Do you have five or more credit cards?
More than 3m Brits do, with many spending way beyond their means and facing unpayable monthly bills. Typically the worst serial credit card offenders are those between 35 – 44 years old. Many are willing to freely admit that they were at breaking point with their finances, as they try to juggle multiple debt on multiple cards.
Credit Cards should only be used as an emergency backup and you should not ‘live’ on your cards. This will only lead to more debt, and high-interest repayments. Harrington Brooks believes that it is important that you get this type of spending under control as soon as possible. If you find that you need to pay your credit card bills with another credit card, or you regularly draw out cash as a means of living – you need expert help.
Credit Card Help is Available
There are ways to relieve the burden of debt and pressure from creditors who are demanding you to pay what you simply can’t afford. You might want to think about a Debt Management Plan which is suitable for those with multiple debts. One Advice can negotiate with creditors and find you a lower monthly payment, leaving you with more money in your pocket.
If you are facing debt over £15,000 then you might want to consider an IVA, this is Government legislation designed to reduce your debt.