Professor John Chung on how habitual overleveraging and other irresponsible borrowing can damage credit standing and lead to bankruptcy.

Upcoming Events

Commencement

Commencement

Class of 2020 How to Prepare for Law School BBQ/Mixer
JUN
09
9:30 am - 2:00 pm
RWU Law Main Campus, 10 Metacom Avenue, Bristol, RI 02809
19th Annual Rhode Island Attorney General Open Government Summit
JUL
28
8:30 am - 12:30 pm
RWU School of Law, Bristol, RI
CLE Program: Management of Spinal and Extremities Radiology
NOV
02
5:30 pm - 8:30 pm
Crowne Plaza, Warwick, Rhode Island

Trending@RWULaw

05/08/2017
By Dean Michael J. Yelnosky
On May 19th, the members of the Class of 2017 will cross the stage and receive their diplomas from President Farish. That short crossing tells little of the rich stories of how graduates arrived at...


Affordable Excellence at RWU LAW

Archives

Newsroom

Chung on Credit Card Debt

Professor John Chung on how habitual overleveraging and other irresponsible borrowing can damage credit standing and lead to bankruptcy.

From CARDHUB: "Debt Solutions Overview: Compare Options, Avoid Credit Score Damage & Save" by Odysseas Papadimitriou

Professor John ChungSept. 18, 2013: Debt is unquestionably a double-edged sword. Leveraging it can enable you to purchase a home or secure an education far earlier than you would be able to if full payment was required up front. But habitual overleveraging and other types of irresponsible borrowing can prove disastrous to both your credit standing and bottom line if you aren’t careful.

“Credit cards are useful tools for short-term cash management,” says John Chung, a professor at the Roger Williams University School of Law, who studies the relationship between consumer debt and bankruptcy.  “The problems emerge when people view credit cards as a means to fund a lifestyle and/or use them as long-term sources of cash.  Too many people confuse credit cards with actual cash.” [...]

For full story, click here.