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All articles tagged Debt (page 2)

Average Credit Card Debt in American Households (2024)

By: Brittney Mayer, 1/24/2024

No matter what you received under the tree, the average American adult started the new year with the gift that keeps on giving: credit card debt. In fact, more than two-thirds of shoppers used credit cards to finance their holiday purchases in 2017, which means many of us started 2018 with more than $1,000 in extra credit card debt. And that's hardly all the credit card debt Americans dealt with in 2018. Collectively, the total revolving debt in the U.S. has topped $1.011 trillion, a... read more »

9 Best Ways to Pay Off Credit Card Debt (From Expert Beverly Harzog) (April 2024)

By: Brittney Mayer, 4/18/2024

If your credit card spending has gotten out of hand and it's time to pump the brakes, you've come to the right place — keep reading for the best ways to pay off credit card debt. The convenience and rewards offered by credit cards have made them one of America's favorite ways to pay. But a significant thing happens if you start to mistake that little piece of plastic for free money: you end up with a big ole heap of credit card debt. Swiping a card is quick and easy, and for many... read more »

9 Best Credit Cards After Bankruptcy Discharge (April 2024)

By: Sean Garrity, 4/18/2024

While no one likes to admit defeat, sometimes our debts simply get the better of us and bankruptcy may become the only option for a better financial future. Unfortunately, your credit will see lasting negative impacts from a bankruptcy, but you can repair your credit with some hard work -- and a lot of patience. One of the first steps you should take after your bankruptcy is complete is to check all three of your credit reports. Make sure all of the accounts that were affected by the... read more »

6 Tips to Increase Your Credit Limit Today (April 2024)

By: Ashley Fricker, 4/18/2024

Are you interested in learning how to increase your credit limit? First and foremost, ask yourself why you want to increase your credit limit. If it’s to go on a shopping spree or purchase things you can’t afford without credit, stop right there. You'll need to have proven to yourself and the bank that you know how to use credit responsibly in order for them to approve you. This means that you’ve exemplified yourself as a good customer for at least 6 months. If your cards are... read more »

11 (Need-to-Know) Credit Card Debt Settlement Facts

By: Mike Randall, 9/24/2015

If the burden of overwhelming credit card debt has you feeling like there’s nowhere to turn, consider a solution that works for many people just like you: Credit card debt settlement. But debt settlement isn't for everyone - here are 11 credit card debt settlement facts that can help you decide if it's the correct solution to your financial woes: 11. Debt Settlement Companies Are For-Profit Enterprises That means they make their money from people like you, who they are... read more »

What Happens to Credit Card Debt During Bankruptcy?

By: Linsey Knerl, 8/24/2020

Bankruptcy isn’t as popular an option as it used to be for dealing with debt. While it may not be the first resort, however, it’s still a necessary alternative for many, and credit card debt is often a driving factor for considering this serious step in finance management. Before you consider bankruptcy as a viable option for overwhelming debt or crippling payments, it’s wise to understand how the process will affect your credit card obligations, specifically. Here are... read more »

5 Steps to Pay Off Credit Card Debt

By: Alexandra Leslie, 6/26/2015

Credit card debt is incredibly common in America, but letting it get out of control can result in financial destruction. Follow these steps to effectively pay off your debt and enjoy financial freedom. 1. Assess the damage Sometimes when people are in major credit card debt, they feel overwhelmed and may stop opening the bills. If you’re going to take control of your credit card debt, it’s time to take the music and tally up the damage. It may be difficult to take an honest... read more »

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