Financial Planning

Help! Too Much Debt!

Written by Mint.com
Published Apr 27, 2010
1 min read
The views expressed on this blog are those of the bloggers, and not necessarily those of Intuit. Third-party blogger may have received compensation for their time and services. Click here to read full disclosure on third-party bloggers. This blog does not provide legal, financial, accounting or tax advice. The content on this blog is "as is" and carries no warranties. Intuit does not warrant or guarantee the accuracy, reliability, and completeness of the content on this blog. After 20 days, comments are closed on posts. Intuit may, but has no obligation to, monitor comments. Comments that include profanity or abusive language will not be posted. Click here to read full Terms of Service.

Even as consumers have reduced their credit-card spending in recent months, many struggle under mountains of debt. In 2008, Americans household that had credit cards owed an average of $10,691 on them, according to CardWeb.com. More than half carried balances of $7,000 or more. If you feel trapped under your credit-card debt, check out our latest infographic. We walk you through three possible solutions: credit counseling, debt settlement or consolidation and, as a last resort, bankruptcy. Which option may work for you will depend on your individual circumstances and, chances are, you will need to do a lot of research before making a choice. Ultimately, however, the real key to getting out of debt is universal: make sure you never use your credit cards to purchase things you cannot afford.

Embed the above image on your site
<a href=”http://www.mint.com/blog/wp-content/uploads/2010/04/Debt_Help_Consolidated_Complete.jpg” mce_href=”http://www.mint.com/blog/wp-content/uploads/2010/04/Debt_Help_Consolidated_Complete.jpg”><img src=”http://www.mint.com/blog/wp-content/uploads/2010/04/Debt_Help_Consolidated_Complete.jpg” mce_src=”http://www.mint.com/blog/wp-content/uploads/2010/04/Debt_Help_Consolidated_Complete.jpg” alt=”” title=”Debt_Help_Consolidated_Complete” width=”600″ height=”5446″ class=”alignnone size-full wp-image-10344″ /></a><br /> <a href=”http://www.mint.com/” mce_href=”http://www.mint.com/”>Budget Caclulator</a>- Mint.com