Mahaffey & Associates, LLC
Call For A Free Consultation

Is it time to consider eliminating your debts?

In many cases, credit card debt is an insidious thing. The situation can seem tenable, especially when you have multiple credit cards and the total level of debt rises gradually over time. Once you sit down and assess the full scope of debt, it becomes apparent that it is time to think about methods of eliminating your debts. The following advice is offered to help Ohio residents decide whether that time has arrived.

One way that consumers can evaluate their personal debt scenario is to look at when and how credit cards are being used. When small, everyday purchases are being paid for on credit, there is often a deeper problem. Credits cards should never be your only payment choice; the use of credit should be a carefully made decision that is in line with a larger financial plan.

Another sign that financial trouble is afoot is when your monthly budget only allows for the minimum balance to be paid on credit card accounts. Paying the minimum is a poor financial move over time, and will lead to massive interest charges on purchases that have long outlived their usefulness. When income is not sufficient to aggressively pay down debt, it may be time to consider other options.

For those in Ohio who find that they are turning to credit to cover minor expenses, and are unable to make more than the minimum monthly payment on credit card debt, a closer look is called for. In some cases, filing for personal bankruptcy is the best way to address high levels of credit card debt. Once eliminating your debts becomes a top priority, a good course of action involves making an appointment to discuss the matter with a bankruptcy attorney.

Source:, "3 Reasons You Can't Get Out of Debt", Andrea N. Browne, Oct. 28, 2015

No Comments

Leave a comment
Comment Information

Ready To Help

Call Mahaffey & Associates, LLC, toll free at 888-422-6894 to speak with one of our experienced lawyers.

We offer free initial phone consultations. Evening and weekend appointments are also available upon request.

We accept Visa, MasterCard, Discover and American Express.

VISA | MasterCard | American Express | Discover Network
Tell Us About Your Legal Need

Tell Us About Your Legal Need

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

A Full Service Firm For Northwest Ohio with Three Convenient Locations 24/7 Phones And Appointments Taken at 888-422-6894.

Sylvania Office
8527 Central Avenue
Sylvania, OH 43560

Sylvania Law Office Map Phone: 419-829-2255

Northwood Office
3200 Woodville Road
Northwood, OH 43619
Map & Directions Phone: 419-693-5515
By Appointment Only

Toledo Office
3131 Executive Parkway, Suite 100
Toledo, OH 43606
Map & Directions Phone: 419-472-5555
By Appointment Only