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Posts tagged "credit card debt"

Credit card debt even a problem for some with good credit scores

Many Florida residents and others around the country work hard to maintain strong credit scores. For some, however, credit scores may slip if they struggle with a significant amount of credit card debt. While this is typically the norm for those with significant balances on their cards, it is not always the case. A recent survey by a financial services company shows that even consumers with strong credit scores can still struggle with credit card debt.

What happens when credit card bills go unpaid

It doesn't take much for a Florida resident to fall behind on his or her financial obligations. A sudden job loss, a blown-out car engine or an unexpected illness can all create an immediate and impactful cash crunch. Knowing how to respond can make a big difference in how things will ultimately turn out. The following tips are offered in the hopes of helping consumers know what to do when their credit card bills are 30, 60 or 90 days past due.

Tackle credit card debt with these 3 strategies

Paying off debt can be struggle for many Florida residents and others around the country. Many individuals carry a significant amount of credit card debt because they are able to pay only the minimum due each month. However, many consumers have goals to significantly reduce or even eliminate their credit card balances. Financial experts offer some suggestions on how to accomplish those goals.

Develop a plan to eliminate credit card debt - no matter what age

Many young adults in Florida and around the country are deluged with credit card offers when they graduate from college or start a new job. While many may use them to build up a credit history and pay them off each month, others may quickly find it difficult to eliminate the balances. Before getting trapped in a cycle of credit card debt, personal finance experts offer suggestions on how to reduce debt, avoid interest payments and increase credit scores.

Ways to get credit card debt under control

Many consumers in Florida and around the nation use credit cards for household purchases. While some may routinely pay the full balance on the card each month, there are others who carry balances. In fact, the average credit card debt for a family in this country is around $5,700. This number almost triples to $16,000 for those families that carry balances each month. Financial experts stress the importance of getting credit card debt under control.

The increasing problem with credit card debt in the U.S.

Most Americans have credit card debt, and most people with credit cards do not pay the balance off in full each month. For many Florida  consumers, this balance accumulates quickly, leaving them with more credit card debt than they can effectively manage. In fact, the rate of card holders who are delinquent on their balances is increasing rapidly.

Tips for paying off credit card debt

Many Florida residents and others around the nation have a variety of credit cards at their disposal. Unfortunately, if not managed correctly, consumers may end up with a significant amount of credit card debt. Experts recommend several tips for managing credit card debt and improving credit scores.

Focus on paying off credit card debt

Many Florida residents and others around the country frequently use credit cards as part of their family's financial plan. When used appropriately, they can be useful tools. However, carrying balances on the cards can lead to serious situations. When credit card debt grows, consumers may be caught in a never-ending cycle of mounting debt and interest payments. To break the cycle, financial experts offer several recommendations.

Credit card debt: Use credit cards the right way

Millions of Florida residents and others across the country have at least one credit card. While some may struggle with excessive credit card debt, many utilize their cards effectively as part of their household budgeting process. However, experts cite several mistakes routinely made by cardholders that should be avoided to maximize the potential benefits of credit cards.

Have a plan to eliminate credit card debt

Living a debt-free life is a goal of many Florida residents and others around the country. However, millions of the nation's households have credit card debt. With an average debt per household of $8,448 and an average interest rate of 14 percent, a family may spend over $1,000 on interest. Experts recommend several steps to take to become debt free.

Paul Urich
Orlando Office

Law Office of Paul L. Urich, P.A.
1510 East Colonial Drive
Suite 204
Orlando, FL 32803
Phone: 407-896-3077
Fax: 407-896-3041

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