NEW YORK (WABC) —
From everyday shopping to charging student loans, medical bills and all those unforeseen expenses — credit card debt has ballooned.
Most Americans carry at least $5,500 on plastic, and the fees are keeping us in a revolving door of debt.
“If you have multiple high-interest credit cards, it’s going to become increasing hard to manage your debt and really expensive,” personal finance expert Andrea Woroch said.
She warns those of us drowning in debt not to grab the first life preserver thrown your way, because loan waters are chock full of predatory sharks and scams.
Be wary of anyone coming to you to sell something, and it’s important for you to do your own research.
A personal loan could help restructure your debt, but…
Read the full article at: http://abc7ny.com/finance/7-on-your-side-is-a-debt-consolidation-loan-right-for-you/3371907/