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November 28, 2004 09:50 PM

A Generation Weighed Down By Debt


Excerpt: Trying to get by. Those four little words echo plaintively around the country as young adults struggle to get established and stay afloat. Saddled with record-high college loans and credit-card debts at a time when wages are stagnant and the job market is tight, they may be the most indebted generation of young Americans ever.


Two weeks ago, when Beth O'Connell ordered several books from Amazon.com, she received a distressing surprise: She had hit the limit on her credit card. Sorry, no books.

"This is my first maxing out," explains Ms. O'Connell, a publicist in Watertown, Mass., who graduated from Boston University three years ago. "I think I'm making decent money, but it's just not enough with all the bills I pay. It's not like I'm going out shopping and doing crazy things. I'm just trying to get by."

Trying to get by. Those four little words echo plaintively around the country as young adults struggle to get established and stay afloat. Saddled with record-high college loans and credit-card debts at a time when wages are stagnant and the job market is tight, they may be the most indebted generation of young Americans ever.

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Teens Need To Embrace Identity Protection (November 30, 2004)
Experts at the Qwest 2004 Summit on Protecting Teens from Identity Theft found that teens tend to be more careless about sharing personal information, especially on the Internet. So teenagers, here are some tips to help you keep your identity safe: - Be smart online ...
What to Do About Your Credit (November 29, 2004)
Free credit reports are coming your way (see Tip of the Week for details). But you may have to take further steps to fix mistakes you come across, or pay for other information, such as your actual credit score. It could be worth the trouble ...
7 Ways to Improve Your Credit Score (November 25, 2004)
While credit opportunities are opening up for consumers, poor credit ratings are blocking the doors of opportunity. Lenders are stopped when loan applicants can’t show good credit ratings. It behooves consumers to know the score when it comes to credit rating. Mortgage company decisions, as ...
Free Credit Report Details Announced (November 25, 2004)
Consumers in some parts of the United States will be entitled to one free credit report each year beginning Dec. 1, using a Web site called AnnualCreditReport.com, the nation's credit bureaus announced Tuesday. Consumers can also call a toll-free number or mail a written request ...

Read all 21 posts in the same category of Credit/Credit Card:

Citigroup Says It Will Issue American Express Cards - Dec 17, 2004
MBNA Pitches Rival Visa Card - Dec 14, 2004
Credit Card Loyalty Put to the Switch Test - Dec 09, 2004
Credit Cards Offer Safety In Buying Online - Dec 06, 2004
How to Deal With Your Debts - Dec 04, 2004
FACTA & Your Credit - Dec 03, 2004
Warning On Internet Loans - Dec 02, 2004
High Court Sets Truth In Lending Limit - Dec 02, 2004
Free Credit Reports May Reveal Surprises - Dec 01, 2004
Free Credit Reports Coming, With Pitches - Nov 30, 2004
Teens Need To Embrace Identity Protection - Nov 30, 2004
What to Do About Your Credit - Nov 29, 2004
7 Ways to Improve Your Credit Score - Nov 25, 2004
Free Credit Report Details Announced - Nov 25, 2004
One Late Payment Can Hit Finances Hard - Nov 25, 2004
Free Credit Reports Are On The Way - Nov 23, 2004
Card Debt - Nov 22, 2004
Soaring Interest Compounds Credit Card Pain for Millions - Nov 20, 2004
Gas Cutter - Nov 02, 2004
Payment Rates - Nov 02, 2004