Credit card debt can impact many areas of personal finances, including the ability to qualify for new loans. Whether it is a mortgage, car loan, or personal loan, high credit card debt can affect both your chances of approval and the terms you are offered....
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Credit Card Debt
Under what circumstances can creditors dispute debt discharge?
Filing for bankruptcy often provides individuals with the opportunity to discharge credit card debt and gain a fresh start. However, creditors may challenge the discharge of credit card debt under certain circumstances. Understanding when and why this occurs can help...
How do I prevent credit card overspending?
The strategic use of your credit card may help you build good credit. However, some credit card providers offer generous rewards and perks, which may tempt you into overspending and result in debt. Being in debt may pose critical financial problems with long-term...
Why disability and divorce can cause high credit card debt
Credit card debt is a burden for many individuals and families. Various life circumstances can make it challenging for people to manage finances. They may rely on credit cards to cover necessary expenses. Understanding how specific factors contribute to credit card...
How Chapter 7 bankruptcy can help families with credit card debt
Families in Oregon may have significant credit card debt due to medical expenses from childbirth, limited income and child essentials. Chapter 7 bankruptcy could be a potential solution for some of these families facing overwhelming credit card debt. For example, it...
4 signs your credit card usage may signal bankruptcy
In today's fast-paced world, managing personal finances can be a challenging task. For some individuals, excessive credit card usage can lead to financial turmoil. In some cases, bankruptcy may be the best solution. 1. High credit card balances One of the most evident...
American credit card debt breaks $1 trillion
Credit card debt in the United States has recently hit an all-time high. Reports indicate that it cumulatively broke $1 trillion earlier this fall. It’s a dramatic spike showing that Americans are more reliant on credit cards than they ever have been before. Of...
Are you responsible for your spouse’s spending?
You feel that your spouse’s spending has gotten out of control. Perhaps you’re even considering a divorce. You know that it’s impossible for you to pay off the debt that your spouse has accumulated. You’re worried about what it will mean for your financial future. ...
2 signs your credit card debt is getting out of control
Used prudently, a credit card can be an effective financial tool. A credit card can come in handy when an unexpected expense comes up. You can also use it to build and maintain a strong credit history. And, you basically need a credit card for certain transactions...
Credit cards make people overspend
Do you ever get to the end of the month and find yourself shocked by the credit card statement? You knew you were using your credit card all month, of course, but you just didn’t realize exactly how much you spent. You can’t believe that you made so many purchases. If...
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The Law Office of Kim Covington, is a woman owned debt relief agency, and I have helped families, individuals and small businesses, file for bankruptcy relief under the U.S. Bankruptcy Code, for over 24 years.