While navigating the journey through life, many individuals in Kentucky and elsewhere may develop various habits and preferences. While certain habits can be difficult to break, in some cases, bad habits could also pose a threat to various areas of one’s life. Studies indicate that there are some common patterns individuals fall into with their credit cards, some of which could only lead to a seemingly never-ending struggle with debt.

While carrying a balance on a credit card might not always prove harmful, studies suggest that continuing to spend money on accounts one cannot afford to pay off could lead to dire monetary struggles. Even if payments seem manageable at the time, those who continue to place purchases on credit accounts while only being able to make the minimum due might be one emergency away from a potentially devastating outcome. Even though swapping over to using cash for purchases may seem less convenient, it is likely more favorable than seeing credit card balances soar to unmanageable heights.

Studies also indicate that those who wish to take steps to get account balances under control might not always be aware of how best to achieve this goal. In some cases, experts indicate it could be more helpful to focus on paying off an account with the highest interest rate first instead of paying equal amounts toward each account. Unfortunately, there may be many individuals who struggle to meet even the minimum due on accounts each month and those facing a similar situation may find a more long-term solution is in order.

Individuals who continually struggle under high levels of credit card debt may experience a variety of hardships in life, but they might not be sure of how best to handle the situation. When facing similar challenges, a person in Kentucky could benefit from speaking with an experienced attorney for guidance on all his or her available options for relief. A bankruptcy attorney can evaluate the circumstances a client is facing and assist in creating a strategy to reduce or eliminate his or her debts through the proper channels.