Indiana residents: Think long and hard about debt relief solutions

Many Indiana residents are struggling with debts and trying to figure out how to not lose things like their cars and homes to repossession or foreclosure. This had led many to make bad financial decisions that end up doing more harm than good.
For example, many Indiana residents have no doubt heard of zero-balance credit card transfer offers. These zero-balance cards typically allow a person to transfer over a debt and not have to pay any interest on that debt for, in some cases, up to 18 months.
Some hear of a deal like this and decide to pay off their car with their zero-balance credit card. The idea being that as long as the car is paid off before the introductory zero interest rate periods is up, they will actually be saving money on interest charges.
The issue though is that while this may sound like a good idea in theory, in practice there are a number of red flags. The first being that if the car is not 100 percent paid off by the time the introductory zero interest periods is over, the interest charges will actually cost more than if the balance was never transferred.
On the flip side of this, if a person has enough money to be able to pay off the car on the credit card before the introductory rate is up, this person is most likely able to just write a check to pay off the car and never have to deal with transferring the balance and trading installment debt to revolving debt. Besides, changing debt from installment to revolving tends to negatively affect a person’s credit score.
In the end, the take home message is that while there are a lot of great theories floating around on how to take care of financial situations, it is important to talk with an experienced debt relief attorney before making any rash decisions.