Trying to pay off the holiday purchases you made on a credit card is likely going to be a priority right after the holiday is over. You have to think about the ways that you are going to handle the situation so that you don't make errors that could cost you dearly in the long term.
Many people think that having money means that they aren't going to ever run into financial troubles. This isn't anywhere close to the case. Think about professional athletes. These individuals make millions of dollars to play ball, but many of them end up having to file for bankruptcy protection.
Bankruptcy protection has a negative stigma attached to it. This shouldn't be the case because bankruptcy is a valuable tool for people who are swimming in debt because of reasons they can't control.
You had a lot of credit card debt when you got out of college. You were just too busy to work, you didn't really grasp what all of that debt would mean, and you put everything on your cards.
One of the federal requirements for Chapter 13 bankruptcy filers is that you have filed all of your tax returns within the last four years of your filing. You must also file all tax return that are due following the initiation of your bankruptcy proceedings.
One thing summer sees a lot of are people taking vacations. One thing individuals may want to keep in mind when planning a summer vacation is finances.
Arizona credit cardholders might be interested in learning more about why credit card interest rates sometimes increase. In some cases, it is because a promotional APR has expired, so the cardholder is being charged the normal rate. Another reason is because the cardholder has missed two or more payments and is being charged a penalty rate. Those who are charged a penalty rate may have their rate reduced if they make on-time payments for six months or more.
On March 10, the results of an extensive study by the Consumer Financial Protection Bureau were released. The CFPB found that binding arbitration clauses in consumer contracts severely limit their ability to be able to sue a creditor in the event of a legal dispute.
Arizona residents may not be aware of the best ways to reduce debt. Consolidating debts and cancelling credit cards can help, but if certain precautions aren't taken, the result could be more harmful to a credit score in the end. It is possible that individuals attempting to consolidate their debt may be close to making their debt problems even worse. Pinpointing what the goal is when choosing to consolidate may help to avoid pitfalls.
Arizona residents who owe thousands of dollars in credit card debt are not alone, according to a recent analysis of Federal Reserve statistics and government data. As of December 2014, the average household in the United States has $7,281 in outstanding credit card debt. When the households without any debt are taken out of the equation, the average household owes $15,608 on credit cards. In total, Americans owe approximately $881.8 billion in credit card debt as of September 2014.