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Credit Card Debt Archives

Keeping credit card debt under control

Credit cards are a convenient method of making purchases, especially when one is short on cash. However, it is estimated that the average family in Tennessee and across the country carries almost $16,000 in credit card debt. That adds up to a total of $733 billion nationwide. Because credit card debt can be so costly with its high interest and fees, many people take painful steps to eliminate it, only to turn around and build it back up.

Credit card debt can be dealt with in several ways

Having too much debt can place one in an uncertain and sometimes hopeless position. When faced with overwhelming debt as a result of credit card overuse, a common response is to cut up the card entirely. However, Tennessee residents may be surprised to learn this is not always the best response to credit card debt. While some individuals face debt they cannot handle, many others may be able to mitigate their debt problems in other ways. 

Handling credit card debt

For many Americans, debt is a rising problem in 2016. With the national credit card debt expected to top $1 trillion, Tennessee residents may be thinking about how to reduce their debt load. Thankfully there are a variety of strategies suitable for any debt load, from the mildly persistent to the significantly problematic. 

Credit card debt continues to rise

Owing money to creditors is one of the most challenging financial pitfalls facing Americans today. In fact, Tennessee residents might be surprised to note that credit card debt is actually on the rise as the country recovers from the 2008 recession. Thankfully, options are available for American families who are struggling under unmanageable debt, including debt consolidation, debt counseling and even Chapter 7 bankruptcy. 

Credit card debt on the rise

It should come as no surprise that the average American household debt is on the rise. Tennessee residents are all too familiar with carrying debt following a years-long recession that is just now in the process of correcting itself. But the reality is that credit card debt and other debts are crippling some households around the country. Thankfully, several options are available for those laboring under these financial obligations.

Settling up a credit card debt

Credit cards are a valuable tool and a vital part of building a financial portfolio, but they also have their drawbacks. Tennessee residents are well aware how crippling credit card debt can be for families both in-state and across the country. While there are a variety of options for dealing with credit card debt, it is important to have a handle on what the outcomes will be if they are utilized. 

Bad habits make credit card debt worse

For many Americans, carrying debt is a normal part of their financial lives. Of course, as some Tennessee residents are already aware, carrying debt and drowning in it are two very different things. Credit card debt is among the most challenging financial obligations to tackle, but thankfully, there are ways to avoid bad habits and recover from runaway debt. 

Dealing with leftover credit card debt

It is fair to say that most Americans overspend during the holidays. Tennessee residents will agree that building up credit card debt is very easy when purchasing gifts for loved ones. However, this can leave individuals and families in precarious financial positions, which makes dealing with credit card debt moving into 2016 an important part of any financial plan. 

Managing holiday credit card debt

Many Americans will start the new year with at least some debt accrued from the holiday season. Tennessee residents know that carrying credit card debt on an ongoing basis is not a positive financial position in which to be. Of course it cannot always be helped. Thankfully, there are several ways to manage credit debt, including debt counseling and Chapter 7 bankruptcy. 

Planning ahead for holiday credit card debt

The holidays are swiftly approaching, and, for American families, the holidays often mean a number of large purchases will be made during the festive season. However, for Tennessee residents, this can also mean accruing credit card debt that can be difficult to repay once the tinsel comes down. Thankfully, there are a variety of strategies available for those who take on more debt than they can handle.

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