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Credit Card Debt Archives

Consumer debts leading to wage garnishments nationwide

Pennsylvania readers might be interested to learn that, according to ProPublica and National Public Radio, 10 percent of working people in the U.S. aged 35 to 44 are subject to wage garnishment. Many of the garnishments are because of student loans, medical or credit card debt.

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.

More than one option available for credit card debt relief

Credit cards have a way of being people’s closest comrades and simultaneously being their worst enemies. This is because the more that credit cards are used, the more people can buy and pay for. However, it also means that people incur more debt. Credit card debt may be particularly troubling if a person begins to have his or her wages garnished in order to pay back his or her financial obligations.

Bankruptcy may help individuals and business owners

People naturally have a desire to succeed financially, whether they are focused on building their businesses or simply building their households. That’s why facing extensive debt can be disheartening and make an individual feel frustrated. Filing for bankruptcy is often a responsible way of handling this unmanageable debt, in Pennsylvania and elsewhere.

Credit card debt may be okay in certain situations

People in Pennsylvania are generally aware that debt on a credit card is undesirable. A majority of credit cards charge high interest rates, which makes it expensive to maintain a balance on a card from one month to the next. Credit card debt may also negatively impact one’s credit score, especially if the person’s cards are maxed out. It’s best to use credit cards in only a few select situations.

Bankruptcy may be beneficial to consumers with high debt

Being in debt in Pennsylvania can feel like being in an inescapable deep hole. The more a person may try to climb out of the financial hole, the more he or she may feel behind due to high credit card interest rates and inadequate income. There are a few signs that a person may benefit from filing for bankruptcy in order to finally remove his or her debt.

More people paying off credit card debt, research shows

Using credit cards is one of the easiest way to rack up thousands of dollars in debt. This is especially true if a person in Pennsylvania encounters a financial emergency that requires use of a credit card. However, credit card debt is one of the hardest types of debt to eradicate because of the high-interest rates often tacked onto these cards. Research shows that an increasing number of people in America realize this and are becoming more conservative in their credit card usage.

Personal credit card debt totals thousands of dollars on average

There’s good debt in Pennsylvania, and then there’s bad debt. Good debt, such as a mortgage, eventually leads to an asset once the debt is paid in full. When it comes to credit card debt, on the other hand, a person typically ends up paying more than necessary for a purchase over the long haul without getting any more benefit from doing so. People are generally aware that credit card debt is worth targeting first when trying to get out of debt.

Credit card debt relief possibly by tapping into savings

An adult may look back on his or her childhood and reminisce about not having a financial care in the world. With adulthood comes financial responsibility, and when a person is in debt, he or she may feel hopeless and agitated. It is possible in some cases to experience credit card debt relief simply by taking a couple of basic steps in Pennsylvania.

Balance transfer cards may help with credit card debt

Personal finances are stressful for both young adults and older individuals alike. This is particularly true for those who are confronted with large amounts of credit card debt that they can't seem to overcome. In some cases, people in Pennsylvania may opt to use balance transfer cards to transfer high-interest debt to zero-percent-interest cards.

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Bryan P. Keenan & Associates, PC

993 Greentree Road
Suite 101
Pittsburgh, PA 15220

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Phone: 412-923-4941
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