no credit card debt

The typical household in Alaska carries the most credit card debt – an average of $13,048 – this is 13% more than Wyoming, which is the next state carrying the highest average credit card debt. The average household in Ohio holds just $5,446 in credit card debt, which is the least of any state.

Credit card debt is typically unsecured debt, meaning a credit card company can’t come after your assets if you fail to pay what you owe. Since credit card companies don’t have this recourse, many are willing to negotiate a settlement with customers to recoup as much of the debt as possible.

Credit card debt rarely "just happens." No matter which method you use to pay down your debt, you should start and end with a thorough examination of how you wound up with credit card debt to begin with – and what you can do to prevent it from happening again in the future.

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If you have credit card debt, you’re not alone. According to the Federal Reserve, credit card balances stand at $848 billion. 1 That means the U.S. has an insane amount of credit card debt. Despite what society tells us, credit cards don’t have to be a way of life.

21 hours ago · Chase says it is letting some Canadian consumers off the hook for credit card debt as it exits the market. Chase Bank says it is forgiving all outstanding debt owed by users of its two Canadian.

10 Tips for Paying Off Credit card debt. ready to pay off your credit card debt?Here are some practical ways you can quickly tackle your maxed out cards and take your first real steps toward getting out of debt.

Personal Loans: Credit card debt is a form of personal loan, and most other personal loans are handled similarly. No collateral is required to secure the loan , so lenders have to hope that the estate will have sufficient assets to repay the debt.

When you move credit card debt to a personal loan, it is no longer revolving debt and is not considered when calculating your credit utilization ratio. A loan might lower payments, too. “If you can.