Many people refer to debt like quicksand and that is a good analogy.
The fact is that while we all think it is easy to avoid, debt is actually very hard to stay away from.
As the bills pile up and the wages earned shrink we start to rely on our credit card more to help pay for the basics like food, gas, clothes, expenses and even to cover the occasional bill you have to pay when you live in San Antonio.
As the numbers go up on the charge card and we finance other things directly from the store we buy it from, we notice that our minimum monthly payments are actually more expensive than anything else is.
Not only that but the monthly payments are so expensive but the majority of them only cover the interest rates and finance charges and not the actually money we borrowed.
When you owe too much money you need to find a way out of it, and it will not be easy.
The first thing you need to do is set a budget.
This will allow you to pay less each month and save money, making it possible for you to pay more than the minimum each time your bill is due.
Another way you can get out of the hole faster is to modify or restructure the deal or loan.
Many of your numbers are based on what your credit score was at the time you applied for the loan or financing.
If you can improve your score and do it quickly, you can restructure your deal and lower the rates.
That means you will either save hundreds of dollars a month, or make the same payments but have them take off more of the overall balance owed.
If you need to get your score fixed and do it fast you can look to a credit repair company to do the job.
What makes credit repair great is not only is it affordable and does the job in weeks, but it can fix a score no matter the reason it was lowered.
It is easy to find a company that can help you right here in San Antonio.
By David George