You vs Debt, Who's In Control
- Author Eric Tsan
- Published July 4, 2010
- Word count 407
Are you currently in debt? Do not for a second think you are alone because the average American is in more debt than ever in history. Why is the economy the way it is right now? The average American has about 6.5 credit cards on average with the average household using about 14 credit cards. Record breaking bankruptcies are occurring more often than we'd like, debt for credit cards and loans are topping $1.8 trillion while mortgage debt is topping $6.7 trillion.
20 years ago, bill collectors were out collecting about $73 billion in overdue debt. This year, bill collectors are going for more than $2 trillion!
There is a very good chance that you have at least one credit card in your wallet right now. The decision to take control of your credit can mean the difference between having a no interest car loan for 5 years or having a high interest car loan that you will be stuck with for the rest of your life!
There are some key factors to determine if you are in trouble with your debt and also some solutions to help out.
You pay with your card at places where you used to pay with cash for things like groceries or food:
-
Leave your credit cards AT HOME. Do not put small transactions on credit, they will definitely add up! Stop using your credit cards immediately and start slowly paying them off! You have no idea how much debt you owe:
-
Find out! Start figuring out how much you owe and to who. Track everything down and pay each company off. It will be difficult at first but it will definitely be worth it in the end.
You put off paying your utility bills and other necessities to pay off high credit card debt:
- Work with the credit companies. They don't want to send your debt to collectors if they don't have to because they want to get paid back for the money they lent you. If you are in a bad situation, call them and talk to them. They don't mind if it will take you longer to pay them back and you need a payment plan.
As long as they get their money, your debt won't go to collectors and everybody is happy. Always call your credit card companies, they will do their best to help! If you call and the first person doesn't help you, call them again! I guarantee somebody will!
Eric has been writing articles about Internet Marketing for years. He is a contributor to Secrets of Osiris which gives techniques for creating an effective squeeze page and landing page.
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- Understanding Cocaine: Effects, Risks, and Treatment Options Introduction
- 3 Great Passive Income Ideas for New Moms and Dads in 2024
- Avrex IO Redefines Real Estate Investment with Innovative Tokenized Ownership Approach
- Panama City's Real Estate Market: Top Neighborhoods for Investment
- Investing in a Condo or Villa in Pattaya, Thailand
- Tabania Group Rings in the New Year with a Powerhouse of Financial Services, Unveiling a Comprehensive Suite for the Digital Age
- To What Extent Has Economic Growth Improved Quality of Life?
- How to Manifest Wealth in Your Life
- Unlocking the Potential: Making Money Online with Your Phone”
- Blue economy of the world
- This Financial “FORMula” Will Help You Plan Around What Matters Most
- Losing a Parent: A Checklist and Timeline of the Financial Aspects to Address
- How to Avoid Lifestyle Creep: Try this 50/50 Rule for Saving & Spending
- (Money) Date Night: Why You Need One and 5 Topics to Discuss
- Private Placement Life Insurance (PPLI) in Offshore Trust More Useful Than Ever
- Indexed Insurance Policies Hedge against Inflation
- Should You Invest Abroad? A Complete Guide to Buying Investment Properties in Thailand
- What Are Your Retirement Planning Options?
- Daily Income Opportunity With U-Farm
- Building a Comfortable Retirement: Tips and Strategies for Investing in Your Future.
- Revocable Living Dynasty Trust (RLDT)
- Key Retirement & Estate Planning Tools
- Captive Insurance -- Details
- INDEXED UNIVERSAL LIFE INSURANCE (IUL) ADAPTS TO INFLATION AND HIGH INTEREST RATES
- GRANTOR ACCESS TO IRREVOCABLE TRUSTS -- EASE THE STRESS OF COMPLETED GIFTS
- CASH BALANCE PLUS PLAN
- Tax-Free Income Making More Sense in Global Financial Crisis
- Dynasty Trusts Guard Personal Autonomy in Hierarchic Society
- Captive Insurance Company, CIC -- Reduce Taxes and Build Wealth
- What is an RESP?