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Credit Card Debt Archives

Did this myth contribute to your credit card debt?

The elusive credit score -- countless consumers across Florida are constantly trying to improve their scores. After all, better credit score can lead to better financial opportunities, like home mortgages and lower interest rates on credit cards. However, one pervasive myth may actually be hurting consumers and pushing them to accumulate unnecessary credit card debt.

Tips for paying off credit card debt

Many Florida residents and other consumers around the country frequently use credit cards for purchases. Some use them only for big ticket items so that they may earn points or rewards, while others must use them for everyday or unexpected expenses. Regardless of how they use them, cardholders have now amassed over $1 trillion in credit card debt, according to the latest reports. Experts at an online consumer financial website have offered several ways to reduce that debt.

As interest rates climb, credit card debt may skyrocket

Credit cards are an unavoidable part of life for many in Florida. Whether used to build credit or bridge the gap between paychecks, these tiny rectangles have undoubtedly become part of everyday life. Unfortunately, so is credit card debt, and for some people it could be getting worse.

How Chapter 7 mitigates credit card debt

Debt is a reality of life for many American households. Florida residents will likely agree that modern life demands expenditures, sometimes beyond what is feasibly affordable. In this case, debt (especially insidious types like credit card debt) can accrue rapidly and leave an individual or family in a precarious financial position. Thankfully, for those facing serious debt, Chapter 7 bankruptcy is a viable option to help ease that burden.

Risk of credit card debt when using cards to build credit score

A good credit score is ideal to have in a variety of circumstances, from leasing a car to renting an apartment. Many people recommend getting a credit card as a good first step to building credit. However, many credit card companies in Florida and across the country encourage spending on these cards, and people who are not careful can end up with credit card debt.

Handling credit card debt: Balance transfers

Debt can be one of the most stressful burdens an individual or family can carry. Here in Florida, the average family carries a considerable amount of debt, including mortgages, medical expenses and the most insidious of all: credit card debt. Thankfully, there are a variety of ways for residents to handle that debt creatively, from renegotiating interest to Chapter 7 bankruptcy, that can help make debt manageable.

Clarification on wage garnishment and lump sum payments

There are many indicators that the economy is moving in a positive direction for Florida residents and across the nation. However, some consumers may have not experienced the improvements and are still struggling financially. Situations may have arisen where borrowers have been unable to repay their creditors. In these circumstances, a wage garnishment may occur.

Report shows amounts of credit card debt, number of cards

Many Florida residents and others around the country frequently use credit cards for their purchases. There are a variety of ways consumers choose to utilize their cards to fit their budgetary needs. However, with credit card debt now exceeding $1 trillion in the nation, it is clear that those carrying balances may have difficulty eliminating them.

Florida city on list of fastest-growing credit card debt

Many Florida residents are living under a mountain of unsecured debt. That can make it hard to juggle one's debt service, living expenses and other financial obligations each month. Some are not surprised to learn that a Florida city has been listed as an area with one of the nation's fastest-growing credit card debt

Don't incur credit card debt for these expenses

Consumers in Florida and all around the country routinely use their credit cards for a variety of reasons. Convenience is often a major factor in the usage of the cards, since almost every vendor accepts them as a form of payment. However, with credit card debt now exceeding $1 trillion, experts are sending some warning signals. A major credit reporting agency has developed a list of expenses that should never be charged to a credit card.

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Paul Urich
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