Fifteen percent is might be manageable. In 1997, close to 1 million of those tired souls filed for chapter 7 bankruptcy according the Administrative Office of the United States Courts. Nearly all filers walked away with no credit and a blemish on their credit so severe, they'll need to rely on cash for all their needs for the foreseeable future and beyond. Yet, with each week, many of us see new offers for bigger and better credit cards in our mailboxes. In fact, last year, 2.4 billion pieces of mail were sent, urging us to apply for yet another card.
Credit is powerful tool.
But, effective management of it is vital in these days of easy credit. Your financial health depends on it. Look at the questions below. What to Do Most personal finance experts agree that a series of steps is essential to take charge of your financial well being. Stop Using Credit Overuse of credit cards got you into this mess.