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Once credit card debt piles up, it’s difficult to get rid of. The high interest rate can force you to pay thousands more than what you originally charged to the card. Filing for bankruptcy can help you get back on track, but after your debt discharge, you’ll need to be careful to avoid falling into the same credit card traps. Watch this featured video for help understanding credit card APRs.

APR is an acronym for annual percentage rate, but it’s actually calculated and billed monthly, not annually. The higher your APR is, the more you’ll pay in interest if you carry a balance from month to month. By improving your credit score over time, you’ll eventually qualify for a card with a lower APR—but you should still pay off the balance each month.

Struggling to find a way out from under a mountain of credit card debt? You can call Cutler & Associates, Ltd. at (847) 961-4572, and request an appointment with a bankruptcy lawyer near Aurora.