1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will term you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have atleast 2 credit cards and 14% of them have 10 or more credit cards.

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Worried about your finances? Columbus, Ohio debt help just for you

When is Debt Too Much?

If you normally pay only the minimum amount due on your credit cards, if your balances increase each month, if you have thought about filing for bankruptcy, or if you skip paying your bills some months, or pay late, you have too much debt. Worry about this debt is probably keeping you up at night and causing discord in your household, as there never seems to be enough money to make it between paydays. The truth is, 70% of the American public has too much debt, and residents of Columbus, Ohio are no different. The first step is admitting the problem is beyond your ability to resolve. The second step is to get some local Columbus, Ohio debt help.

Getting the Help You Need

You probably need more than just debt relief. Most people who accumulate too much debt do so because they are not budgeting correctly and/or because spending habits have not been responsible. This can be changed with some good assistance in developing a budget, and getting some education and training in personal finance management. Good debt relief organizations will offer all of these services for free. If you enter into a debt management plan with a debt relief firm, you will be paying some fees. Debt relief usually involves negotiations with your creditors to reduce interest rates, late payments and total debt amount. Once those negotiations are completed, a single lower payment is established, which includes the firm's fees, and you will make that payment to the firm, which will then distribute the payments to your creditors. This is a valuable service because you will not have to conduct the time-consuming and difficult negotiations with your creditors when you may lack the skills to do so. In Columbus, Ohio, there are reputable nonprofit firms, whose fees are reasonable and who will provide the other services for free. Two of these firms are as follows:

Clearpoint Financial Solutions (www.clearpointcs.org)

Family Credit Management (www.familycredit.org)

Others can be found through an Internet search, and you would be wise to compare all rates before signing a contract with any firm.

A Word About Budget

Living on a tight budget is not really enjoyable but may be necessary for a period of time until the debt is eliminated. Cutting up credit cards and putting some amount in savings sometimes does not leave money for leisure and play. But, you can find small ways to reduce expenses which may leave some money for moderate entertainment costs. Eliminating small non-essential expenses can add up. As well, find inexpensive leisure activities like tourists would find if they visited Columbus, Ohio on a budget. The zoo, the Cultural Arts Center, the Kings Arts Complex and the Franklin Park Conservatory are a few attractions which can be enjoyed at reasonable expense.

Tourist Tips

Visitors to Columbus, Ohio will be surprised to find very reasonable hotel accommodations at Extended Stay America, the Comfort Suites, and the Country Inn and Suites. Moderately priced restaurants are all over Columbus and offer a variety of fare. The Spaghetti Warehouse, Bailey's Brewing Company, and Lindey's are three great eateries.