Debt Management Solutions

Debt Management Solutions: Credit Card Debt

• Offers for credit cards abound, even when the criteria for qualifying seem to be stricter. If you are like many people you probably receive your share of credit, card offers in the mail everyday. You may even have more credit than you can handle right now, and if that is the situation, you are probably looking for a solution to handling excess credit card debt.

Easy Credit Can Bring Difficult Times

• Credit card debt mounts in no time. Receiving a new credit card with a large credit limit and no balance can make you feel like you have had a huge cash infusion into a bank account. The only difference is that once the plastic cash is spent, it must be paid back along with interest.

Easy Credit Can Bring Difficult Times

• Debt that is racked up in one hour can take five years or more to pay in full. Imagine having ten or more maxed out credit cards and making payments along with high interest. Your entire paycheck could be committed to paying back debt with nothing tangible to show for all of this costly spending.

Easy Credit Can Bring Difficult Times

• Worst of all, falling behind can wreak havoc on your credit history, meaning that any additional credit you qualify for will come with ridiculously high interest rates.

Take Charge of Your Debts

• If you are a credit card user and have been able to keep your debt low and under control, keep working hard to keep it that way. It is easy to slip into habits that will put you in over your head.

Take Charge of Your Debts

• If you are already feeling discomfort from too many card swipes at the cash register, there are some measures you can take to get your credit back on track.

Know What You Owe

• Many people have so many credit cards that they don't have a clue how much they are actually paying out each month. They get into a routine of making minimum payments and stay stuck in a rut of paying perpetual interest.

Know What You Owe

• If you are in this predicament, you should take a realistic look at your situation. Fortunately, technology offers an easy solution--you can check your credit history by ordering a free credit report online.

Credit Report• Your credit report will list all the

information that has been reported by your creditors. This can be an eye-opener if you have never seen all of your creditors and outstanding debts listed in one place. It will help you realize exactly how long it will take you to pay off your debts if you stick with the minimum payment approach, and can give you the push you need to pay a little more and shave off years from making payments.

Pay on Time by Paying Online

• If you are accustomed to mailing payments and sometimes having them arrive late, that can cost you additional fees. Creditors charge as much as $35 each time a payment is late. Put your computer to work and pay bills online. With some creditors it is possible to pay online the same day the payment is due, so if you must wait to the last minute, you won't be penalized.

Pay on Time by Paying Online

• You should check first to make sure you can make a payment on the due date and have it credited on time. Some creditors will charge a fee for this service.

Further Reading…

• Credit Counselling Services of Atlantic Canada is a leading provider of debt management & debt relief services in Atlantic Canada. Visit us today at http://www.solveyourdebts.com and get out of debt today!