Credit card debt is notoriously difficult to pay off because of high-interest rates. With the Federal Reserve set to increase rates, it is about to get more difficult for many consumers. How are interest rate hikes likely to impact credit card debt? Federal Reserve...
Can debt collectors contact you through social media?
Social media has exploded in popularity over the past few years. In fact, according to the University of Maine, roughly 4.48 billion people worldwide currently use social media to connect with friends, relatives and even strangers. In 2015, that number was slightly...
What good habits can you form to avoid debt?
Credit card debt serves as one of the most common forms of debt in the country, with many people suffering from it at all ages and walks of life. Getting out of this debt can set your life in a better direction. However, the most important thing is knowing what to do...
Are your revolving balances on your credit cards too high?
As inflation continues to rise, it can be difficult not to use your credit cards. After all, the goods and services you use every single day are presumably more expensive than ever. Still, if you cannot pay off your credit cards monthly, you may notice an immediate...
Why should you track credit card spending?
Credit cards get a bad rap because a lot of people do not understand how to responsibly use them. However, the strategic use of credit cards can benefit you in a number of ways including helping you to build rapport with lenders. Tracking your credit card spending can...
Do credit card balances increase credit scores?
Of all the dangerous and misleading myths circulating about credit scores, one of the most damaging involves your balance. Unfortunately, many people hold a mistaken belief that carrying a balance on a credit card can actually increase your score. Interest-bearing...
How do you keep yourself out of credit card debt?
Digging yourself out of debt will undoubtedly serve as one of the most difficult financial hurdles you will overcome. Of course, once you find your way back out of it, it would make sense for you to avoid getting back into it at all costs. To this end, you can take...
Do you know your debt-to-income ratios?
For many Americans, money seems to be in short supply nowadays. Because most cannot afford to pay for even a $1,000 emergency, turning to credit cards is often the only option. If you have too much debt, though, you may worsen your financial situation considerably....
Taking legal action against a debt collector
If you are dealing with a debt collector, you likely have a number of hardships to work through. Aside from struggling with intense levels of anxiety and uncertainty, some people face hardships because debt collectors violate their legal rights. If you have...
What are some common reasons for credit card debt?
Many Americans deal with the stress that often comes with large amounts of debt and, in some cases, acquiring too much credit card debt, in particular, may make it difficult for individuals to secure loans for homes or vehicles because of how debt impacts their credit...
