The Challenge

It's no secret that many frum families (and Americans at large) are grappling with significant credit card debt. With sky-high interest rates, balances grow very quickly which makes it a daunting task to pay down the debt. Even those using 0% APR cards face a ticking time bomb & the credit card companies often come out on top in the end.

How’s Everyone Else Doing It?!

Pssst…they’re not!!!
Well, some are, but MANY are drowning in debt even if it looks rosy on the outside. Think about it. Do you go around telling people about your debt? No! And they don’t either…

Settling the Debt

There are ways to settle with credit card companies, either by negotiating directly or by using a company that specializes in this process. Don’t think this is the easy way out! The process can be very stressful and have negative impacts. Either way, negotiating the debt shouldn’t be your first step.

Rinse & Repeat

The problem with settling the debt first is you’re not addressing the root cause. After all the stress and work negotiating and making payments, the credit card companies will issue new cards, and your debt cycle will start all over again leaving you right back where you started!

Right the Ship

The best approach is first tackle the underlying causes of your credit card debt and implement a solution to balance your budget. You can work with a financial coach or try it on your own. Once you stop incurring new debt and are left only with the previous balance , then it can be time to settle with the banks.

Time is of the Essence

The longer you allow cc debt to sit, the tougher it'll be to climb out of it! If you've had to make a minimum or partial payment on any of your credit cards, the time to deal with it is NOW .
There's no shame in addressing credit card debt. It's a common issue, even if people don't publicly announce it.

If you'd like to get in touch with a financial coach, just message 848-231-2946 or email [email protected] to set up a free 15-minute call. It's 100% confidential. Don't wait!