Archive for credit card debt


Credit CARD Act 2010 Benefits You

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Law Enforces Credit Card Debt Protection

Hiked interest rates, overspending, and not paying bills on time are causing consumers to go into credit card debt.  It is a national issue affecting millions of families across the nation.  However, there is finally a bit of relief in sight.  The Credit CARD Act passes this month, easing the pain of some of the most common factors striking up credit card debt amongst citizens.

Credit Card Rate Tricks Put to a Halt

The Credit CARD Act protects consumers in ways unknown or unforeseen by credit card users.  For instance, credit card companies used to send the monthly bill a few days before it was due to those whom paid the bill in full every month.  The reason is f the consumer receives the mail a tad late or does not have a chance to return it before the due date, then the credit card company hikes up the interest rate, tacks on late fees, and makes lots of money.  It is a terrible practice, which credit card companies implemented each month.

With the Credit Card Act, credit companies no longer allowed to conduct business in such a manner.   For the new law states, credit card companies must send the bill at least twenty-one to fourteen days prior to the due date of the bill.  This is a huge change in business.  It helps many people from receiving late penalty fees.
If you are in need of financial relief, talk to a small business loans expert today.   A professional will be able to guide you in the right direction ensuring your business is not hit by financial trauma due to debt accrued through business credit cards.

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Tips on How to Decrease Overspending

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There is something to be said for planning ahead and the positive connection it has on your wallet.  It allows you to budget safely without engaging in impulsive buying excursions.  This helps your overall spending and cuts costs when needed.  Here are a few tips to keep your finances inline.

Find an Automatic Savings Plan

Manually putting away savings every pay period is not ideal for some people.  For when it comes time to receiving your paycheck, you may be thinking of the numerous bills waiting to be paid, and the dress you must have for the out-of-town weekend scheduled with your significant other.  It is not a reliable means of putting money away in a savings account.  Therefore, sign-up for an automatic savings plan that does the work for you.  Ask your bank if there is such a system.  It will help you place money into your savings without the internal debate.

Pay Cash

You cannot turn on the news without hearing about another family with credit card debt and in a serious negative situation.  Thus, when you can, pay cash.  Follow the golden rule: If you do not have the cash available, then you should not buy it.  Do not live beyond your means.  In addition, if you take a vacation, use cash for the duration of your time off.  This prevents you from overspending during your vacation and ensures you do not return home with an immense amount of debt.

All of these financial tips assist in preventing you from spending money that you do not have.  If your small business is still in financial trouble, then talk to a professional.  Find a suitable business cash advance today.

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