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

In The News:

pen paper and inkwell


cat break through


Think for a Change

I'm not sure where it originated, but I've heard it... Read More

What is Bankruptcy?

Personal bankruptcy is a legal way to give people with... Read More

Bouncing Back from a CCJ

Should you be unfortunate enough to face a CCJ ?... Read More

Personal Debt Reduction Practices

Personal debt reduction practices, the steps people take to relieve... Read More

Why You Should Get Out of Debt Today?

The main reason for getting out of debt today, is... Read More

Debt Problems? You Can Negotiate With Your Creditors

It is always possible to negotiate with creditors ? even... Read More

Budgeting and Debt Management

Debt management (specifically unsecured) is the first step to taking... Read More

5 Ways to Get Out of Debt

It has been said that everyday more and more people... Read More

Debt Elimination 3

Planning To Achieve Debt EliminationOnce you have started the process... Read More

Bankruptcy - Your Fresh Start

Most American consumers are living too close to the edge.... Read More

The 5 Secrets to Getting Out of Debt Fast

As they stare down at a teetering pile of bills,... Read More

Christian Debt Consolidation ? Feel Comfortable About Managing Your Debt

Many Christians feel uncomfortable with the notion of being in... Read More

Debt Reduction, a Necessary Endeavour

Massive debt is something many Americans face. Debt reduction is... Read More

Is It Possible to Be Sued For My Debts?

It is possible for creditors and third-party collection agencies to... Read More

Debt Elimination Is The Key to Financial Freedom

If you want financial freedom, the first thing that you... Read More

New Bankruptcy Law ? Where?s the Consumer Protection?

On April 20, 2005, President Bush signed into law the... Read More

Currency Trading Fee Concept

Troubles with Global Economy; Do you see future problems with... Read More

The Simple $10 Debt Elimination Solution

Ask a friend what resolutions they made for 2004 and... Read More

New Bankruptcy Law ? Targeting the Wrong People?

Last April, President Bush enthusiastically signed into law the oddly-named... Read More

Debt: Dont Pay Your Minimum Balance

Almost all Americans carry credit card debt. Actually, over 40%... Read More

Bankruptcy: What You Need to Know

Personal bankruptcy is a legal way to give people with... Read More

Free Quick and Easy Money Saving Tips ? Part 1

With the high cost of gasoline and the amount of... Read More

Learn The Five Key Debt Reduction Steps You Must Take Immediately!

Step 1. The purpose of this first step is to... Read More

How to Protect Yourself: Debt Collections

So you are getting collection calls? You're desk is full... Read More

Is There Any Way To Get Out Of Debt?

In this era where we are bombarded daily with commercials... Read More

What Is A FICO Score?

Your FICO score or credit score as it's commonly called... Read More

The Last Debt Solution Should Be Bankruptcy

A debt solution like bankruptcy should really only be used... Read More

Debt Management - Is It the Right Choice For You?

Debt Management plans offer credit counseling clients a different and... Read More

Debt and Your Dreams

You may not realize what that credit card bill is... Read More

What is Debt Settlement?

Debt settlement is the process of negotiating with your creditors... Read More

UK Debt When Moving Abroad

The idea of moving abroad to escape debt seems to... Read More

Credit Card Debt Elimination

Credit card debt elimination can be done with a good... Read More

The Effects of Consumer Debt

Consumer Borrowing Consumer borrowing in the UK has now crashed... Read More