« 7 steps to be debt-free in 2007 | Home | Now you spent all the money, here’s how to get the credit card paid off »
How to avoid getting into credit card debt
By Adam | December 28, 2006
How to avoid getting into credit card debt
Many people are recovering from the holiday shopping that can put a financial burden on their wallets.
Call 4 Action’s Al Vaughters has some tips to help you avoid getting into too much debt.
Even the most disciplined revelers can let their guards down for the holidays, adding a couple of inches to their waistline, and allowing their household budgets to get bloated, too.
How do you avoid a credit card hangover?
You can start by setting a budget, sticking to it, and getting serious about paying your bills.
Stephanie Connors of Consumer Credit Counseling Service said, “To start making more than the minimum payment, on each of those credit cards, a month, because, really, you’re just paying the interest, every month, if you’re just making the minimum payment.”
Connors also points out that some consumers may be paying more for credit than they should, because of mistakes on their credit reports, which lowers their credit score.
Every consumer has a right to one free credit report a year, and the three major credit bureaus have set up a web site, annualcreditreport.com, which allows consumers to get their free reports, from Equifax, Transunion, and Experian, at no charge.
Then, if you do find a mistake, Connors said, “Write to that credit reporting bureau and say that ‘this is a mistake’, or ‘this isn’t me’, or ‘I don’t even have this credit card’, because, what do [you] know?
If [you] don’t access [your] credit report, then [your] credit score could be super-low, because there’s an error on there.”
Stephanie says that, most importantly, if you can’t resist the temptation of spending more than you should, cut up that credit card, the newest one first.
But, if you can’t stick to your debt diet, turn to Consumer Credit Counseling Service, the only state-licensed budget planning agency with offices in Western New York.
Connors said, “So you can sit down and say, ‘well, this is how much I’m spending here, on food, on my bills per month’.
If one of your New Year’s resolutions is getting your credit cards under control, you might want to set up an appointment with Consumer Credit Counseling Service of Buffalo.
| How to Avoid Deep Credit Card Debt
WIVB, NY - Dec 26, 2006 If [you] don’t access [your] credit report, then [your] credit score could be super-low, because there’s an error on there.” … |
technorati tags:consumer+credit+counseling, get+out+of+credit+card+debt
Topics: Credit Repair, Pay Down Debt, Pay Off Bills, Reduce Spending, Repair your credit |