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Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
Louisiana’s Oldest Bankruptcy Law Firm
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credit card debt Archives

Who is most at risk for high credit card debt?

Louisiana residents who are age 75 and beyond will be glad to learn that they are among those least at risk for carrying an outstanding balance on their credit cards. However, those in other age groups are not so lucky; as a matter of fact, some are at great risk for serious credit card debt. Not being able to keep up with monthly payments is a common problem nowadays.

Credit card debt: Beware potential downside of debt consolidation

It is not uncommon to encounter serious financial challenges at some point in life. In fact, most Louisiana residents would likely answer affirmatively if asked whether or not they have ever had to overcome a financial challenge. Some may currently be dealing with such problems, including credit card debt, which is often an underlying cause of financial problems.

Credit card debt a major problem for many Americans

Most people use a credit card to make daily purchases, and some Louisiana consumers even consider their credit cards to be their emergency funding option in case of a large and unexpected expense. Reliance on purchasing things on credit has led to a record amount of credit card debt. Americans now carry a total of around $870 billion in credit card debt, and many cannot keep up with their payments.

When credit card debt threatens financial stability

Many Louisiana residents are doing their best to stay afloat financially. Any number of circumstances can cause difficulty just to make ends meet. It can be tempting to swipe a credit card when cash flow is short; however, this often sparks credit card debt that winds up making one's overall financial situation worse.

Did your holidays end in credit card debt?

Many Louisiana residents are currently winding down their holiday seasons, perhaps some with a few outstanding party dates that were postponed in the new year. While most people enjoy celebrating with friends, family members and co-workers, it is also not uncommon for people to feel relieved when the festive season comes to a close. All the shopping, gift buying and wrapping, and other "leg work" that goes into a typical holiday season can leave consumers feeling exhausted, overworked and stressed about the credit card debt they may be left with when all is said and done.

Avoid credit card debt during the holidays

The holiday season is just around the bend and many Louisiana residents are already stressing over the expenses they know they will face when entertaining relatives and friends, purchasing gifts and traveling. Nothing can put a damper on holiday cheer quite like credit card debt. It is difficult to celebrate knowing there will not be a way to pay off the credit card when the bill comes due.

Are you facing credit card debt for similar reasons?

You may be one of many Louisiana residents who are currently struggling with finances. Perhaps you recently suffered a decrease in income or someone in your household lost a job. With the economy the way it is, it doesn't take much nowadays to go from minor money problems to serious financial debt. For many people, what really tips the scales the wrong way is credit card debt.

Credit card debt: Will filing bankruptcy lead to unemployment?

If you are one of many Louisiana residents who own a credit card, you may be also relate to those who have at some point carried a higher-than-preferred monthly balance. In fact, many people own more than one credit card, and any number of life issues may lead to serious credit card debt. Filing for bankruptcy is often a debt relief solution; however, some people hesitate to implement it because they fear they will be fired from their jobs or will not be able to obtain future employment, rent a home or will otherwise be outcast because of their financial situations.  

When credit card debt gets out of hand

There are many Louisiana residents currently facing financial challenges due to mounting medical bills. Others have lost their jobs and are struggling to make ends meet. In either situation, it is not uncommon for people to rely on using credit to pay expenses. This often makes matters worse in the long run when credit card debt skyrockets.  

Credit card debt: Issues that often lead to financial crisis

Nowadays, one needn't look beyond one's own circle of family and friends to find at least one person who has experienced significant financial challenges in life. In fact, most Louisiana residents can say they have gone through financial difficulties at some point. Even seemingly minor money problems can escalate if left unresolved for too long. Credit card debt is often an underlying cause of serious financial crisis.  

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