By Larry Goldberg

We all know how important our credit scores are, right?

But did you know that the amount of debt you have can impact your credit report? People who are drowning in credit debt run the risk of lowering their credit scores significantly, and this happens all too often with today’s consumers relying so much on their credit cards.

Now, having some credit debt is not necessarily a bad thing. In fact, your credit report and score will be better if you have some debt because it shows credit card companies and other lenders that you have established yourself as a credit card user and can manage your accounts.

Credit debt only leads to a lower credit score when you have amassed so much that it surpasses, by far, your available credit. High credit debt might also indicate that you aren’t using your credit cards wisely or are not able to pay them down in a timely manner. Things like this can negatively affect your credit report, which will in turn impact what you can and can’t do with your money.

To find out more about accessing Identity Theft Protection  - Repairing Your Credit and learning how high debt can affect it.

By Larry Goldberg

            If you’re like many Americans, then you know easy it is to rack up credit debt.  It’s very easy to fall into that credit card trap where it just seems so simple to swipe that card for every purchase and not have to worry about money coming out of your pocket right then.  The bad part is that the money does eventually come out of your pocket, and often it’s a lot more than what you would have paid.  You also now have the added stress of worrying about your monthly bill and how you’re going to pay it.

            If you’ve gotten into the habit of relying on your credit card for practically every purchase and you’ve already amassed a large amount of debt, then consider contacting a debt counseling service.  Debt counseling services are there to help you sort out your finances, create a realistic budget, and manage your accounts.  These counselors are knowledgeable in the ways of consumer credit, and they want to help you learn how to spend responsibly and take care of your accounts.

            Don’t struggle alone with your credit debt any longer.  To learn more about how credit card debt counseling can help you, just click around on LetsGetCredit.com.