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Counties in Alabama with low credit card debt

A recent study revealed that, compared to many states, Alabama’s households tend to have much lower credit card debt, a Thursday, December 8 article of al.com reported.

The average credit card debt of households in all states is $15,675, but reports revealed that Alabama households have an average of $1,866 in credit card debt. Data from Smartasset.com determined these rankings by analyzing the percentages of household income and credit card debt. According to their rankings, the figures determined the top 10 counties in Alabama with the lowest levels of credit card debt were Hale County, Pickens County, Washington County, Bibb County, Lawrence County, Jackson County, Walker County, Lauderdale County, Cherokee County, and Madison County.

While these parts of Alabama have low levels of credit card debt, many people across the state are still struggling to settle their debts. If you are struggling to pay your finances, a Greenway Bankruptcy Law, LLC attorney may work on your behalf. Discuss your situation with a skilled bankruptcy attorney today by calling (205) 324-4000 to learn more about your options.

Take a summer vacation while avoiding debt

For many families, credit card debt is an expected consequence of a nice vacation: American Express reports that a family of four is likely to spend approximately $4,580 on a vacation.

Families who are on a tight budget may want to explore destinations nearby. Public places such as national parks and other recreation sites are worth considering for those who want to avoid the expense of traveling but still want to get away. People who have friends in other cities may consider staying at their place for a while or try swapping homes with relatives or friends. Similarly, because gasoline is still inexpensive, people may consider traveling by car instead of plane. Road tripping makes travelling considerably less expensive, especially since families can bring their favorite foods in a cooler and stay at affordable lodging facilities while on the road.

The legal team at Greenway Bankruptcy Law, LLC in Birmingham understands that many people are struggling with their finances due to overwhelming credit card debt. If you have amassed serious debt, we may be able to offer you the necessary advice to help you negotiate your debt. Find out how we may be able to work for you by calling (205) 324-4000.

Americans are unable to wean from excessive credit card use

A recent report by Bloomberg observed that many credit card users are struggling to pay off the interest rates on their previous credit card balances.

According to College Professor Scott Fulford, Americans at an early age start to heavily depend on credit card use. In the 25 to 50 age bracket, the study found out that an estimated 35 percent of credit card users are able to settle their monthly dues. The study also observed that between the ages of 20 and 30 many Americans already have credit card debt as a result of being given high credit limits. Younger Americans, according to Fulford, are not interested in saving as a result of having high credit limits that they can access in case of emergencies.

Being struck with credit card debt is often a frustrating situation, especially if you have very limited resources to pay off your debts. If you are struggling under the weight of unmanageable debts, a Birmingham lawyer at Greenway Bankruptcy Law, LLC, may be able to help you. Find out how we may be able to help you get a fresh financial start today by calling (205) 324-4000.

How to quickly recover from credit card debt

Nationwide credit card debt continues to soar, leaving many households steeped in what they often believe will be a never-ending debt cycle. Fortunately, the following is a list of tips for these individuals that may enable them to pay off their credit card balances more quickly.

  • Avoid tacking on to your credit card balance by continued use of the card in question until it is completely paid off.
  • Try to increase your cash flow by looking for a sideline job.
  • Keep yourself motivated in settling your credit card debts by concentrating on one balance at a time.
  • Negotiate with your credit card companies to have your interest rates reduced if you have a respectable credit card history.
  • Always pay more than the minimum balance each month if you can in order to reduce interest.

Though the tips mentioned above may help you in paying your credit card debts, another tip worth considering is to consult with a knowledgeable, skilled bankruptcy lawyer. Find out how the financial legal team at Greenway Bankruptcy Law, LLC, in Birmingham may be able to help you recover from your overwhelming debts today by calling (205) 324-4000.

Handling credit card debt during unemployment

Facing unemployment is frustrating, espeically if you are burdened with credit card debt. Individuals who are in a situation like this may want to consider the following ways to alleviate their situation:

  • If you are currently looking for potential employers, it is important that you are capable of stretching your money–though make it a point to settle at least the minimum of your monthly dues.
  • Consider notifying your credit card provider about your unemployment; this is crucial mostly if you are planning to negotiate a delay or decrease in your payments.
  • Avoid financing assistance that comes with high interest rates offered by credit card companies.
  • Avoid any unnecessary expenses during unemployment and try to improvise ways to further decrease your daily expenses.

Aside from these tips, the lawyers of Greenway Bankruptcy Law, LLC, in Birmingham also offer other ways to help unemployed or employed individuals who are stuck with overwhelming debt. If you want to know more about the options that could alleviate your financial situation, call us today at (205) 324-4000.

Many Americans remain plagued by serious credit card debt

According to a new survey, many American families are still affected by overwhelming credit card debt, although the number is decreasing, an April 10 article of KOMO News stated.

In the survey conducted by the National Foundation for Credit Counseling (NFCC), it was revealed that one in three family members is having trouble paying the monthly credit card balance. Those individuals who fail to pay their monthly dues eventually struggle with their debt because of the accumulating monthly interest. To manage credit card debt, NFCC Vice President of Communications Bruce McClary suggests that people should faithfully pay their monthly credit card balance in full.

If you are heavily burdened by overwhelming credit card debt, enlisting a lawyer could help you understand the legal options available to you that may help you recover from your debt. Call the Birmingham lawyers of Greenway Bankruptcy Law, LLC, today at (205) 324-4000 to find out how we may work for you.

Survey reveal U.S. credit card debt soared in 2014

On March 10, CBS reported that credit card debt last year skyrocketed and the trend is expected to continue into 2015 as the U.S. economy continues to improve.

According a recent survey from CardHub, a total of $57.1 billion in new credit card debt was recorded in the U.S. last year. Such increase reportedly has been observed since 2013 and it is likely to continue this year. Another study published last month revealed that many Americans are plagued with credit card debt yet their earnings have only increased by 2 percent in the last decade. The average credit card debt is around $7,200, close to the $8,300 mark that some experts consider largely unmanageable.

Whatever reason you have obtained unmanageable credit card debt, know that there are legal options that can benefit you. However, if you are in such a situation in Birmingham, a lawyer from the Greenway Bankruptcy Law, LLC may be able to provide workable solutions for you to bounce back from debt. Find out how we may be able to help you today by calling (205) 324-4000.

Ways to manage credit card debts after the holidays

Credit card holders who have splurged during the holiday season may consider the following tips to possibly lessen the headaches come repayment time, a Market Watch article stated on January 5 .

• Credit card holders may want to pay their cards with the highest interest rates first followed by other cards with low interest rates. Individuals who do this not only improve their credit score but also get lower interest rates on their future transactions.
• On the other hand, individuals who need a little encouragement may want to prioritize paying their cards with lower interest rates.
• Reputable card holders with a solid history who are struggling financially may ask their issuer to lower their interest rates.
• Another option for reputable card holders is to move their balance from one card to another. Moving balance from a card with high interest rate to card with lower rate can be beneficial.
• For card holders who like to budget, another option is to pay their card’s monthly due slightly above the minimum to reduce the payment duration and interest rates.

Though the following tips are helpful in managing credit card debt, working with a lawyer is also beneficial mostly if you believe your debts are already unmanageable. Find out how the Birmingham lawyers of Greenway Bankruptcy Law, LLC may possibly help you with your debt today by calling (205) 324-4000.

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505 20th St N #1220
Birmingham, AL, 35203
Phone: (205) 324-4000
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Greenway Bankruptcy Law, LLC All rights reserved. We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code. The following language is required pursuant to Rule 7.2, Alabama Rules of Professional Conduct. No representation is made that the quality of legal services to be performed is greater than the quality of legal services performed by other lawyers. This web site is designed for general information only. The information presented at this site should not be construed to be formal legal advice nor the formation of a lawyer/client relationship.

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