Credit Card Debt

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Credit Card Types • Debt Consolidation • Fixing Bad Credit

Excessive credit card debt is a serious problem for many families in America. In recent times, this problem has been exacerbated by worsening economic conditions. Credit cards are convenient money management tools that can help finance home improvements, higher education, and other short term cash flow requirements. However, credit cards do offer a temptation to live beyond one's means and run up large outstanding balances. Unexpected medical expenses and job losses are other common reasons for running up credit card balances quickly. In these situations, the resulting credit card debt can become difficult to manage, and in extreme situations, filing for personal bankruptcy may be the only solution available.

Recent Credit Card News

What to do if you're having trouble paying credit card bills during COVID-19 crisis
For many, the beginning of April means it's time to pay credit card bills. But what should you do if you may have trouble making payments due to the COVID-19 pandemic?
Jason Knowles. ABC News. Sunday, 05 Apr 2020 01:19:57 +0000.
Canada's big banks cut credit card interest rates to ease coronavirus impact
Canada's Big Six banks have said they will reduce interest rates on credit cards to provide relief to customers affected by COVID-19 pandemic.
CBC News. Saturday, 4 Apr 2020 18:55:15 EDT.

However, in most cases, help is available. You may be able to negotiate lower interest rates with your creditors for your outstanding balances. Credit counseling services may be able to work out a budget with you and negotiate with lenders on your behalf for lower interest rates, extended payment schedules, or even debt reduction. You may also be able to consolidate high interest rate credit card debt into a lower rate home equity loan. However, a home equity loan typically requires a lien on your house, and the lender may foreclose if you do not make payments on your home equity loan.

CreditCardDebt.us features a directory of credit counseling and debt consolidation resources. You are encouraged to read the referenced FTC articles about credit and debt. Before signing any finance or loan agreement, read its terms and conditions carefully, and consult with your attorney if you have any questions or concerns.

Debt Consolidation and Debt Counseling Resources

Crown Financial Ministries

Money management articles and resources, including The Dos and Don'ts of Credit Cards.
www.Crown.org
Debt Free Living

Debt-Free Living: How to Get Out of Debt – And Stay Out, by Larry Burkett.
www.Amazon.com

FTC Credit Information and Resources

Dealing With Debt

Learn about credit counseling organizations and find advice and guidance about selecting a credit counselor.
www.Consumer.FTC.gov
Free Annual Credit Reports

If you have ever applied for a credit card, a personal loan, or insurance, a credit file, known as a "credit report" exists for you. Learn where to obtain a government-authorized free credit report.
www.Consumer.FTC.gov

Credit Counseling Resources

NFCC

The National Foundation for Credit Counseling, through its member agencies, sets a national standard for quality credit counseling, debt reduction services and education for financial wellness.
www.NFCC.org
Christian Credit Counselors

This debt counseling ministry for families and individuals was founded in 1990 and works with both clients and creditors.
www.ChristianCreditCounselors.org

Black Credit Card with Security Features