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The average American home owes around $6,270 in creditcarddebt. You may also be relieved to hear that you’re not out of options if you have past due debt. Essentially, debt settlement means making a deal with the organization or individual you owe money to.
If you’ve ever missed a payment or paid it late, you know that your creditcard company is quick to charge a late fee – especially if this isn’t your first time. Consequence #5: Poor Credit. Creditcardlenders report late (or skipped) payments to the credit bureaus. Consequence #2: Penalty APR.
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