Nov 6, 2019 | Credit Card Debt
A credit card is a revolving credit line that allows you to charge purchases at any time up to the credit limit. If used responsibly, credit cards can be a handy way to pay for purchases but can lead to spiraling debt if a healthy approach to credit is not...
Jul 24, 2018 | Credit Card Debt
When we meet with someone for a free consultation, we are often asked if it is necessary to stop using credit cards if one plans to file for bankruptcy. Bankruptcy is a complex area of law, but the short answer is: yes, you have to stop using your credit cards if you...
May 7, 2018 | Credit Card Debt
Credit cards are a financial product, and there are many credit card myths. When used well, credit cards can help your overall financial health. Benefits like rewards programs, price protection, and rental car deductible coverage make it worth having a credit card or...
Apr 27, 2018 | Credit Card Debt
The stress caused by carrying massive credit card debt that you simply cannot afford to pay back can be overwhelming. The financial burden usually comes with incessant collection phone calls, demanding letters, and can lead to being sued for unpaid debts and having...
Mar 23, 2018 | Credit Card Debt
Credit cards, when used wisely, can help your overall financial health. Of course, misuse of credit cards can get consumers into financial trouble. Is It Okay to Use Credit Cards to Fund Large Purchases? The answer to this question is: it depends. There are situations...
Feb 22, 2018 | Credit Card Debt
Americans who took on debt over the 2017 holidays reported an average of $1,054 new debt, according to a MagnifyMoney survey. This represents a 5% increase from the average amount of holiday credit card debt incurred in 2016. Do you have new or increased credit card...
Feb 7, 2018 | Credit Card Debt
If you are in a position to pay down your credit card debt, start now. If you are only able to make the minimum monthly payments or no payments at all, we encourage you to explore all of your options for consolidating your credit card debt. Trying to manage credit...
Jan 26, 2018 | Credit Card Debt
Credit cards are a great asset. They grant spending power and often come with valuable benefits like fraud protection and coverage for damage to rental cars. Though, credit cards can be a great liability without smart spending. Over-spending on credit cards can...
Jan 24, 2018 | Credit Card Debt
If you have been sued by a credit card company it is time to face your debt problem head-on. Once a credit card company sues you they can get a judgment from the court. Once they have a judgment they have the right to take powerful collection actions against you,...
Dec 29, 2017 | Credit Card Debt
Americans owe more than $1 trillion in credit card debt. According to a 2016 study, the average American family owes $8,377 in credit card debt. While credit card debt may be common, there is a difference between carrying debt forward that you have accounted for in...
Nov 28, 2017 | Credit Card Debt
It is not uncommon for us to be asked during our free consultation about using credit cards before filing for bankruptcy. Can I use credit cards before filing bankruptcy? Should I stop using my credit cards if I am filing for Bankruptcy? What if I just maxed out my...
Nov 23, 2017 | Credit Card Debt
Filing for bankruptcy lowers your credit score in the short-term and will remain on your credit report for seven to ten years. However, it is a myth that people who file for bankruptcy cannot get loans or credit cards after bankruptcy. After bankruptcy people are able...
Aug 25, 2017 | Credit Card Debt
The minimum payment is the smallest amount of your balance you can pay and still meet the terms of your credit card agreement. Making the minimum monthly payment allows you to avoid late fees and to have a good repayment history on your credit report. But the truth...
Aug 24, 2017 | Credit Card Debt
Hearing the words “you’ve been served” and being handed a stack of official court documents in terrifying for anyone. If you’ve been sued for not paying back a debt you may feel overwhelmed or helpless, especially when you know you defaulted on the debt. But you are...
Jul 26, 2017 | Credit Card Debt
Credit card companies make a lot of money. In fact, the Federal Reserve reports that earnings from credit cards are almost always higher than returns on all commercial bank activities. Today American consumers carry over $1 trillion in credit card debt. This is the...
May 19, 2017 | Credit Card Debt
Credit card debt is a drag. If you’re not paying your monthly credit card bill in full each month, you may wind up spending hundreds, even thousands of dollars, in interest charges. Consider this example: Say you owe $4,717 on a credit card with a 15% interest rate,...
