Doctor Debt - Credit Card Debt

Credit Card Debt

Control Credit Card Debt- Don't Ignore the Warning Signs!!

Below is a list of warning signs for credit card debt. Doctor Debt wants to know if you have any of these symptoms so he can prescribe the right course of treatment to get you total credit card debt relief:

Late payments
Borrowing on one debt to pay for another
Frequent letters and calls from collection agencies
Denied or canceled credit

If you answered yes to the above warning signs, your credit record may be in trouble. Doctor Debt recommends these debt management tips:

Know your credit limit
Try to keep a mental balance of your charges. Stop yourself when you are approaching your limit.
Don't overspend! Save some credit for emergencies
Understand that a bad credit rating can do serious damage in the future. Take serious care of your credit now and eliminate credit card debt and eliminate it good!

Could Your Credit Card Debt Be A Result of Fraud?

Credit card fraud costs cardholders and creditors millions every year. Unfortunately, a large percentage of credit card debt is due to fraudulent activity such as identity theft. To protect yourself from being a victim, Doctor Debt has provided some Do's and Dont's to follow when using your credit cards:

Do:

Sign your cards as soon as they come and carry them separate from your wallet
Keep a record of your account numbers, their expiration dates, and the phone number and address of each company in a secure place.
Destroy carbons and receipts that have your credit card number on them (or at least keep them in a secure place)
Report any questionable charges

Don't:

Lend your cards to anyone
Sign a blank receipt or leave the credit card receipt laying around
Give out your account number over the phone unless you're making the call to a company you know is reputable.
Write your account number on an envelope or piece of paper

Credit Card Debt is Contagious!! Protect Yourself!

Did you know that the average individual carries over $9,000 in credit card debt? Talk about a need for credit card debt reduction!In 2002 alone 1.3 million Americans filled for bankruptcy because of credit card debt. Many people think paying the minimum balance on a credit card debt puts them in a good monthly financial position. However, it creates a worse scenario. Each month you are getting deeper and deeper into debt. To control your debt , Doctor Debt recommends separating your wants from your needs. Once you understand your priorities, you can choose your treatment options. Doctor Debt offers four treatments to treat your credit card debt.

Pay with cash, NOT plastic! Keep track of your spending, especially small purchases. These items add up. As you start to track, you might find that you make a number of unnecessary purchases. Not wanting to admit you spend alot of money just puts you deeper into credit card debt.

Transfer balances. If you have more than one card, it might be possible to transfer balances to the card with the lowest APR (Annual Percentage Rate). Remember... you have to discard the old cards and only keep the card with the transfered balance.
Enroll in a credit card debt consolidation program. Consolidation programs will enable you to pay off your credit card debts in installments with lower interest rates. This also allows you to have to only make one monthly payment.
Bankruptcy. This is an alternative that should only be used as the last resort because of the long term effects.

Remember, credit card debt is avoidable. Doctor Debt wants to see his patients spend healthy. So please, pay attention to how you spend your money. If necessary, enroll in a credit card debt elimination program. This involves credit card debt negotiation to get your balances lowered. Credit cards can cause huge financial setbacks if misused. Try to only carry cards with low APR rates and monthly balance payment plans. Try to keep a card with a low spending limit to eliminate the urge to overspend. There are many reasons why our credit card debts become unmanageable. If you have become the victim of a medical emergency or work related layoff, you may need a little credit card debt negotiations from the good old Debt Doctor.