Consumer debt can be associated with Predatory lending
Written by DebtFree on July 8th, 2008Consumer debt can be associated with Predatory lending , although there is much debate as to what exactly constitutes predatory lending. Consumer credit counseling program and Christian credit counseling are parts of credit counseling. In a Consumer credit counseling plan a credit counselor will discuss your financial situation with you. Consumers believe those awful tales spun by collection agencies of impending doom, especially about garnishment and seizure of property. Collection agents fail to mention (surprise!) that in order for these actions to take place, the creditor must first go to court.
Consumer spending accounts for more than two-thirds of gross domestic product, and residential investment–the construction of new homes–makes up another 4 percent or so of GDP. In addition, households own more than $14 trillion in real estate assets, almost twice the amount they own in mutual funds and directly hold in stocks.
