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Tag Archives: credit card

Late Payments More Danger Than Bankruptcy

Generally, people spend their whole lives avoiding bankruptcy as a last resort. Bankruptcy is viewed as a public filing and has a stigma of shame behind it. Some people would rather continue to suffer through late payments on their accounts than face a real solution to the debt. A late payment can be very dangerous Continue Reading

Your Credit Card Balance Can Impact Your Future

Credit card companies are great at sending you promotions where low interest rates are offered for cash funds or for offering low interest rates to transfer a credit card balance. The low interest rates can sometimes be as low as 0%. It may seem like you aren’t paying for your purchases for a while by Continue Reading

Ways To Reduce Credit Card Debt

Just about everyone who possesses a credit card is looking for a way to tone down that debt, and for good reason. The average credit card debt at the end of 2016 was just under $6,000 per household, with some being more or less depending on a variety of factors. Why Credit Card Debt Is Continue Reading

Paying Off Holiday Credit Card Debt

Using credit cards to make your holiday purchases may not be the wisest thing to do, yet on average, it adds nearly $1000 to the balance of many credit card holders. At an average interest rate of about 13.93%, that means you will pay an extra $350 for those purchases. Higher interest rates, of course, Continue Reading

Statute of Limitations on Debt

Did you know that there is a legal limit to the number of years that a creditor has the legal right to sue you? Whether it’s credit card debt or medical bills, that debt becomes “time-barred” if the statute of limitations has passed. Creditors can still attempt to collect the debt by the usual means, Continue Reading

Pay the Highest Interest Rate First

If you are looking to eliminate your debt by making payments towards various types of debt like credit cards, auto loans, student loans, cash advance loans, or any others, a good strategy to follow is to try to contribute to your highest interest rate debts first. Prioritizing higher interest rates can help you relieve all Continue Reading