American consumers have lots of credit cards.
In fact, statistics say that at least 14% have more than 10 of them in their wallet.
When one has maxed out, another one will work so it is no surprise that unsecured debt in this county is well over 2 trillion dollars.
Facts also say that more than half of American consumers use two or more credit cards regularly, and that credit scores on average are down about 30 points.
Consumers are carrying the debt month to month, paying minimums only, and are often behind in payments.
By the time they realize there's a problem, it doesn't work to just cut up all but two major cards.
It often takes credit card counseling.
Credit card counseling can be educational as well as providing avenues for debt relief, and while every consumer situation is different, the trends are much the same.
Over use and under payment.
Working with counselors, the consumer can obtain more of an over view of their situation.
Surprisingly, that seems to be one of the most difficult things for them to do.
Whether it is denial or whether it is being overwhelmed, many cannot do it on their own.
In credit card counseling, the whole will be looked at.
By providing details of income, assets and expenses, it becomes easier to understand the debt.
Good credit card counseling will entail personalized options that are based on the consumer's ultimate goals whether they are in hopes of purchasing a home or rebuilding a good credit rating.
If necessary, it may be recommended that the consumer go through debt management or debt settlement as a means to reduce the debt and pay it off.
These programs are more and more popular, and a good counselor never makes a consumer feel embarrassed for utilizing them.
The consumer who has problems and opts to seek out credit card counseling is looking toward the future.
Realizing weaknesses, and getting them under control is a long term project, but one that can pay off in years to come.
In both debt settlement and debt management, it is normal to be out of debt in 12 to 36 months, and that isn't so long to feel real financial freedom.
When searching for counselors, check credentials and affiliations as they are good indications of how reputable they are.
Know that non-profits aren't always real not for profit companies, and be selective and knowledgeable in choices.
In fact, statistics say that at least 14% have more than 10 of them in their wallet.
When one has maxed out, another one will work so it is no surprise that unsecured debt in this county is well over 2 trillion dollars.
Facts also say that more than half of American consumers use two or more credit cards regularly, and that credit scores on average are down about 30 points.
Consumers are carrying the debt month to month, paying minimums only, and are often behind in payments.
By the time they realize there's a problem, it doesn't work to just cut up all but two major cards.
It often takes credit card counseling.
Credit card counseling can be educational as well as providing avenues for debt relief, and while every consumer situation is different, the trends are much the same.
Over use and under payment.
Working with counselors, the consumer can obtain more of an over view of their situation.
Surprisingly, that seems to be one of the most difficult things for them to do.
Whether it is denial or whether it is being overwhelmed, many cannot do it on their own.
In credit card counseling, the whole will be looked at.
By providing details of income, assets and expenses, it becomes easier to understand the debt.
Good credit card counseling will entail personalized options that are based on the consumer's ultimate goals whether they are in hopes of purchasing a home or rebuilding a good credit rating.
If necessary, it may be recommended that the consumer go through debt management or debt settlement as a means to reduce the debt and pay it off.
These programs are more and more popular, and a good counselor never makes a consumer feel embarrassed for utilizing them.
The consumer who has problems and opts to seek out credit card counseling is looking toward the future.
Realizing weaknesses, and getting them under control is a long term project, but one that can pay off in years to come.
In both debt settlement and debt management, it is normal to be out of debt in 12 to 36 months, and that isn't so long to feel real financial freedom.
When searching for counselors, check credentials and affiliations as they are good indications of how reputable they are.
Know that non-profits aren't always real not for profit companies, and be selective and knowledgeable in choices.
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