5 Ways Credit Card Debt Overload Happens

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Unfortunately it happens before you know it. You’ve maxed out your cards and now you have high monthly (minimum) payments to make due to exorbitant interest rates. How does this happen?

1.  Charges creep. You didn’t have as much cash as you needed, so you’ll use your credit card just this one time. And one more time, then another, and so on, until you’ve maxed all your options out.
2.  You spend more than you make. Maybe you’ve always exceeded your means, and when it was easy to get credit you covered extra expenses by running balances on credit cards. Or maybe your company didn’t give out the same bonus that you loved to blow on the holidays or a vacation. But you still spent extra on the holidays and a vacation.
3.  You lost income but didn’t cut back on spending. Your job got cut back; your pay got reduced. But spending cuts usually lag cuts in income significantly.
4.  You had an accident or illness and no health insurance. Out of necessity you put medical expenses on your credit cards. Now you have extra payments on a fixed income.
5.  You just graduated from college and can’t find a job. Four years ago your plan was to get a degree and get a great job. But companies aren’t hiring the way they used to. You’re putting expenses on credit cards, plus you have hefty student loans to pay off.

If you find yourself in one of these situations, or, if you are overloaded by credit card debt, call ACI Solutions now. We’ll interview you to understand your situation and what kind of payments you can manage. Knowing the industry and each credit card company, we negotiate settlement plans for you. Only when we have a settlement plan in place do we calculate our fees, which are paid when we complete the settlement. Call us today at 1-888-420-4791 for a free initial consultation.