The 10 000 Credit Card Challenge

Title:
The $10,000 Credit Card Challenge
Word Count:
955

Summary:
Thinking about conquering your mountain of debt but too scared even to give your debt much tho

Keywords:

Article Body:
Thinking about conquering your mountain of debt but too scared even to give your debt much tho

Ever wonder how some people deep in credit card debt manage to come out on top financially? Th

Never a big spender, Emily was shocked when she noticed that her two credit cards had a combin
* Emily took a lower-paying job when the economy went bust at the turn of the millennium.

* Hoping her lower income would be temporary, Emily didn’t sell her house to get one with a lo

* Emily paid only the minimum monthly credit card payment most months. She was paying interest


* When one of Emily’s credit card balances got within a few hundred dollars of the credit limi

Loans: Emily´s Salvation?
Emily considered taking out a loan to pay off her credit card debt. She owned a condominium wh

But a loan scared Emily: it would mean admitting her debt would not go away soon. Besides, Emi

For about a year, Emily argued with herself over whether to take out a loan to pay off her cre

Finding an Answer
Emily cried and cried as soon as she got home from the car dealership that day. It wasn’t just

Emily did not have to think hard about what went wrong. Her father had been able to pay for co
Unable to cope with having less than her parents had, Emily had used her credit cards.

Solving the Problem
Emily knew that since her lack of financial skills had dug her into her rut, she would need ou

She had heard about credit counseling services that took large chunks of the payments you made

Here’s what Emily got from the credit counseling service:

* Relief. Emily was relieved to learn that her $10,000 credit card debt is in fact about avera

* Surprise. The agency urged her to put money away for a rainy day fund, even as her credit ca

* Understanding. The counselor understood Emily’s reluctance to take out a loan, and helped he
* Clarity. With her finances planned, Emily could think much more clearly about her financial

Though her fiancé has no better financial prospects, Emily’s confident they can afford to give

After all, Emily knows that solid finances are just as good a shelter as a roof over your head

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