Tag Archives: credit card
Late Payments More Danger Than Bankruptcy
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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
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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
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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
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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
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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
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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