Wednesday, August 01, 2007

Personal Finance: Get Out Of Credit Card Debt

David Bach had a good article today with a game plan to get out of credit card debt. If you're looking to improve your credit score, and your personal finances in general, take a look.

He starts:

I've spent a lot of time teaching Americans how to get out debt. From television appearances to books to speeches, I've tried to proactively address how to fight the credit card companies at their own game.

CardTrak.com reports that the median amount of credit card debt carried by a typical American is about $6,600. But 13 percent of participants in a recent online poll reported balances higher than a staggering $25,000.

Many of these families now have over nine credit cards per household. That's not hard to believe considering that the average college student now graduates with three credit cards.



Here is the link for the rest of the article

2 Comments:

At 10:38 PM, Blogger JohnDiddler said...

i owe $3,183 at 0%.

 
At 2:49 PM, Blogger builderofcredit said...

The question is how can the students really overcome a staggering debt like that?

I think it would help if the students have an idea on what are the common mistakes that they should avoid in handling their credits. This is best highlighted on the article on Student Credit Card Mistakes.

 

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