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Stocks sank deeper into the red in late trading Wednesday, as a decline in financial stocks more than offset a boost in oil prices and energy stocks.

The Dow Jones Industrial Average lost 48 points, or 0.5%, to 10807, while the Standard & Poor’s 500-stock index shed six points to 1142 and the Nasdaq Composite dropped eight points to 2371.

Speculation that the Federal Reserve will take further steps to spur the economy has pushed the dollar lower in recent days. The U.S. Dollar Index, which measures the greenback against a basket of six currencies, hit its lowest level in eight months Wednesday.

Investors remained focused on any possible Fed action, as a small handful of Fed officials delivered speeches throughout the day.

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Tags: Stocks, Stocks Market

We’ve discussed different ways to consolidate your credit card debt — called “debt consolidation” — and also how to take advantage of debt settlement in past articles here at CreditShout. But what are the real differences between the two processes? And how does each affect your credit score?

Four Forms of Debt Consolidation

As we’ve discussed, there are several ways to perform a debt consolidation. These include:

• Putting all your debt on one, low interest credit card so you can pay it off faster
• Getting a home equity loan or home equity line of credit to pay off your other debt
• Consolidating your debt with a personal loan
• Using debt consolidation through a debt consolidation service, often in conjunction with credit counseling

Debt Consolidation and Your Credit Score

When you perform a debt consolidation on your own, by transferring debts onto one lower interest credit card, your FICO credit score won’t be affected at all. If you applie

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Tags: Debt Consolidation, Debt Settlement, Settlement

Details released by the UK Insolvency Helpline have shown that credit cards are contributing to worrying levels of personal debt . The organisation is calling for more debt relief for those getting into financial problems.

A representative for the UK Insolvency Helpline has said that many people in the UK are finding themselves in financial difficulty due to an inability to follow through on their good intentions, including paying off the debts on credit cards and overdrafts .

Richard Sorsky, a councillor at the Helpline, said that many people intend to pay off their debts but then use the money for other purchases. Read more…

Tags: Credit Cards, Debt