Is My Credit Card Debt A Problem?

For most Americans, credit card debt is a dangerous and growing problem. The average American family has more than $8000.00 in credit card debt and spends more than they earn on a annual basis. Credit cards can be useful tools when they used properly, but more and more Americans are getting in over their heads and threatening their financial futures. It is important to realize that just because you can pay your minimum payments each month doesn't mean you don't have a credit problem. Low minimum payments benefit the credit card company, not the consumer. The following are some of the warning signs that you have credit or debt problems:

* You are unable to put any money in savings

* You make only the minimum payments on your credit cards

* You use increasing amounts of your total income to pay off your credit card debts

* You use credit cards for things you should buy with cash, such as groceries

*You have more than two or three major credit cards and have balances on all of them

* You're at or near your credit limit on most if not all of your credit cards

* You're unsure of the total amount you owe on your credit cards

* You've taken out cash advances on credit card to pay other bills

* You've been denied credit due to your debt to income ratio

* You get calls from collectors about your credit cards

Alan Barnes
IAPDA Certified Debt Arbitrator
President and CEO of Debt Regret
http://www.debtregret.com

In The News:

To Washington Legislators: Unconditional Debt Relief is Not
Modern Ghana, Ghana - 11 hours ago
Unconditional debt relief, as called for in the Jubilee Act perpetuates poverty rather than alleviating it. In fact, it rewards past reckless behavior. ...

Banks hand over loan waiver certificates to farmers
NDTV.com, India - Jun 30, 2008
He said it would include 19 lakh farmers under the debt waiver scheme and about six farmers under the debt relief scheme. Farmers were handed over ...

NDTV.com
Banks in JK identify 34000 beneficiaries for debt relief
GreaterKashmir.com (press release), India - Jul 3, 2008
Srinagar, July 3: The third meeting of the Steering Committee of SLBC on monitoring progress in implementation of the Agriculture Debt Waiver/ Debt Relief ...
Himachal government urges to Centre to look into debt relief ... myHimachal
Union Bank completes farm-loan waiver, relief programme Hindu Business Line
Central Bank gears up to implement loan waiver scheme Navhind Times
all 81 news articles

SyndBank to waive Rs 1063 cr farm loan
Business Standard, India - Jul 2, 2008
Syndicate Bank is waiving agriculture debt amounting to Rs 1063 crore as part of the implementation of agricultural debt waiver and debt relief scheme 2008. ...

Debt relief Waiving, not drowning
Economist, UK - Jul 3, 2008
In Sikandrabad one farmer could not quite believe that the pink slip he had been given released him from 25000 rupees of debt. But others did not get the ...

BBC News
UAE cancels Iraq debt, names new envoy
The Associated Press - 4 hours ago
The Abu Dhabi government announced the debt relief and the naming of a new UAE ambassador to Baghdad shortly after Iraqi Prime Minister Nouri al-Maliki ...
$7bn debt relief Gulf Daily News
UAE to cancel all of Iraq's $7B debt CNN International
UAE writes off $7bn Iraq debt Arab News
guardian.co.uk - The Associated Pressall 317 news articles

Dhumal writes to FinMin for debt relief anomalies
Business Standard, India - Jul 3, 2008
... has sought removal of numerous anomalies in the Union government's debt relief scheme so that majority of farmers of the hill state could be benefitted. ...

CARICOM advised on strategy for debt relief requests
Caribbean360.com, Barbados - Jul 4, 2008
They do not have the instruments available to them to give debt-relief to middle-income countries," he said at the 29th Heads of Government Summit in ...

Syndicate bank extends debt waiver relief to 3.93-lakh farmers
Hindu, India - Jul 2, 2008
The bank said it is confident of completing the total process of handing over debt waiver and debt relief certificates to the eligible farmers latest by ...
Kerala banks display debt waiver lists Business Standard
all 5 news articles

99 Thousand Himachal Farmers To Get Rs 260 Cr Debt Relief Under ...
myHimachal, India - Jul 3, 2008
He added that 3789 other farmers had been provided a debt relief of Rs 16.83 Crores. Murgai said that all banks in the state had completed the ...
debt relief - Google News


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