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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. Table of Contents: What Is Credit Card Consolidation?

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Tips for Credit Debt Relief

Sawin & Shea

Factors like inflation, high interest rates, and economic uncertainty have found more and more Americans relying on credit cards to get by. In fact, Americans are at an all-time high when it comes to credit debt to the tune of $1 Trillion. On average, Americans individually carry about $7,951 in credit card debt.

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Can I File Bankruptcy on Just My Credit Cards?

Sawin & Shea

Credit card debt is a huge reason people end up filing for bankruptcy. The incredibly high interest rates alone plus the ease of procuring cards contribute to what can be a vicious cycle of maxing out limits, paying only minimums, and applying for more cards. But can you file for bankruptcy on credit cards only ?

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Debt Consolidation vs Bankruptcy: Which is Better?

Sawin & Shea

Also, if your credit score is already quite low, you may not be able to qualify for low interest which makes debt consolidation a useful method of debt management. How Does Debt Consolidation Work? Creditors do not have to participate. The issue with these programs is that they are voluntary.

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Americans Are Carrying Record Household Debt into 2024

Collection Industry News

household debt grew by $800 million from 2022 to 2023, including a 16.6% growth in credit card debt. While the new year marks a time for new beginnings and a fresh start, millions of Americans entered 2024 with more debt and less to put in their checking and savings accounts. At the start of the year, U.S.

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Credit Card Debt Forgiveness: What You Need to Know

Credit Corp

Credit card debt forgiveness, also known as debt settlement, involves negotiating with creditors to reduce the amount owed on your credit card balances. trillion in credit card debt. Here’s what you need to know about this option for managing your finances.

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Debt After Death: 9 Things You Need to Know

Credit Corp

What debts are forgiven at death, for instance? Can your family members’ creditors come after you now? Technically, personal debts aren’t forgiven at death. Credit Card Debt . Joint credit card debt passes straight to the other borrower. Notify Creditors and Credit Bureaus.