article thumbnail

We’re Debt Free [And How You Can Do It]

Credit Corp

The average American builds credit by opening a credit card account, acquiring student loan debt, or making car payments. Many people also live paycheck to paycheck , making it difficult to avoid applying for loans if they urgently need money. Here are a few ways to reduce the amount owed on debts from major purchases.

article thumbnail

Seven Ways to Get Out of Debt in 2022

Better Credit Blog

Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In other cases, such as credit card debt, it’s seen as a hardship and can have a negative impact.