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Protect yourself from consumer debt pitfalls

So you're a resident of Washington D.C. who has been in some financial trouble before, but you're trying to avoid slipping back into debt. We at Ammerman & Goldberg Bankruptcy Law Office wish to help give you tips to help you dodge those hurdles, especially in regard to consumer debt.

First, minimize temptation. All of those credit cards that stores hand out should be avoided. Ideally, you should have no more than 2 credit cards at any given time. Cutting into that number will both reduce your interest rates and monthly bills, and it will allow you to avoid the temptation of just being able to nip over to another credit card once you hit your limit on a different one.

Second, make sure to pay attention to interest. Whether it's your credit card or your mortgage, you may overlook your interest rates in favor of the pricetag. But large interest rates can end up costing you quite a lot in the long run, and can stack in a way that quickly buries you under more debt than you thought possible. Falling behind on just one payment can result in a slide that will put your financial status in serious jeopardy.

Financial situations differ from person to person, but having some solid steps to protect yourself from debt can help you out hugely in the long run no matter what your level or type of problem may be. To read more about methods of monitoring your spending, click the link and take a look at our website.

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