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Slaying the dragon: conquering credit card challenges

Consumers who are seemingly overwhelmed by flatly staggering credit card balances do with some regularity step up to engage in prolonged and unflinching battle with the enemy that ultimately results in victory.

And then some of them note that fact online and in other media outlets, going public with the details with the stated intention of motivating others to do the same (although it seems likely that any person who squares off in a war with credit cards and wins also simply wants to brag a little).

One encumbered debtor who now goes by the moniker "Queen of Free" is a case in point. After she and her spouse toiled hard for several years to extinguish a forbiddingly high debt balance, she wrote a book about the challenge and ultimately defeating the plastic in her wallet.

In essence, she says, she and her husband slew the dragon, which is how they characterized the onerous exactions facing them.

Many people get that imagery and want desperately to prevail in a get-out-from-under contest with debt, but doing so can be a flatly daunting task, especially when outstanding debt has floated upward to truly escalated levels.

A number of financial commentators note the spiraling debt cycle entrapping many American consumers in a recent article that focuses upon strategies that can help hard-pressed individuals and families extricate themselves from debt.

There is no magic bullet or ready panacea, they note. What does avail is sustained effort to knock down balances, coupled with rigid discipline regarding purchasing choices and a realistic perspective concerning what type of lifestyle can really be afforded.

One financial consultant says that many consumers simply assume passivity in the face of high debt levels, fearing that they will be unable to refinance debt or otherwise deal with it in a more advantageous way.

Some of those debtors might want to consider having a candid and confidential conversation with an experienced debt-relief attorney, who can help them explore options to better manage their debt and regain financial traction.

Bankruptcy laws and other debt-relief measures do in fact -- and routinely -- help underwater consumers secure a fresh financial start.

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