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Keep Your Resolution to Keep Credit Card Debt in Check

Law Office of Ronald V. De Caprio Jan. 6, 2017

Every year Garnerville residents have a chance to start fresh as the new year rolls around on the calendar. Well, that chance just happened and along with plans to get healthy, reconnect with old friends and get ahead in their careers, many individuals make plans to become more financially savvy. One way that New Yorkers can take control of their finances is by getting their credit card debt under control, but doing so can be a lot more challenging that it may at first appear.

For example, although having a credit card can be an effective way to work on building credit history, it can also be a very damaging way to fall into debt. Credit card balances can blow up as individuals make purchases and can become unwieldy for those who do not have the incomes to pay off their bills. Just making the minimum payments can be an ineffective way of getting back to a zero balance on one’s credit card. With so many hurdles to overcome, a person may not know where to start when it comes to managing their credit card balances.

One proactive step that credit card holders can take is to be mindful of what purchases they use their cards for. Some individuals try to use cash for consumable purchases, like food and toiletries, so that those charges do not linger on their credit card balances long after the purchased goods are eaten or used up. It can also be helpful for card holders to only charge sums that they can afford to pay off to avoid going into long-term credit card debt.

Staying out of credit card debt can be more challenging that it seems. For those individuals who require assistance getting onto strong financial footing in 2017, debt relief options may be available. Readers of this bankruptcy law blog may wish to contact their personal attorneys for guidance on how best to approach their overwhelming and burdensome credit card debts.