In our #CreditChat, we talked with Dr. Scott Rick from the University of Michigan's Ross School of Business and our community about ways to manage and pay down debt. You can find all the resources and tweets here: http://www.experian.com/blogs/news/about/manage-debts/

1. #CreditChat
Wednesdays | 3 p.m. ET
How to Strategically Manage Debt

2. Join our #CreditChat every Wednesday at 3 p.m. ET.
This week, we discussed how to manage and pay off debt.
“ Check out all video and resources shared:
bit.ly/manage-debt

3. Featuring: Dr. Scott Rick @scottianrick
University of Michigan’s Ross School of Business

4. Wednesdays | 3 p.m. ET
#CreditChat
Why is it easy to fall into debt?
What kinds of debts?

5. Some fall into debt because of an emergency or loss of income,
but for many it’s just spending more than they earn.
Tweet by @magnify_money
#CreditChat

6. A lot of people fall into debt via impulse spending and
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not having a plan to pay off credit cards.
Tweet by @moneycrashers

7. Tweet by @csmithraleigh
is a bad recipe for financial progress
Instant gratification plus a lack of awareness
#CreditChat

8. Tweet by @scottianrick
Inability to resist temptation is intuitive response.
#CreditChat
But there are other sources: medical bills, mismanaging bills.

9. It’s easy to fall into debt without a budget because
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we don’t know how much we’re spending and if we’re living within our means
Tweet by @mymoneycoach_ca

10. Tweet by @ACCC_Helps
A lack of education about credit and credit terms
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can cause serious financial problems.

11. #CreditChat
If you don’t establish good financial habits early on, you can fall into debt easily.
Tweet by @Quizzle

12. Tweet by @GarrettPlanning
“Optimism” is one of the reasons I see people fall into debt.
Tomorrow/next year I’ll have extra cash.
#CreditChat

13. Tweet by @GraceKvantas
#CreditChat
Debt issues can occur at all income levels, not just in low income households.

14. Wednesdays | 3 p.m. ET
#CreditChat
What are pros/cons of using credit cards?
Why can cards lead to debt?

15. Tweet by @scottianrick
#CreditChat
Credit cards are less painful to use than cash, encouraging debt.
Repaying debt from forgotten purchases is painful.

16. #CreditChat
People need to understand their personality types before getting a credit card.
Tweet by @magnify_money
Don’t use if you are an impulsive indulger!

17. Tweet by @Quizzle
Credit Cards help you establish credit. Good use can increase your score,
#CreditChat
but if you’re not responsible it will do the opposite.

18. #CreditChat
Tweet by @MyMoneyCoach_ca
Sticking to cash is a good way to manage your money
and ensure you live within your means.

19. Tweet by @GarrettPlanning
#CreditChat
Credit cards are convenience tools - not for long-term financing.

20. Wednesdays | 3 p.m. ET
#CreditChat
How to do you choose what credit card
or loan to pay down first?

21. Tweet by @ReadyForZero
We think focusing on the highest interest (and therefore most costly)
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debt first. Stick to debt avalanche method.

22. Take into account both the highest interest and highest balance
Tweet by @LeslieHTayneEsq
when paying off credit cards and loans!
#CreditChat

23. #CreditChat
Tweet by @GerriDetweiler
Pay down debt by having an overall financial game plan.
#CreditChat

24. Wednesdays | 3 p.m. ET
#CreditChat
What advice do you have for paying
down credit cards faster?

25. Target one credit card account and pay minimum on others.
When paid off, roll over that payment to new target account until debt free.
#CreditChat
Tweet by @ReadyForZero

26. Tweet by @MomCentsPF
If you have a good payment track record, ask for a lower interest rate.
#CreditChat

27. I understand the urge to pay off individual debts,
Tweet by @scottianrick
but you’ll be better off if you can focus on debt with highest APR.
#CreditChat

28. Tweet by @YesIamCheap
Never pay only the minimum! Look at the payment schedule
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on your statements to see how long it will take to pay it off.

29. Wednesdays | 3 p.m. ET
#CreditChat
How can we stay motivated to
keep paying off debt?

30. Tweet by @MoneyCrashers
Automate credit card payments to coincide with your paycheck.
#CreditChat

31. Tweet by @ACCC_helps
Reach out to a reputable nonprofit credit counseling agency to get
free advice on how to best attack your debt.

32. Tweet by @Frostbe
Set goals and check them off as you achieve them.
#CreditChat
If you got in debt as a couple, work together to get out.

33. Tweet by @GerriDetweiler
Don’t be afraid to reach out for help (aka credit counseling agency).
#CreditChat

34. Wednesdays | 3 p.m. ET
#CreditChat
Check out all the resources and tips shared:
bit.ly/manage-debt

35. Join Us Every Wednesday at 3 p.m. ET.
bit.ly/join-creditchat
#CreditChat
Wednesdays | 3 p.m. ET

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37. #CreditChat
Wednesdays | 3 p.m. ET