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 identify 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 at least 2 credit cards and 14% of them have 10 or more credit cards.

Eliminate debt in a few simple steps - Portland and way ahead!

What Debt Does

If you are wading through bills each month, with high credit card balances, and no way to make anything but minimum payments, you are looking at a lifetime of debt. Barring a huge inheritance from that rich uncle or a lottery win, you will simply spin your wheels for years to come. There are solutions, and you can reduce and eventually eliminate debt in a few simple steps.

Portland Debt Help

Getting out of debt takes some self-discipline, some commitment, and finding the right professionals to help you in the process. Contrary to what you may have heard, there are debt relief organizations that are ethical, professional and provide a wide array of services for free. The first step is to make that call or get online and do a little research. Follow the next steps:

Talk to a counselor at the organization and ask important questions. What do they offer for free? They should offer financial evaluation, help with budget development and a series of education and training seminars to help you become a responsible personal finance manager. How long have they been around? Signing up with a firm that is new on the scene could be risky. Are they affiliated with national associations? If they are, they are following the guidelines and regulations of that association and fees will be moderate in comparison
Get exact fee figures for debt management plans and pre-bankruptcy counseling, if you think this will be your eventual solution.
Be certain to find out if there is follow-up assistance to keep you on track with your plan.

Once you have selected the organization, take the counselor's advice. He/she is certified and will steer you on the right path. Two organizations which have a long history in Portland are:

Clearpoint Financial Solutions (www.clearpointfinancialsolutions.org)
CCCS of Tri-Cities (www.cccsintl.org)

Some Other Budget Tips for Residents and Tourists

Portland has a great public transit system, and travel by bus, tram or street car is free in the downtown area. Low cost eating is available at numerous restaurants, to include Lucci's and the Belgian Embassy. Visit the City Center, Washington Park, with its gardens and zoo, and the Mission Brew Pub with its $3.00 movies for low cost entertainment. The Park Lane Suits and the HI-Portland offer very moderately priced accommodations that are comfortable.