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You have just paid off your credit card and taken a big chunk out of your debt in the process. Congratulations! Now, you face a question: Does it make sense to close a paid-off credit card account?

It is legal for creditors to use debt collectors to help them collect money that is due to them. However, when attempting to recover money from you, some debt collectors may resort to unfair, deceptive, or abusive practices in an effort to intimidate you.

The Coronavirus Pandemic is causing financial hardship for many Americans, even forcing some to put important bills like rent on their credit cards. This could cause a massive increase in credit card debt when the pandemic is over.

Whether it's trying to maintain a certain lifestyle or prove your worth to others, it's easy to overspend. It's especially easy to stretch your financial limits in a society that encourages consumerism. Here are some of the most common reasons for overspending, along with some tips about what you can do to avoid these debt traps.

Getting a debt consolidation loan can be tricky. Like other types of debt management plan options, approval for the best debt consolidation loan is dependent on factors like your credit score and debt-to-income ratio. When you are already struggling to pay your creditors, you may not qualify for a debt consolidation loan that will really help you.

If reducing your credit card debt is one of your goals, turn it into a SMART goal to make it easier and simpler to achieve. By doing that, you will pluck debt resolution out of the domain of dreams and plant it firmly into reality.

A simple Google search on “debt settlement feedback” reveals that people either love or hate their debt settlement company.

Credit cards are practical and make life easy. You can pay for groceries, holidays, and shopping with your credit card while also paying off the credit balance at the end of each month. But what happens if you can’t afford to pay the balance in full? What happens if you only pay the minimum payment and the credit card balance starts ballooning? Are you in too much credit card debt?

Some may view bankruptcy as a reasonable and common way out of debt and an opportunity for a fresh start. The damage bankruptcy does to your finances, however, is life-disrupting and lasting.

Debt relief and debt repair come in many shapes, including debt management and debt settlement. Debt management usually comes with a debt management plan (DMP) that lasts for up to 5 years: during this time, you are expected to repay your debt on more favorable terms. Debt settlement aims at settling your debt whereby you repay only part of your debt.