How Debt Works

When it comes to maintaining a healthy financial outlook, you don’t have to be completely debt-free. Although credit and debt can cause big problems for you financially if you don’t manage your money responsibly, credit and debt can be useful financial tools in providing a better life for you and your family—if they’re used correctly. From helping you get your dream home or getting a new car to affording that family vacation you want to take, credit cards and loans can help you get where you want to be in life as long as you keep a good handle on your debt.

At Consolidated Credit Solutions our certified credit counselors are experts at understanding how debt works and helping you use debt and credit to your best advantage. If you’re worried you aren’t on top of managing your debt, give us a call at 1-888-294-3130 and let a credit specialist help get you on the right track.


Types of Debts

Not all debts work the same way and understanding the differences between various kinds of debts can mean the difference between being financially successful and putting yourself in a financial bind. Get information about the various types of consumer debts you can have and how each type of debt works, so you can be better equipped to manage your debt to your best advantage.
Understand what kinds of debts you have


Understanding APR

Annual percentage rates (APR) are the interest rates applied to the various debts you hold. Understanding how APR works is essential to making the most out of credit and paying off your debts in the most strategic way possible. Learn how APR interest rates work and see how various kinds of APR can be applied to your debts, depending on what you do with credit and how you pay your debts off.
Get a better understanding of APR


Credit Cards

Credit cards are handy financial tools, but they’re also one of the easiest ways to get your finances into trouble with debt. Get real facts on using credit cards successfully to avoid building up too much debt, with tips on how to use credit strategically to improve your financial outlook. With the right strategy, you can use credit without staying awake at night worrying how you’re going to pay the bills.
What you need to know about credit cards