Credit Cards Credit Repair – 2 Steps to Freedom
If you are in financial trouble, it’s likely because you have abused your credit cards. Americans have the greatest number of credit cards per person; we are are also the people who have the most bankruptcies due to “plastic money.”
When you find yourself stuck with credit card bills that you cannot pay, take immediate remedial action. The biggest mistake you can make here is wait; every month that passes compounds the interest that you owe, decreasing your ability to pay off the debts even further.
Here’s what you should do:
1. Organize your money to pay all the dues in full. Preferably the money should come from low interest sources such as banks or friends. Remember you are paying about 13% compound interest on the credit card dues. This is HUGE!
2. Debt consolidation is better than bankruptcy. Unless you find a way to pay off the debts, these will soon engulf you and force you into bankruptcy. Do not let this happen.
