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October 2018 Archives

Credit card offers can lead to debt

When people in Louisiana sign up for a rewards credit card, they may not realize how easy it can be to wind up with an insurmountable amount of credit card debt. When people receive a signup bonus or other incentives to start using a new card, it can be easy to choose what appears to be a great deal. However, when early promotional periods come to an end and interest starts to rack up, people may find themselves in trouble, facing late payment charges and seemingly endless collection calls.

Women struggle with mounting credit card bills

Louisiana women with mounting credit card debt are not alone in their struggles. Even though Americans of all genders are widespread users of credit cards, more women credit card holders are concerned about their ability to repay their mounting debt burdens. Across the country, credit card debt is at the second-highest point it has been since 2008, when a major financial crisis shook the American economy. Indeed, in one quarter in 2018, Americans accumulated $30 billion in personal consumer debt.

Credit cards can help build credit when used wisely

Credit cards provide Louisiana residents with a straightforward and convenient way to borrow, but interest charges and fees can mount quickly if revolving balances are not paid in a timely manner. Using them wisely can also help to build credit, and the rewards programs that many lenders have in place give consumers more reasons to charge their purchases.

Is credit card debt settlement a good idea?

Many people in Louisiana are struggling with excessive amounts of credit card debt. They may have difficulty meeting their payment obligations on a monthly basis, racking up late fees and other additional expenses. When accounts begin to head toward default, creditors may agree to settle the debt for less than the full amount owed, especially when it comes to the amounts garnered through fees and interest charges. While debt settlement can be an attractive option for people to handle some of their debts, it may not always be the best choice.