{"id":7334,"date":"2016-01-29T15:55:41","date_gmt":"2016-01-29T21:55:41","guid":{"rendered":"https:\/\/www.netcredit.com\/blog\/?p=7334"},"modified":"2020-03-17T15:27:32","modified_gmt":"2020-03-17T20:27:32","slug":"tackling-debt-like-a-pro","status":"publish","type":"post","link":"https:\/\/www.netcredit.com\/blog\/tackling-debt-like-a-pro\/","title":{"rendered":"Tackling Debt Like a Pro"},"content":{"rendered":"<p>Today, millions of Americans are facing a serious amount of debt. The average U.S. household has over $15,000 in credit card debt. [1] That\u2019s a hefty amount to pay off, especially when you factor in the interest that accrues over time. High credit card balances can also be damaging to individual credit scores, which drives up the costs of everything from mortgage rates to insurance premiums. [2]<\/p>\n<p>Additionally, most student loans can\u2019t be forgiven, even if you declare bankruptcy. The same rule can apply to other debts, too, including some credit card balances and tax bills. Failure to pay can have serious consequences, like freezing of assets or wage garnishment. [3]<\/p>\n<p>Meanwhile, wages haven\u2019t budged much while the burden from borrowing continues to rise. The result? Today\u2019s average U.S. household has a total debt of more than $128,000. [1] While it\u2019s good to know you aren\u2019t alone in your financial struggles, it doesn\u2019t solve the issue of getting rid of debt before it drags you down any further.<\/p>\n<p>Finding a way to get rid of debt without going broke is a priority for many Americans, but it can be difficult to come up with a plan of attack on your own. Fortunately, there\u2019s a simple way to face debt with confidence and, surprisingly enough, you\u2019ll learn more about it just by watching your favorite sports teams compete. That\u2019s because to truly take debt down, you need to think like an athlete. The pros use smart strategies to prevail over their opponents\u2014why shouldn\u2019t you do the same with your debt?<\/p>\n<p>Conquering this money mess isn\u2019t easy; if you want to save on interest and cut back the time spent paying debt down, some sacrifices will be necessary. But with the right strategy, you can get rid of debt sooner rather than later, freeing you up to start living the life you want. In addition, individuals and families can use clever tricks to chip away at that mountain of debt a little faster each month.<\/p>\n<p>Interested in hearing these savvy, sports-inspired strategies? Here are the debt-tackling tactics you can use to get back in the black.<\/p>\n<p><a href=\"\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1.jpg\" rel=\"attachment wp-att-7348\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-7348\" src=\"\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1.jpg\" alt=\"Tackling Debt Like a Pro\" width=\"792\" height=\"3539\" srcset=\"https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1.jpg 792w, https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1-67x300.jpg 67w, https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1-768x3432.jpg 768w, https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1-229x1024.jpg 229w, https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1-150x670.jpg 150w, https:\/\/www.netcredit.com\/blog\/wp-content\/uploads\/sites\/3\/2016\/01\/NetCredit-Tackling-Debt-Like-a-Pro_D3_JAN29-1-1-640x2860.jpg 640w\" sizes=\"auto, (max-width: 792px) 100vw, 792px\" \/><\/a><\/p>\n<p>Sources:<\/p>\n<p>[1] http:\/\/www.nerdwallet.com\/blog\/credit-card-data\/average-credit-card-debt-household\/<\/p>\n<p>[2] https:\/\/www.experience.com\/alumnus\/article?channel_id=managingyourmoney&amp;source_page=additional_articles&amp;article_id=article_1131053248326<\/p>\n<p>[3] http:\/\/fortune.com\/2015\/07\/09\/3-reasons-average-americans-may-be-worse-off-than-greece\/<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today, millions of Americans are facing a serious amount of debt. The average U.S. household has over $15,000 in credit &#8230;<\/p>\n","protected":false},"author":2,"featured_media":7337,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[626],"tags":[107,133,134,135,6,136],"class_list":["post-7334","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-improving-finances","tag-credit-2","tag-credit-cards","tag-credit-scores","tag-debt","tag-infographic-2","tag-paying-off-debt"],"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","pp_post_mime_type":"publish","yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Tackling Debt Like a Pro - NetCredit Blog<\/title>\n<meta name=\"description\" content=\"Conquer your finances by trying out these techniques on tackling your debts like a pro.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.netcredit.com\/blog\/tackling-debt-like-a-pro\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Tackling Debt Like a Pro - 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