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05 Oct 2012

Colorado Springs Bankruptcy Attorneys on the 7 Deadly Sins of Credit Card Usage

Colorado Springs credit card debt is easily one of the main sources of financial upheaval.

Of course, Colorado Springs debt relief attorneys know that they can be a great asset if you use them the right way. However, when times are tough, some see them as easy access to money they don't have. But that's the problem: If you don't have the money know, chances are you aren't going to have three times the money next month when the bill arrives. This is where people find themselves in deep trouble.


1. Gluttony. Mostly, this involves maxing out your credit cards or borrowing just about up to your limit. For example, if the issuer of the card offers you a $5,000 limit, that doesn't mean you should take out $4,500 of it just because you can. What's more, when you take out that much, you risk harming your credit score. It increases your debt-to-income ratio, and makes it appear as if you are high-risk.

2. Pride. Many people simply assume that their credit score is Ok, so they don't bother checking it. However, in a lot of cases, errors are common. Sometimes, creditors mark that you are delinquent on a payment, when in fact you aren't. It's important to know where you stand.

3. Lust. This comes in the form of applying for more credit than you can actually afford. Plus, the more credit card inquiries you have, the worse your credit score will be.

4. Greed. Cash advances on credit cards are usually a bad idea. The interest rates on these transactions can sometimes top 25 percent. Take out only what you need - and know that you can pay back in a timely manner.

5. Envy. When you apply for a credit card that is above what you can afford. A lot of times, platinum or gold cards come with astronomically high annual fees. They only really pay off if you travel enough to earn the rewards.

6. Wrath. There may be a temptation to cut up all your credit cards if you've been badly burned by one company. However, this is a bad idea because it won't give you a chance to rebuild your credit.

7. Sloth. If you don't check your monthly statements, you risk the possibility that you could be paying for things that you previously signed up for and have since forgotten about.

Stephen H. Swift

Managing Attorney
Law Office of Stephen H. Swift, P.C.

Client Testimonials

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    "My attorney (Matthew Hansen) is a very kind person.  I felt very confident in his skills. He is very knowledgeable and efficient.  He didn't make me feel embarrassed to be filing for bankruptcy.  Thank you Matthew!  Laura was very friendly, and everyone I interacted with was very nice and helpful as well." 

     

      –  Sherry M., Colorado Springs, CO

     

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    "Steve explained things well so you know what you're doing.  The staff was very helpful with everything, including the paperwork." 

     

      – Raymond & Rhonda P.,                         Colorado Springs, CO

     

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    "From the first time that I entered the office, I was treated with the utmost respect. It was like I had been knowing all of the employees for years!! Every person that I came in contact with was extremely courteous!!!

    I rate my overall experience a 12!! And I wouldn't change a thing on the website.

    Cris is absolutely wonderul!! While Alicia was extremely courteous and humorous!!!  Stephen (Swift) was extremely professional and courteous. One of the nicest gentlemen that I have Had the pleasure of working with. I can't thank him enough."
        

      – Pete, Colorado Springs, CO  

     

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    "Upon my first visit to the office, I was in an unfamiliar part of town.  I was also bewildered and experiencing anxiety.  I was not even sure I should be there or how to proceed in a very new situation where my back was against a wall.  The first person I met in the office was the lovely receptionist.  I have to say that she has the absolutely right demeanor and is extremely successful in her position.  She has a slight but comforting smile and persona.  She is confident but not arrogant in processing the needs of clients.  I do not feel that this is a small achievement in any way.  I feel this person in many ways sets the tone for the office as the gate keeper of the office and emotional clients.  She definitely helped me thru this process with her silent and dedicated service to me, the clients and the office."

     

    John C., Colorado Springs, CO

     

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    "Upon entering Steve's office, one immediately knows they have entered his "zone".  Steve will talk, think, contemplate, then act.  He then spins his chair around, garbs paper, types on the computer and zaps something thru the printer.  Occasionally, a document needs to be scanned or something else from outside the office is needed, and Zap someone appears without having to yell down a hall or call out.  There is definitely a team here that is in sync.  There may be a question out of the blue suddenly or a brief conversation about something else.  The whole time, Steve is on point.  I felt from day one, a trustworthy confidence in placing my future in his hands.  I was not wrong.  I also never once felt rushed, brushed off or that my concerns were not his.  I felt that Steve is in this for me and his clients.  I have a debt, gratitude and confidence in Steve and the Swift team that far exceeds the fees pain." 

     

      – John C., Colorado Springs, CO

     

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    "Thank you to everyone who worked on my case.  My driving priviledges are now restored and I have a fresh start.  I am very grateful to the Swift Law Firm!   Everyone was very kind and helpful and easy to talk to.

    Ward was very knowledgeable and knows the pros and cons of your case. Definitely a man to listen to concerning your case, and he was very helpful!

    Matt Hansen is a good man, very helpful, gives good advice  AND he is willing to go the extra mile.  Steve Swift is a man of action who knows his profession.  He lifted a heavy burden, and I cannot thank him enough for an excellent job!"  

     

      - Henry R., Colorado Springs, CO  

     

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