average was likely inflated considerably by the high rates of delinquency and default observed during and fo…………… continues on Debtmerica Relief

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Overdue bills on credit cards, consumer debt, drop to 2007 level
News from Los Angeles Times:

WASHINGTON — The portion of consumers with payments overdue on credit cards, auto loans and other debt dropped in the first three months of the year to the lowest level since 2007, according to the American Bankers Assn.

Overall, the percentage of consumer loans that were at least 30 days overdue dropped to 2.35% in the January-through-March period, down from 2.49% in the last quarter of 2012. It was the best performance since the second quarter of 2007, and put consumer delinquencies below the 15-year average of 2.4%, the group said.

At the worst point during the Great Recession and its aftermath, about 3.35% of consumer loans were overdue.

“Consumers have done a remarkable job getting their finances under control,” said James Chessen, chief economist for the ABA. “Overall debt levels have declined dramatically and savings continues to grow. This means many consumers have more capacity to absorb a financial shock, and that’s a good place to be.”

The group’s quarterly Consumer Credit Delinquency Bulletin tracks overdue payments in 11 categories. Ten of those categories showed improvements in the first quarter, which Chessen said was remarkable given the sharp increase in gas prices in the first three months of the year.

Consumers showed great improvement on credit card debt. The percentage of overdue credit card…………… continues on Los Angeles Times

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Discover More Card: Great For Cash Back And Balance Transfers
News from Business Insider:

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Criminal Investigation Into Valley Park Mayor’s Use of City Credit Card
News from CBS Local:

Valley Park Mayor Nathan Grellner during a board meeting on July 2, 2012 (KMOX/Michael Calhoun)

VALLEY PARK (KMOX) – St. Louis County police paid a visit to City Hall this week, requesting documents relating to Mayor Nathan Grellner’s use of the city’s credit card.

Their investigation comes amid reports by KMOX of Grellner’s use of public funds for a washer and dryer for his home. Receipts also show he used the card at restaurants and a strip club at times when he was supposed to be attending board meetings.

Grellner skipped six months of board meetings before returning to work on Monday. He said the purchases were “made in error” because he could not “differentiate between my personal credit card and the City Credit Card.”

He paid back the controversial charges and returned the appliances, although alderwoman Rita Collins believes the timing of the Mayor’s atonement is problematic.

She said: “The only time he admits anything is when he gets caught with his hand in the cookie jar!”

Earlier in the week, Collins likened Grellner to actor Charlie Sheen.

A…………… continues on CBS Local

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