Personal CCD

One of the most common reasons that people can get into credit card debt here at Credit Card Debt Negotiations is due to personal debt. While there are some who are better at handling their personal finances, others do not find it as easy. This is a generally common thing that you may not realise just yet! There are many people and many households around the world and around the Australian continent who struggle to manage their finances correctly, especially when factoring in a credit card. This is mainly due to credit cards essentially letting you spend money that isn’t there.

One of the biggest pitfalls that many credit card holders fall into is not being aware of how much money they are spending day by day. This is a common occurrence surprisingly. When it comes to cards, you don’t have a physical amount within your hands to associate your spending to. This makes people spend wildly above the credit they have, and it is the most common to see among young adults who have recently moved out of their childhood homes, or married couples with children.

One of the saddest stories that we have ever witnessed, but the most thankful that we have had for intervening was a single mother who had 3 children and had run into financial debt due to not working. Unfortunately for the mother, she hadn’t been working for the past 4 years beforehand, but she was a previous high earner. So, when her financial status had changed, she hadn’t expected the level of drop in the past. This ended up being a blessing in disguise for her, as once she had fallen into financial trouble, we knew exactly how to negotiate for better repayments.

Despite the situation you are in, there is always a new way to get forward.

Leave a Reply

Your email address will not be published. Required fields are marked *