According to a recent report prepared by a government office in another state, Floridians are prone to falling behind on their credit card bills.
Many Tallahassee residents have no doubt seen credit card companies and stores offer same as cash incentives in which a Floridian can buy a big-ticket item, like furniture, an appliance or even a car, and then pay it off over several months without having to worry about interest.
Although the numbers have gotten better in recent years, many Americans would not be able to pay off their credit cards in an emergency, as they do not have enough in their emergency savings accounts to do so even if they needed to.
The federal CARD Act, passed about 10 year ago, offers important protection to residents of Tallahassee who use credit cards. It is important for Floridians to understand what their rights are under the CARD Act. If they realize that their credit card company has not followed the law, then they may want to consider contacting a credit card debt relief attorney in Florida to evaluate their legal options.
Recent reports have suggested that once the final numbers come in for 2017, they will show that Americans collectively are carrying more credit card debt than they ever have before, at over $1 trillion. This will be an increase over the last year of about $50 billion.
While most residents of Tallahassee either have and use or at least are familiar with how credit cards work, some might not know about federal laws which are designed to protect Floridians and people throughout the country unfair or unscrupulous practice at the hands of credit card companies.
The latest reports available suggest that, while the vast majority of people in the Tallahassee area and around the country continue to amass or at least owe different types of consumer debt, a surprising number of them, more than 1 out of 4, have no real plan as to how they will pay off their debts.
As the holidays quickly approach, the struggle of giving quality, personalized gifts to friends and family with a price tag that fits your budget is sure to arise for many. Especially if you have children or young relatives, you want to give them a gift they can brag about, or at least be able to proudly proclaim to friends what he or she received.