Are your credit cards at the credit limit or over? Do you have other finance such as personal loans, car finance and a mortgage?
It can all get overwhelming at times, with so many ways to get into debt, but not clear way for you to get out of debt.
While most of this debt is from mortgages and student loan, part of it was from credit card debt. Credit cards and other unsecured credit can costs you a large amount of money each month in interest payment. This is money that can be used or saved.
Unfortunately, many people use their credit cards on a consistent basis and don’t pay the balance up each month. Many adults do not know how to manage their credit and can easily fall victim to easy credit and high balance.
People often get caught in the trap of paying minimum month repayments, especially when it comes to credit card debt. Did you know that if you owe $10,000 on your credit card and if you only pay the minimum monthly repayment, it could take you over 34 years to pay off your credit card debt?
At Capital One Finance Solutions we provide debt solutions to both individuals and businesses.
If you want to find out about the options available to you, please contact us on 1300 227 663.