Christmas debt is something that many Americans will accumulate at the end of the year. While there isn't really anything wrong with this, there is sometimes a problem in January when the credit card bills start coming in. This might bring up the question of how to handle that debt so that you can get the cards paid off quickly.
Some people try to do anything they can to avoid having to file for bankruptcy. While this is a good thing for many, it is imperative that you make sure that you have a viable option that isn't going to lead to you being scammed. There are some unscrupulous companies out there that prey on your desire to avoid bankruptcy.
When you have a high debt load, you have to think carefully about how you are going to pay that down. There are many options that you have, but you must consider how various options will impact you now and into the future. Finding the best order to pay off bills is challenging, but it will be worth it as you see your debts trending down.
Finding a way to pay off your debts can be a challenge. When you are ready to get everything taken care of, you might need to explore options that enable you to make more than just the minimum monthly payments. There are some debt relief companies that will offer to do this for you; however, many of these are unscrupulous companies that prey on people who are trying to get debts paid.
We recently discussed some of the tips you might use when you are battling high credit card bills. One thing that many people don't realize is that there are times when offers that you receive might be too good to be true. Trying to use one of these means that you are going to be scammed out of your hard-earned money.
Have you ever sat down with your credit card bills and added up what you have due for minimum payments each month? This is often a troubling realization, especially if you have multiple cards. There are ways that you might be able to handle this situation if you find that you aren't able to keep up with the minimum amounts due.
According to a new survey by NBC News and GenForward, about 75 percent of American millennials (those between 18 and 34 years old) have some sort of debt. Further, many are postponing major life events like buying a home, getting married and having children because of it.
Debt collection is not illegal, but some of the methods used by debt collectors are. According the Federal Trade Commission (FTC) and the Consumer Financial Protection Bureau (CFPB), in 2017, consumer complaints about debt collectors were in the thousands; CFPB took about 85,000 complaints alone. Investigations into the complaints revealed numerous violations of the Fair Debt Collections Practices Act (FDCPA).
If you had to guess what category holds the largest debt for Americans, most of you would probably guess it was mortgage debt. You would be correct. But you may not as easily guess that the second debt category is student loans.
If you are suffering from debt overload, you know what it is like to have creditors calling all hours of the day and night. How many times can you tell them you don't have the money, and then sit and listen to a lecture on how serious the situation is? Creditors are trained to be aggressive and somehow convince you into coming up with the money or pledging a promise to pay. Seldom do they take your personal situation into account.