Bryan P. Keenan & Associates, P.C.
Free, Fresh-Start Consultation 412-923-4941

Providing The Advice And Options You Need To Overcome Financial Problems And Move Forward

A bankruptcy attorney who cares about you and your future. Don't let debt problems disrupt and define your life.

Bryan P. Keenan

Strategically paying down credit card debt

Many Americans struggle with debt, especially credit card debt. For some, unchecked spending combined with the high interest and fees associated with credit cards can lead to financial pressure and anxiety. Pennsylvania residents are not immune to this situation, and anyone struggling with credit cards may benefit from strategically pay down credit card debt as soon as possible.

Although each consumer's situation will vary based upon income, overall debt and credit rating, everyone can take steps to lower their credit card debt. First, one should consider interest rates. If a consumer has two credit cards, he or she should pay the minimum amount due on the card with the lower interest and put more money towards the credit card balance with the higher interest rate. This will lower the interest one pays significantly over time. One can also consider transferring balances to a card with a lower rate, but consumers should read the fine print carefully to ensure that sudden jumps in interest rates or additional fees do not sabotage their attempt to overhaul their credit.

In order to find additional money in a budget to pay down credit cards, one should consider cutting back on expenses by taking certain steps, such as eating out in restaurants less frequently, canceling subscriptions or gym memberships, and reducing cable TV packages. By using this money to pay down high-interest credit card debt, one can try to make an impact on the balance, ultimately improving a person's credit rating and financial life.

In the case of consumer debt and bankruptcy, professional help could be the answer. Sometimes, in spite of a consumer's best efforts, simply reducing credit card debt may not be enough. Anyone feeling financially out of control may want to seek assistance from an attorney with experience in bankruptcy filings, which may offer protection from creditor harassment.

Source: USA Today, "Personal Finance: How can I pay off credit cards faster?", Robert Powell, September 02, 2014

No Comments

Leave a comment
Comment Information
Email us for a Response

Solutions May Be Just An Email Away

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Bryan P. Keenan & Associates, P.C.

993 Greentree Road
Suite 101
Pittsburgh, PA 15220

Phone: 412-923-4941
Fax: 412-444-0158
Pittsburgh Law Office Map