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Credit card debt is surging at a record-high rate

Collection Industry News

If you’re just making the minimum payments on your credit cards, it may be worthwhile to consider one of these debt repayment strategies. Americans are racking up credit card debt at a record-setting pace, according to the Federal Reserve Bank of New York. 3 ways to get out of credit card debt.

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8 Ways to Consolidate Credit Card Debt 

Credit Corp

Debt consolidation allows you to take multiple debts and combine them into one, and you can do this with your credit card debt. Doing this makes managing the debt a little easier, and you may be able to get a lower interest rate. Banks, on the other hand, generally require a good credit score to qualify.

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How to Get out of a Debt Spiral–11 Easy Things to Do [TODAY]

Credit Corp

First, look at your credit report. Next, you have to check your bank and financial statements to get an idea of your net worth. Look at your credit card statements and bank statements to know how much you have spent money and where. Credit counseling agencies offer this plan in exchange for a fee.