The amount of debt held by U.S. residents has soared, reaching the same record levels experienced at the brink of the recession that began in 2008. However, rather than home mortgage debt, this time the debt largely relates to vehicle loans and educational loans.
3 tricks for responsible credit card use
Now that you're well on your way to resolving your credit card debt, it's time to start considering strategies that will help you never get into this problem again. This article will cover three simple things you can do to stay financially responsible and avoid spending money that you don't have.
A 3-step process to getting out of credit card debt
We all want to get out of credit card debt, but the idea can seem daunting. There are some things that you can do, however, which will help you get out of debt over time. The following three-step process can work, if you have a steady income, if you're diligent and if you stick to the process without wavering over time.
How will I benefit from Chapter 13 bankruptcy?
If you have a steady income, you might be a candidate for Chapter 13 bankruptcy. Chapter 13 bankruptcy involves the consolidation of outstanding debt. It also involves the consolidation of monthly payment obligations into one single bill. All of this is done in accordance with a court-approved Chapter 13 repayment plan that is designed to make your debt more manageable, while resolving any debt that remains following the term of the repayment plan.
Are you being harassed by creditors about unpaid debts?
You would think they'd go away eventually, but when your credit card company sells your debt to a debt collection agency, they can be relentless. They'll call your family members, and even embarrass you at your work. You might try to change your phone number and other details, but they'll still find you.
