Free Website Content » Finance » Credit Card Debt Articles

Print This Article
Publish This Article

Eating Away At Debt

By: Lee Dobbins

If your debt is out of control you must take some time to seriously think about your situation. Think before you charge anything and stay alert to the charges on your credit report.

Don't stop paying your debt all together - paying something toward your bill is better than avoiding your obligations. If you take review your bills and compare to your funds and decide that you do not have enough to pay the entire amount of the bill, you might be able to pay the minimal balance temporarily.

If you have a bill and the money to make payment tell the creditor that you intent to send the money via regular mail immediately - and do so. Creditors prefer that you phone them to negotiate payment schedules and sometimes creditors will even lower your monthly payments, or even your bill.

Ignoring your bills will only make things worse and does nothing to help repair your credit.

If you are obligated to income tax be aware, the IRS can take your money. This means each year that you miss payments are at default the IRS will deduct your entire tax refund to repay the debt.

If you miss payments on Insurance Policies and you have conditions stipulated on that policy you may be at risk of loosing your property.

There are two types of debts that eat away at our money, and understanding these debts is important to repairing your credit.

Some Department Store Credit Cards are secured, in that they ask you to put up collateral if you miss payments on the merchandise purchased.

If you have a Mortgage and feel that you can't make ends meet, you might want to check into some of the options available from your lenders.

Again, the most important tool for getting out of debt is to keep close watch over your bills, payoff any secure bill first, and work through each bill as you go.

Author Bio
Lee Dobbins writes for For Your Wealth where you can find more information on money, taxes and wealth related subjects.

Article Source: - Free Website Content

Related Credit Card & Credit Card Debt Articles

Acting Smart With Your Credit Card
Is Bankruptcy The Right Way To Go? You Decide
Beating Debt with a Stick
Consolidate Your Credit Card Debt
Adverse Credit Debt Consolidation Loan to Mitigate Ills of Bad Credit
Credit Cards: Non reward Type vs Reward Type
Secrets Credit Card Companies Don't Want You to Know
Credit Cards: Low APR vs 0% APR
Credit Card Minimums not Doubling, but Might Still Hurt
Credit Problems, What You Can Do
Did You Score Credit Today?
Debt Consolidation Tips: An "All in one" Guide!
Debt Problems - Learn How to Deal with Them Boldly
Can a Debt Consolidation Loan Help Your Credit Record?
Eating Away At Debt
Fantasy Credit Report
The Truth About "Free" Credit Reports
Free Debt Consolidation Services
Essential Tips on How to Get a Credit Card
How To Manage Your Debt
Everything About 0% Intro Rate Credit Cards
Keeping Your Credit Clean
Need More Credit, Come And Get It
Cutting Back Today Can Get You Out Of Debt Tomorrow
Plastic Debt (credit card debt)
The Real Cost Of Your Debt
Need to reduce debt? Consider a home equity loan.
5 Tips for Repairing Bad Credit
Play the Credit Card Game and WIN
Tips On Reducing Your Current Debt

©2006 Free Website Content - All Rights Reserved

Free Website Content
Home / Free Articles
About Article Geek
Contact Us
Latest Articles
Link to Us
Privacy Policy
Site Map

Your Account / Login
Article Tips
Author TOS
Article Benefits
Editorial Guidelines
Submit Article

Publisher TOS
RSS Feeds

RSS Feed Parser

Resource Directory - Free Website Content