Best Banks in Austin Texas 78613
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Sherri Grocke
Jun 17, 2019, 5:25:35 AM6/17/19
to Guaranty Bank & Trust Austin 78613
Borrowers understand the problem with most solutions to out of control credit card debts all too well - the useful programs are also the most expensive. Filing for bankruptcy can cost thousands of dollars in legal fees above and beyond whatever the courts might charge. Meanwhile, debtors that need the service (as you'd expect) are those least likely to be able to pay. Debt consolidation of credit cards, though, is surprisingly inexpensive and may be the best alternative for a number of borrowers drowning in unpaid bills. In this article, we've put together some cursory information about the credit card debt consolidation program. This is just the tip of the iceberg, though. Interested debtors should always contact a certified professional in their area for a consultation in order to fully investigate their options.
Holiday debt is a real reality for thousands of Americans each year, but it doesn’t have to be the “ghost of holiday’s past” that haunts you into the New Year. With a little bit of planning, and a lot of careful diligence, you can get out from under that excess debt in no time. Here are our three simple steps to get you started:
1. Get Organized
The best way to tackle overwhelming credit card debt is to create a simple plan and stick to it. The first thing to do is take notes of your “must” expenses, such as rent or mortgage payments, groceries, and other outstanding debts. Total up how much that will come out of your monthly income and see what you’re left with. This will be your “flexible spending” budget you can use to pay off your credit cards.
2. Prioritize by Interest Rates
If you used multiple credit cards over the holidays, take some time to dive into each card’s fine print. Cards with higher interest rates will end up costing you more over time, so it’s important to prioritize paying them down first. Also make note of how long any “no interest” time periods on new cards will last, and what the rules are for remaining debt unpaid at that time.
Looking at your “flexible spending” budget, determine how much you can commit to your highest-interest rate card and note on a calendar how quickly you can afford to pay it down. Then, you can continue marking your calendar for the next card(s) until you have a clear schedule for paying down the rest of your debt.
Holiday debt is a real reality for thousands of Americans each year, but it doesn’t have to be the “ghost of holiday’s past” that haunts you into the New Year. With a little bit of planning, and a lot of careful diligence, you can get out from under that excess debt in no time. Here are our three simple steps to get you started:
1. Get Organized
The best way to tackle overwhelming credit card debt is to create a simple plan and stick to it. The first thing to do is take notes of your “must” expenses, such as rent or mortgage payments, groceries, and other outstanding debts. Total up how much that will come out of your monthly income and see what you’re left with. This will be your “flexible spending” budget you can use to pay off your credit cards.
2. Prioritize by Interest Rates
If you used multiple credit cards over the holidays, take some time to dive into each card’s fine print. Cards with higher interest rates will end up costing you more over time, so it’s important to prioritize paying them down first. Also make note of how long any “no interest” time periods on new cards will last, and what the rules are for remaining debt unpaid at that time.
Looking at your “flexible spending” budget, determine how much you can commit to your highest-interest rate card and note on a calendar how quickly you can afford to pay it down. Then, you can continue marking your calendar for the next card(s) until you have a clear schedule for paying down the rest of your debt.
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