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How Massachusetts residents can reduce credit card debt

There are many traps when purchasing goods or services on credit. Some financial providers have lengthy terms and conditions that can change at their discretion. Being overwhelmed by debt can be very difficult in Massachusetts. A life can be interrupted by creditor harassment and the psychological toll of a debt load. Credit card bills can quickly overwhelm, but fortunately there are options to lower debt.

A recent poll by the National Foundation for Credit Counseling found that people were more embarrassed about credit card debt than they are about age or weight. Financial advocate Elisabeth Leamy recommends different strategies for combating credit card debt. Those include negotiating for a lower rate on credit card bills, using savings to pay off debt and paying off higher-rate cards first.

Bills can pile up and sometimes debt can be unmanageable. One option for those who have significant amounts of consumer debt, perhaps after a period of unemployment, is personal bankruptcy. This can help discharge debt or at least put someone on a track to paying off debt in a manageable way. Higher interest rates can make it impossible to pay off debt. Bankruptcy can help provide a solution for consumer debt.

People may be embarrassed about their debts, but there are plenty of options in Massachusetts. Bankruptcy can get rid of harassing creditors and bills and hopefully put the filer back on a healthy financial plan. There are a variety of options to consider, so the first step to take is to become more informed on the process.

Source:, "6 Steps to Fix Your Credit Score and Credit Card Debt So They Won't Be An Embarrassment," Elisabeth Leamy, April 28, 2014

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