[SIZE="4"][COLOR="Purple"]Commons reasons for credit card debt:-[/COLOR][/SIZE]
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[*]Missing payments - To avoid this clients with constant credit card debt are advised to set up a direct debit.
[*]General overspending - To avoid this only use credit card when you are sure you can pay the balance off at the end of the month.
[*]Clients being loyal to credit card providers - Always change your credit card provider once the low or interest free period is over. Remember credit card companies have no loyalty to you so don't be loyal to them.
[*]Having too many credit cards - The more credit cards a person has the more likely they are to use them. To avoid this only use one or two at a time.
[*]Expensive payment protection insurance - Most premiums are high with payment protection insurance and the payout conditions are very questionable.
[*]Not prioritising debts - Credit card debt is built up by not paying expensive credit card debt first.
[*]Get advice too late - Clients bury their heads in the sand. We call this the ostrich debt condition.
[*]Getting advice from the wrong places - Avoid getting advice from credit card debt advice firms who advertise on TV, Radio or in the tabloids.
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It definitely spirals out of control. So much of it mind tricks- convincing yourself you'll have the money later or be able to pay it off.
