Between high spending limits and almost endless opportunities to apply for instant credit, it’s all too easy to get in over your head with credit card debt. But once it happens, how do you get out of credit card debt?
Signs You May Need Help
Calls and letters from debt collectors are obvious signs that credit card debt has become unmanageable. But sometimes it can be harder to tell when credit card debt is a problem. Just because you are paying your bills doesn’t mean you’re effectively managing your debt. Signs you may need help to get out of credit card debt are:
- Maxing out credit card balances
- Asking for credit limit increases
- Paying only the minimum payments on your cards each month
- Making payments late or skipping them altogether
- Discovering you have no money left once all the bills are paid
If you find that you are experiencing even one of these situations, chances are you need to seek help to pay off your credit card debt.
Getting the Help You Need
Nonprofit credit counseling from Take Charge America is a great first step to help you get out of credit card debt. You will be able to work one-on-one with a certified credit counselor to:
- Review your income, expenses and debts
- Create a workable budget
- Develop an action plan to get out of debt
- Begin saving for the future
The most important thing is recognizing and admitting when your credit card debt has become too difficult to manage on your own, and taking steps to get the help you need.
Don’t be afraid to seek help. Struggling on your own or ignoring the issues will only make them worse. The sooner you ask for help, the sooner you can start living a more peaceful life and begin creating a more stable financial future.