Several news stories in recent days have detailed reports stating that the number of delinquencies on credit card accounts rose during the final quarter of 2013 in the United States. Specifically, 1.48 percent of credit card borrowers were more than 90 days delinquent at the end of the fourth quarter of 2013 as compared to 1.36 percent at the end of the third quarter. In addition, the amount of debt present per credit card borrower rose to $5,376. These may seem like relatively insignificant numbers on a large scale, but they could signal trouble.
Given this news, it seems relatively clear that there are a lot of people out there who may need some help with getting their credit card debt under control. Anyone who has been through this will agree that it doesn’t take long before credit card debt seems to completely spiral out of control to the point where it is totally unmanageable. Below are 5 different ideas to keep in mind for people who are struggling with their credit card debt balances.