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Helping good people through bad times

Prioritizing credit card debt when money is tight

If Tennessee residents can believe it, the holiday season has now arrived. It seems as though as soon as the last trick-or-treater got home with their bag of candy televisions across the nation were bombarded with advertisements for gift-giving, holiday-themed meals and other winter festivities. As the holidays approach, more and more people may slip into a problem that plagues many throughout the year: credit card debt.

Credit card debt can be a burden on someone who simply cannot get ahead of their payments. While it can be tempting to throw all of the money a person has at it, paying credit cards off before other debts may not always be a good choice. Readers are reminded that this post is not offered as financial or legal advice but only as an informational tool to help individuals understand how debt can affect their lives.

For those facing many forms of debt, paying for costs that support their needs may need to come first. For example, a family may consider ensuring their mortgage is paid off each month over missing mortgage payments in order to pay off a credit card since the failure to pay down a mortgage can lead to foreclosure.

After needs are paid a credit card debtor may next choose to address costs associated with legal judgments or orders. A person who has a child support obligation may be penalized for failing to meet that requirement and so may choose to address it before their credit card debts. If, though, a person can pay for their needs and can manage their judicially imposed costs then they may wish to begin attacking their high interest credit cards to chip away at their debts.

Credit card debt can become a problem for some during the holiday season. Before it becomes debilitating, Tennessee residents can seek the assistance of debt relief legal advisors to help them get their finances back on track.

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Kenneth C. Rannick, P.C.
4416 Brainerd Road
Chattanooga, TN 37411

Phone: 423-624-4002
Toll Free: 800-257-7594
Fax: 423-624-0509
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