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Our credit card debt management programs can usually get you out of debt in 36 months or less! With our program, it's possible to reduce your current debts 40-60%. Our staff of 90 plus employee's are trained to uphold the highest expectations of customer support, dependibility and proffesionalism.
Today, American consumer's credit card debt gives thanks to the incredible number of young adults who have maxed out credit card bills and loans. Part of the college experience these days is getting a first credit card. That first credit card quickly sprout's into four or more credit cards. Four is now the average number for graduate students. Undergraduates average three credit cards. Twenty percent of graduate students have debt between $6,000 and $15,000. fortunately Citizen Debt provides a proven credit card debt practice that has helped many American's find debt relief and escape the possibility of bankruptcy, for credit card debt help or information regarding our service speak with a debt consultant today by calling toll free: 1-800-459-1137.
Citizen Debt requires it's clients to make a list of all their debts and the interest rates. We also also request clients to keep a list of daily spending to track income being spent.
Many clients get caught in what's referred to as a "downward spiral." Credit card balances continue to go up because the minimum balance is not being paid and late fees and overdue balance fees are tacked on, leaving you the debtor with little to no options. If your credit card debt is beginning to accumulate an overwhelming amount it may be time to seek a professional credit card debt service. Citizen Debt offers a flexible debt management program that combines your existing unsecured debt into one affordable lowered monthly payment.
Our clients have reported using school loans to pay credit card bills, and also wrote checks from their credit card companies to even pay the rent. If you feel threatened by credit card companies, are behind in credit card payments or have unpaid bills you would care to address then contact our credit card debt help & information line by calling toll free: 1-800-459-1137.
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Avoiding Credit Card Traps
If you're burdened with a lot of credit card debt, you may find yourself wondering, whether you'll ever see daylight again. Late payments on credit cards have reached their highest level in five years, and losses on uncollectible debt have reached an 11-year high. If you're struggling to stay above ground, here are some common credit card traps to avoid:
Penalty fees
Late-payment fees have risen 7% in the past year, according to Consumer Action, a San Francisco-based consumer advocacy group. The amount ranges from $10 to $35 for each late payment. In the past, some lenders gave their customers a five- or 10-day window after the due date. Now, many are as relentless as a collection agency. Late fees can inflate your balance, making it harder to pay off.
How to Avoid Late Credit Card Fees
How to avoid late fees: Pay your bill as soon as it arrives. If you're not sure what you can afford, send in the minimum payment, You can always send in a second payment later in the month. In the meantime, you've protected yourself against a late penalty. Arrange for online bill payment or automatic withdrawal from your bank account. If your paycheck arrives too late to make the monthly payment deadline, ask your lender to change your payment due date. For example, if you get paid on the 10th of the month and your due date is the 12th, ask your lender to change it to the 17st, make the request before you fall behind on payments. "If there's a strong pattern of late payments, they won't be as receptive to moving the due date.
Keep track of your credit limit
Shop with caution! Even if you pay your balance on time every month, exceeding your credit limit by as little as $1 can trigger a penalty fee. If you travel often and routinely run up a big balances, make sure your credit limit is sufficient to cover emergencies. Some borrowers now offer special cards that allow users to exceed their limits without penalty. These cards are typically reserved for borrowers with good credit ratings.
Over due payments can trigger an even harsher punishment than late fees: sharply higher interest rates. Penalty rates can run as high as 29%, according to Consumer Action.
If your credit card debt is too large, other lenders won't approve a balance transfer to a low-rate card. Instead, you'll be stuck with the high rates for six months or longer.
This could turn into a disaster or potentially harmful financial situation. "With the higher interest rate, you can get deeper and deeper in debt."
Worse, the credit card issuer may boost your interest rate if you're behind on your other debts, even if your record with that lender is clean. Many card issuers monitor customer's credit reports and will increase your rates if they determine you've become a bigger risk, Williams says.
The easiest way to avoid interest rate shock is to pay at least the minimum on your balance on time every month. Other strategies:
Read the fine print Credit card issuers are required to disclose penalty rates. They're also required to tell you if they'll monitor your other accounts. If you're struck with penalty rates, ask your lender to close your account. Some lenders will let you pay off your balance at the old interest rate, as long as you agree not to add any new charges. Some states require lenders in their jurisdiction to offer that option, she says. You won't be able to use the card anymore, but you'll avoid sky-high interest rates.
Use "teaser" rates with caution Many lenders offer below-market rates to borrowers who agree to transfer their balances to their cards. These rates typically last six months to a year and range from 0% to 9%. They're a great deal if you can pay off your balance before the rate expires.
But if you're still carrying a balance when the period ends, stand back. Your interest rate may balloon, wiping out any savings from the teaser rates.
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