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Credit Card Debt Archives

Christmas is coming but doesn't have to involve debt

Even though most people don't want to think about it, Christmas is right around the corner. Now is the time that you have to think about what you are going to do for loved ones on that holiday. Some people will go overboard and buy gifts that they really can't afford. This is because they just didn't plan and now feel the pressure of the coming gift-giving season.

Looking at credit card debt can be daunting

Credit card debt is a reality for many people. It is easy to become overwhelmed with credit card debt, but it can be equally difficult to get out of that debt. Some people work diligently to pay off their bills and keep a good credit score. Others realize that they are in too deep and opt to file for bankruptcy. Neither way is wrong, so you should evaluate your circumstances carefully to determine which is the best for you.

College students at risk for high credit card debt, report shows

Credit card debt can make your life miserable. It can weigh down your finances and make it hard to make ends meet. Even if you've only had to put a few thousand dollars on your credit cards because of an emergency, it can take many months, or years, to pay that debt off.

How does debt affect Americans?

Credit card debt has become a significant problem for Americans. Individual credit card debt stands at around $5,331 as of 2019. In most cases, Americans don't pay the amount owed in full, either, which is another issue. By not paying in full, they face interest accruing; Interest can exceed 25 percent annually.

Credit card debt, monetary debt and bankruptcy options

Many things can cause you to run up credit card debt, but not all of those reasons are bad. You may have to rely on credit to pay for life's necessities. This might be due to a layoff or a medical condition. When emergencies happen, your credit cards can be a lifeline. Unfortunately, that lifeline can prove to be a challenge in the future.

Financial challenges involving credit cards require attention

Credit card debt isn't something that you should carry from one month to the next. Instead, you should try to pay the balance off every month. While it is understandable that this isn't always possible, it is a good goal to have. Of course, there is a chance that something will happen that could prevent you from being able to pay off these bills as you have in the past.

Investing with credit is a risky behavior for consumers

Credit card debt can be something that holds you back or helps you as you improve your life. You might take on debt in the short-term to buy furniture for a new home or place your purchases on a card to reap the rewards of cash-back offers.

Know what options you have for credit card debt

Credit card debt can be difficult to pay off once you have a significant balance accrued. One thing that can make this even worse is that you are having to pay for the interest and possibly other charges associated with the accounts. Some Americans might look at their credit card accounts and realize that they've bitten off more than they can chew, partially because of the holidays.