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Posts tagged "minimum payments"

Getting help when Tennessee credit card debt becomes overwhelming


You may have done a good job of paying your credit card bill on time every month, until the unexpected happens. Medical bills, job loss, a car accident or home repairs can leave Tennessee residents struggling to make ends meet. What seems to be a temporary situation turns into many years of drowning in debt. Fortunately, bankruptcy is a quick solution that is available and has helped many consumers struggling with overwhelming credit card debt.

Bankruptcy and other ways to deal with credit card debt


When Tennessee consumers are struggling with overwhelming credit card debt, where should they turn? Bankruptcy, debt settlement and debt consolidation are touted as popular options. What else can be done to get a person back on track financially?

No emergency savings = high credit card debt


Although some Tennessee residents use their credit cards wisely, many tend to splurge on daily expenses. Then, when the bill comes, they can barely make the minimum payment. This leads to a vicious cycle of high credit card debt. Compounding this situation is the occasional emergency - the car breaks down, the dog has to go to the vet or a personal item is stolen and has to be replaced. Because these consumers lack the savings to pay these unexpected bills, they use their credit cards.