Credit card use can easily slip into the category of an addiction. Credit accounts can be an “easy way out” for some consumers, but the time to pay the piper always arrives. Ask any bankruptcy attorney about credit card debt, and they will likely tell you that credit card debt is one of the top causes of personal bankruptcies, with medical bills often leading the pack of bills owed by consumers.

One problem that occurs with credit card debt is the insidious way that the total amount owed can creep up to a rather staggering amount. This can happen over a few months or years, as the debtor continues to charge while only paying the monthly minimum amounts due.

Habitual use of credit cards for everyday expenses, food, dining out, games and other expenses that should be paid for in cash causes balances to accumulate quickly. The spender often does not keep track of their expenses and has no clue how much they owe overall. Keeping track of spending is an essential task for breaking credit card addiction. Vowing to pay cash or forget it is another good tactic to use when trying to stop the debt train.

There are many great suggestions for breaking an addiction to credit cards. A basic change in behavior is called for, along with reduced expectations and altering attitudes about desirable lifestyles. Being debt free is an excellent goal. Some consumers have to turn to bankruptcy in order to get a fresh start. This is not a bad thing; it can be the drastic measure that finally does break this damaging cycle of excessive debt.

If you have unmanageable credit card debts, it is wise to consult with a bankruptcy attorney to review your situation and find an acceptable solution. Do not delay. Stop charging and call your lawyer today.

Source

MSN Money: “How to break addiction to credit cards,” Jan. 26, 2012