The most common debt today is credit card debt. There are certain reasons why one gets trapped in debt? The chief cause of credit card debt is the job loss. Sometimes when everything is fine you get a credit card from bank. After all monthly expenses you somehow manage to pay your credit card bill also. Job loss and decreased wages or emergencies of life are factors that compel one to be in debt. If you failed in paying credit card bill, bank may Sui you. They may ask to mortgage something to pay your dues. There are many side affects you have to face then.

If you want to get job in a reputed firm, your bad credit image can spoil the opportunity. Every company today asks for back history. Moreover if you want a home loan or vehicle loan you’re failing in paying credit card bills, instantly unapproved your application. You may fail to have promotional opportunities in your job.  If debtor passes on your case to debt collector they find various options to extract money from you. Like they have authority to add on your internet and phone bills, even they can check your salary to directly pay to debt collector.

If you want to be free from your debts then you certainly need to know how to get out of it in a decent manner without making any further mistakes. You may negotiate your debtor before they knock the doors of law. If once court allows them to garnish your wages you will be in danger. So take seriously any legal notice send by debtor. The best way to pay of credit card debt is by going for credit card debt consolidation. For this you first need to hire a debt settlement counsellor who will teach you how to minimize your monthly budget, cease payment of your credit card until you clear off old dues. If you get a wages garnish notice, you may think to file for bankruptcy, bankruptcy however is not a good choice but if you are over head in debt you may choose this option, at least  you will get some portion of your salary to manage your essential needs. Today people are more aware to settle their debt cases to retain their credit in society. Just you have to choose better option of debt settlement.

Banks are giving you money to buy something but remember is not free, you have to pay for this because by offering you credit card banks are obviously earning money from you. Credit card bills pile up very easily if not taken care and looking at the wholesome due amount, you will lose hope to pay them ever. So if you are in any such cases first try to save money from your monthly expenses and then try to pay off small bills. When you feel your burden is diminished you will move to pay off large dues too. Try to earn extra money if your salary is not enough to pay off all dues. You may have to spend some additional hours for work to earn additional amount but it can help you a lot.