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Many people dread receiving their credit card bills each month for fear of the interest and various fees that they will have to pay. Accumulating debts on credit cards has become a common problem in the state of Pennsylvania, and it is not a good habit to have, since the interest can be a source of additional debt and higher payments.

If you are struggling with debts on multiple credit cards and don’t know how to deal with the problem, it is a good idea to learn more about personal finance so that you can put some solid strategies in place.

Get in touch with your creditors

If dealing with the interest rates is an issue for you, getting in touch with your creditors might prove to be a helpful first step. Creditors would rather have you successfully pay your debts back at a lower rate than never getting paid at all. Therefore, they may be willing to negotiate.

Tackle one card at a time

If you carry a balance on multiple cards, it may be best to tackle the one with the lowest balance first. In other cases, paying off the card with the highest interest rate or one with a balance over the established credit limit. By taking one at a time, you will be able to successfully rid yourself of interest obligations.

Consider other actions

If you are finding it impossible to keep on top of your credit card debts, you may want to consider filing for Chapter 7 bankruptcy. This will help you stop creditor collection efforts and get a fresh financial start.

Make sure to conduct adequate research on bankruptcy before deciding whether it is the right option for you.  To learn more about the different types of bankruptcies and what may be the right option for you to consider, visit our website at www.quinnfirm.com.  You can also call the Quinn Law Firm at 814-833-2222 and ask to speak with a bankruptcy attorney.  We offer free initial consultations.