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Simon, Fitzgerald, Cooke, Reed and Welch
Simon Fitzgerald, LLC
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credit card debt Archives

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.  

The connection between unemployment and high credit card debt

In Louisiana and throughout the nation, many households contain one or more adults who are out of a job. Some were unexpectedly let go when their employers determined a need to cut costs; others lost their positions when the companies they worked for restructured and consolidated departments. While employment analysts say the future looks bright for America, the current rate of unemployment continues to take its toll, which, unfortunately, often leads to high credit card debt for many out-of-work consumers.  

When credit card debt threatens financial stability

Many financial analysts have written books on budgeting and how to build a savings account. There's also no shortage of writings concerning credit card debt and how to avoid major financial complications. No matter how often such topics hit book shelves in Louisiana or the internet, there's little to no chance that financial crisis will ever be completely eradicated.  

Getting back on track when credit card debt is unmanageable

You'd likely be hard-pressed to find a Louisiana resident who hasn't encountered financial difficulties at some point in life. Economies fluctuate as do personal finances, as well as employment situations and other life dynamics that can quickly impact a financial status in positive or negative ways. Many people who have experienced money woes say it was credit card debt that tipped the scales in the wrong direction.

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