Is My Credit Card Debt A Problem?

For most Americans, credit card debt is a dangerous and growing problem. The average American family has more than $8000.00 in credit card debt and spends more than they earn on a annual basis. Credit cards can be useful tools when they used properly, but more and more Americans are getting in over their heads and threatening their financial futures. It is important to realize that just because you can pay your minimum payments each month doesn't mean you don't have a credit problem. Low minimum payments benefit the credit card company, not the consumer. The following are some of the warning signs that you have credit or debt problems:

* You are unable to put any money in savings

* You make only the minimum payments on your credit cards

* You use increasing amounts of your total income to pay off your credit card debts

* You use credit cards for things you should buy with cash, such as groceries

*You have more than two or three major credit cards and have balances on all of them

* You're at or near your credit limit on most if not all of your credit cards

* You're unsure of the total amount you owe on your credit cards

* You've taken out cash advances on credit card to pay other bills

* You've been denied credit due to your debt to income ratio

* You get calls from collectors about your credit cards

Alan Barnes
IAPDA Certified Debt Arbitrator
President and CEO of Debt Regret
http://www.debtregret.com

---

Individual Voluntary Arrangements- A New Alternative to Bankruptcy

This May, the Department of Trade and Industry in the UK found that there were 10,091 bankruptcies in the first quarter of 2005. This represents an increase... Read More

Debt Consolidation and Personal Finances: Learn the Truth!

An inability to manage credit, growing debt and bankruptcy are all major problems today. On an average day, over 8,000 people file bankruptcy in the United States... Read More

Dont Drown Your Debts, Manage Them!

Are you among the millions of people who have found themselves unable to make even the minimum payments on credit cards and other unsecured debts? If so,... Read More

Fast Track Out of Debt

You go to the mail box and scan - a couple fliers (nah), your magazine subscription (yes!) and bills (groan). Every month the bills show up and... Read More

How to Get Triple A Credit in 25 Days

Good credit is everyone's dream. A wise use of credit can go a long way. It certainly makes certain goals in life (like acquiring business loan from... Read More

Think for a Change

I'm not sure where it originated, but I've heard it repeated time and time again: Insanity is doing the same thing over and over and expecting different... Read More

Should You Invest In Savings Or Payoff Your Debts?

I have faced this financial question 8 years ago and recently I have friends asked me this same question. I think I should write it up so... Read More

Credit And Debt Relief--A One Stop Solution

Amy Wright, 34, was extatic when her realtor showed her the three bedroom townhome overlooking the lushious golf course. It was exactly the home she was looking... Read More

Credit Card Debt: How to Get Rid of It

This method is simple, but requires some discipline.First, you have to stop any new spending on your cards.Second - you'll need to examine all of your spending.... Read More

Get Debt Free

If you once have been caught in the debt trap, how do you come out of it and be debt free? We are different and each of... Read More

Five Major Ways to Save Money

There are two main roads to improving your personal finances: increasing income, and cutting costs.Increasing income is the harder road to travel. After all, you can't always... Read More

What Are The Benefits and Consequences Of Getting Rid Of Debt The Easy Way

We have all experienced getting so far in debt we don't know how we're going to get out. There are many different options that you have for... Read More

Credit Counseling or Bankruptcy: Which is Best for You?

People often get to a place where they simply can't pay their bills, especially in today's economy which is not particularly sympathetic toward the poor or even... Read More

How to Reduce Your Debt in 5 Easy Steps

If you have incurred substantial personal debt, consider these options: budgeting, debt consolidation, credit counselling from a reputable organization and working with your creditors. You will need... Read More

How to Choose a Debt Settlement Company

As consumer debt continues to spiral out of control, debt relief is fast becoming a major concern for many American's. In 1999, American's made $1.1 Trillion worth... Read More

Establish Money Saving Goals For Added Success

Having something tangible to strive towards can work wonders for your money-saving efforts. To those of you that have already been actively implementing money-saving tips in order... Read More

Is Filing for Bankruptcy an Option for You?

Bankruptcy laws give debtors a way to resolve debt by dividing their assets among their various creditors and in some cases will allow debtors to be freed... Read More

How Do I Lower My Debt Burdens?

How do I lower my debts?There are several ways of improving your credit status. If you have decided upon taking up firm steps to decrease your debts,... Read More

Debt Validation: Do you have to pay ?

It happens all the time. Debt collectors try to collect on debts that consumers have no knowledge of or never owed in the first place. So, what... Read More

Debt Collectors; And what you can do to Get Them Out of your Life

FTC opinion letter on validation Section 809(a) of the FDCPA, 15 U.S.C. § 1692g(a)This will be a pretty long lesson and will cover an integral part of... Read More

Free Quick and Easy Money Saving Tips ? Part 1

With the high cost of gasoline and the amount of money needed to lead a comfortable life slowly increasing many consumers may be worried about how to... Read More

Purchase Your Future Now While It Is Still Inexpensive

Leaving school, getting a new job, or even a raise at your current one, has most people considering their next great purchase. Few think about the affect... Read More

How to Deal with Bill Collectors

So you've screwed up. You're drowning in debt. Maybe the credit card was burning a hole in your pocket and you just had to get the HDTV.... Read More

Eliminating Credit Card Debt

The overwhelming task of eliminating your debts can often seem like an uphill battle. Without the knowledge and expertise of a professional on your side, unfortunately, the... Read More

Bankruptcy: What the New Law Means to You

On April 20 of this year, President Bush signed a bankruptcy reform law. When this law goes into effect in October of this year, it will be... Read More

How to Negotiate Debt Settlement

People over extend themselves financially as a result of a change in their lifestyle. In today's economy were company mergers, and such; creates a displacement and hardship... Read More