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Credit Card Debt Archives

Should you work with a debt-settlement company?

If you are in over your head with credit-card debt, one of your options may be debt settlement. A debt-settlement company isn't always the best avenue for settling your debts with your credit-card lender, though. Instead, understand that you can negotiate with your lender directly. Often, if you're willing to pay a lump sum at one time, it's possible to negotiate a debt and pay it off for less than you owe.

Credit debt could increase with new rate hikes in 2018

Credit-card debt is a growing concern in America. Thanks to the growth and stability of the economy at this time, people have felt comfortable taking on debts they may not have in the past. There's a risk to taking on debt, though. One of those risks is facing hikes in your interest rates, costing you more money than you initially planned for.

Crushing credit card debt might require you to file bankruptcy

Crushing credit card debt can keep you up at night and force you to skip out on doing certain activities. For some people, the issues with credit card debt creep up slowly. Charging purchases seems like a good option at the time but then you get the bill in and realize that you bit off more than you can chew. In other cases, a sudden problem, such as the loss of a job, causes you to be unable to make the payments.

Credit card spending reaches all-time high in 2017

Credit debts have hit an all-time high in America, so it's important that you have your own plan for getting out of debt. The average American has debts of around $6,375 on credit cards, which is around 3 percent higher than in 2016. Interestingly, despite the rise in overall debt, Americans have higher credit scores to go along with those debts today.

Take control of your credit card bills today

Now that Christmas is over, you can stop stressing about handing out the perfect gifts. This is also the perfect time to take control over your credit card debt so that you aren't forced to rely on them to pay for next year's Christmas at an alarming interest rate. We realize that financial freedom is a goal that you might want to set for 2018.

Stop the vicious debt cycle that comes with credit cards

Debt isn't a pleasant place to live. While it is possible to carry a credit card balance and still be able to enjoy life, there are some instances in which this just isn't possible. The beginning of the year is one time when many people come to realize just how difficult things have gotten with their finances. If you come to realize this in the upcoming weeks, you should know that you do have options to deal with the overwhelming debt.