Are you living from paycheck to paycheck and struggling to pay the minimum balance on your credit cards? If you lost your job or had a medical emergency would you be plunged into a financial crisis because of your accumulated debt? Living under a mountain of bills can be extremely stressful and it is easy to believe that you will never get ahead.
What To Consider
Bankruptcy and the price of walking away from debt
Bankruptcy may be a tempting option for you right now. Take a moment to consider that if you take that route, your records will reflect for a decade or more that you declared bankruptcy. You may have difficulty renting, borrowing money or even getting a job because of your bankruptcy record and any future credit you are offered will be at a much higher interest rate.
How Harborstone can help
No matter how much debt you are struggling with, you can begin today to make a change, and Harborstone is here to help.
There are steps you can take today to climb out of debt. The first step is to take charge of your spending. You can eliminate your debt by setting up and sticking to a regular payment program, and by stopping all new credit card charges. Harborstone can help you start this process. As your debt begins to go down, by maintaining your payments, your debt will begin to decrease faster. The second step is to make a budget and stick to it. The following financial tools will help you get on the right track.
- How much am I spending?
- What will it take to pay off my balance?
- What's it worth to reduce my spending?
- What will it take to pay off my balance?
- Should I consolidate my credit cards?
One good way to avoid debt is through proper financial planning. While we do not offer legal or tax advice to our members, we do have solutions that may help keep you out of debt. Our financial advisors can help you develop an investment and insurance plan to best fit your needs.