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Managing credit card debt

| Jun 25, 2019 | chapter 7 |

Credit card debt has taken over the lives of many Americans, and those in Indiana are no exception. Particularly if you have experienced job loss or a downturn in your local economy, it is not unusual to end up relying on your credit cards to get through hard times. No matter what the reason is for credit card debt, you are not alone and there are many ways out. We at Miller Flannery Law are committed to helping Americans manage and ultimately resolve debt-based issues of all varieties.

There are some simple tricks that can help you manage credit card debt on your own. For instance, according to Bankrate.com, one of the best ways to help manage credit card debt is to change your credit card payment date. You cannot do this with all credit cards, but if possible it is advisable to change your payment date to payday, so you can help bring down that balance when you have cash on hand. Plus, changing the payment date on your credit cards to all be on the same day will help ensure you do not forget a due date.

For high-interest credit card debt, try moving the debt onto a balance-transfer credit card if possible. This will often give you several months to pay down the debt interest-free. Look for a balance-transfer card with a long 0% APR period. If the balance-transfer fee is low, that is even better.

There is no shame in asking for assistance with credit card debt. For many Americans, Chapter 7 bankruptcy may be the answer, as it can eliminate personal debt. Please visit our Chapter 7 bankruptcy page for more information.