Debt has become a serious problem for many consumers in Louisiana and across the country. While there may be several possible reasons for these deficits, one of the most common causes is due to the overuse of credit cards. Fortunately, consumers may have multiple options at their disposal for achieving debt relief.
A solid first step for those in debt is to make a list of all credit card balances, taking interest rates and minimum payments into consideration. If the debt is less than 15 percent of one's income, paying more than the minimum each month can help to decrease the total more quickly. When expenses exceed income, however, other options are likely more viable.