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Are you underwater in credit card debt?

There's nothing worse than feeling like you don't have enough money to pay the bills. Not only will you feel like you don't have enough money to spend on entertainment and other things you enjoy, but you'll be worried about having enough cash to put food on the table, pay for vital utilities and pay the rent for the roof over your head. When some people find themselves in this kind of situation, they may turn to their credit card for a bailout, so they can make financial ends meet.

The problem is, this can land you in hot water fast. Using your credit cards to pay your bills can quickly cause a debt problem that spirals out of control.

Even a small credit card balance that goes unpaid will turn into an insurmountable financial liability fast. First, you'll get hit with late fees and interest rate hikes as a result of your unpaid credit card bill. Then, the fees will continue to add up and, before you know it, your credit card balance will double or even triple in size.

When your credit card bill is so high that it will take a lifetime or more to pay off, and you're also struggling to pay rent, living from paycheck to paycheck and you're not sure how you'll pay your electric bill this month, it's time for a reality check. Do you really have to put up with a life like this? Do you really want to live the rest of your life in debt like this?

Hopefully, you will explore the various debt resolution strategies available rather than wallowing in your debt woes. Even if you have found yourself in a situation like this, there could be a light at the end of the tunnel if you can qualify for Chapter 7 or Chapter 13 bankruptcy.

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