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Free yourself from consumer debt

Washington residents aren't alone in their struggles with credit card debt. On average, the typical credit card balance for Americans is more than $15,000. However, many consumers are bowed under much higher debts on their plastic and seeking ways to get out from under the debt mountain.

How to control personal debt in Washington

Personal debt is no joke in Washington. In fact, some studies have shown that the average household in the United States -- when eliminating homes where no credit cards are used -- has about $15,950 in debt on those cards. It was also found that the interest rates on those cards tended to be in the teens. This study was done in 2012.

Why so many people are weighed down by credit card debt

Those no-good credit card companies -- they are always trying to cause problems for borrowers through nefarious and underhanded tactics. Many Washington residents who are suffering under the burden of credit card debt may have gotten into their current situation through little fault of their own. One of the main culprits: the pre-approved credit offers that tempt them into spending too much.

Negotiating with companies can help your credit card debt

You are drowning in credit card debt, and you just don't know what to do. Instead of falling into a cycle of worry and despair, consider contacting your credit card company to learn about their debt relief programs. Most people do not realize that credit card companies are often willing to negotiate payment due dates, interest rates, late charges and even credit limits, depending on the nature of your relationship. A lump sum settlement can also help for those who are facing serious financial issues that border on bankruptcy.

Credit card debt builds when used as 'emergency fund' alternative

What would happen to your finances if emergency struck? If you said you would rely on credit cards to save the day, you are not alone; a growing number of Washington residents and other Americans are relying on credit to help out in the event of a major problem. Although amassing more credit card debt in the wake of an emergency may not seem like such a big deal, experts say that the practice can be detrimental to financial health.

This holiday season sees huge jump in layaway purchases

After the financial crisis of 2008, many Americans found that their finances were terribly overextended. They were mired in credit card debt, and, following a job loss or a pay cut, had no way to pay it down. Many of these Americans turned to bankruptcy as a way to emerge from under their heavy debt loads.

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