What You Need to Know About Credit Card Debt
Living with the burden of too much credit card debt has become a real problem in Canada. According to an article released in the Toronto Star, Canadians spent $267 billion on credit cards in 2011 alone. With over $2 billion in unpaid credit card debt, it’s no wonder so many Canadians are struggling just to pay their bills.
With so many people using credit to pay for their purchases it’s essential to understand how credit card debt works. It is also important to know the options available to help you get out of debt if you have spent too much using credit. If you’re facing too much debt and are worrying about how to make ends meet, don’t wait to find help. Call 1-888-287-8506 to speak with a trained credit counsellor or get started online with a Free Debt Analysis and a counsellor will be in touch with you to review your situation.
Understanding How Credit Cards Work
Credit cards and credit card contracts can be confusing. Learn how credit cards work, the differences between the various interest rates listed in a credit card offer, and get tips on how to decode your credit card statement so you know what you’re paying for when it arrives in your mailbox.
To manage your debt successfully you first have to understand how debt works and the differences between the various kinds of debt. You can be more strategic about paying your debts down and will be equipped to find the right debt solution when you need relief. Learn more about how debt works and find strategies that show why paying down unsecured debt can help improve your finances drastically.
When it comes to your credit cards, do you really understand the implications of using credit? Knowing how credit cards work and recognizing exactly what happens when you use credit can mean the difference between managing your finances successfully and ending up in debt. We’ll help you gain a better understanding of credit card APR (Annual Percentage Rate), weigh the pros and cons of buying on credit, and let you know your rights as a consumer.
Credit card statements can be confusing. You may not fully understand what you’re paying for when you review the statement. We can help you learn how to read your credit card statement so you can know what’s happening with your debts. You’ll also be better equipped to assess your statement to see what you’re paying in interest, fees, and those sometimes hidden finance charges.
Do You Need Relief from Credit Card Debt?
If you’re like many Canadians you may be facing more credit card debt than you think you can handle. Don’t let credit card debt hold you back and prevent you from doing the things you want to do. Learn how to identify a debt problem, find strategies to reduce your debt, and the options you have for debt relief.
If you’re just making ends meet or you feel like you’re just managing to stay afloat, you may not think you have a problem with credit card debt. In truth, problems with credit card debt often start long before you can’t make your monthly payments. To learn how to identify a debt problem, take our credit card debt quiz to see where you stand. Plus get answers to the most frequently asked questions our trained credit counsellors hear when it comes to credit card debt.
Don’t wait to find help if you’re struggling with credit card debt. Find out where to get debt help and strategies you can use to free up more money in your monthly budget to pay off your debt. With the right strategy and the right people helping you, you can ease the burden of your debts and even be completely debt-free—often in less time than you’d think.
If you know you have too much debt to pay off on your own, it’s time to find a solution to eliminate your debt and avoid bankruptcy. Get information on 5 debt solutions that can help pay your debts back in full and learn the differences between debt settlement options you can explore before you declare bankruptcy.
- 08/21/2014 - Infographic: Are You Feeding Your Creditors or Yourself?
- 06/27/2014 - Government changes prepaid card rules
- 06/11/2014 - Western Canadians not afraid of debt
- 05/15/2014 - No Cash, No Problem
- 10/29/2013 - Consolidated Credit Advises Canadians to Alter Spending Habits