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November 2016 Archives

Credit card debt and the holidays go hand-in-hand

Most people enjoy the holiday season, but for some it can be a time of year when the desire to make family members and friends happy with the right gift can also lead to an increase in credit card debt. A recent article noted the connection between the holidays and credit card debt, and offered a few tips to avoid certain mistakes when shopping for gifts this season.

Will paying the minimum payment get you out of credit card debt?

Everyone has bills to pay, and most people try to make sure they pay those bills on time each month. While failure to pay the electric or water bills might mean those services get cut off temporarily, failing to pay other bills, like a mortgage or a car loan, might result in even greater consequences, such as foreclosure or a car being repossessed. But what about credit cards? What are the consequences for those bills? Will paying the minimum payment each month ever get you out of credit card debt?

Are credit card rewards really worth the debt you'll accrue?

Tens of millions of Americans have at least one credit card. Using credit cards for purchases of all kinds is so common that it is estimated that Americans as a whole owe hundreds of billions of dollars in credit card debt. For some, credit cards are considered an absolute necessity - they wouldn't be able to make ends meet without them. However, for others credit cards are used for the all-important "rewards" they offer. Bonus points, cash back and travel incentives are all very common rewards that credit card companies use to entice consumers to make purchases. But, are those rewards really worth the debt that will be accrued with credit card use?

Paying down credit card debt can help rebuild credit score

Many people in Escondido are looking for ways to address their financial challenges. For some, they may be getting behind on their mortgage payments. For others, student loan repayment has become a real issue. But, for many, the greatest financial problem they have is credit card debt.

Helping Escondido residents find debt relief through bankruptcy

There is no shortage of options for Escondido residents who find themselves facing financial hardships. Some will consider debt consolidation options, while others may try to shift credit card debt from one card to another under a favorable balance transfer offer. Many will institute a strict household budget, tamping down on expenses and savings in order to devote as much money toward paying down debt as possible. However, for some individuals and families in Escondido, the debt solution they need may come from a bankruptcy filing.

Can child support be discharged in a Chapter 7 bankruptcy filing?

Escondido residents who are exploring the possibility of filing for bankruptcy typically have a lot of questions about the process. Many will want to know how long the process can take. Others will want to know if filing for bankruptcy really will address all of their financial issues. And almost everyone will want to make sure that the debts they hold will be discharged.