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Posts tagged "Credit Card Debt"

Should we be talking more about credit card debt?

Florida parents usually teach their children about which matters are polite to discuss, and what issues they should simply keep to themselves. Although these lessons might be useful in some situations, it leaves some adults unable to engage in meaningful discussions about serious issues affecting their daily lives. Namely, debt.  While no one wants to bring up how much credit card debt they have, one expert thinks it could be useful to engage in these types of discussions. 

Credit card debt rapidly rising in Florida

Florida consumers swiped their credit cards more than almost everyone else in the nation over the year's second quarter. While experts caution that this is not necessarily a sign of incoming disaster, it could spell trouble for some people. Consumers who have considerable amounts of credit card debt may also be struggling to handle finances in other areas of their lives, and the high interest rates associated with credit cards could make things worse. 

High interest rates contribute to growing credit card debt

Credit card interest rates have been going up over recent years, which has contributed to the growing balances carried by most Americans. Higher interest rates make it much more difficult to pay off existing credit card debt, and many people in Florida may see their balances rise despite making regular payments. This is extremely problematic for consumers who are struggling to pull themselves out of debt. 

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.

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