Is there a maximum amount of credit card debt I can have?

The answer to this question is yes, there is a maximum amount of credit card debt that you can have in Texas. According to the Texas State Attorney General, Texas consumer law places a total limit of credit card debt at 50% of your gross annual income. In other words, if your gross annual income is $40,000, then you would not be allowed to have more than $20,000 in credit card debt. This limit applies to all types of credit card debt, including balance transfers, cash advances, and charges. This limit also applies to any other kind of loan you take out, such as student loans, personal loans, and car loans. You should be aware, however, that this 50% limit only applies if you are a Texas resident. If you have moved from another state or are a resident of another state, the credit card laws in your home state may still apply, and you may be able to carry more credit card debt than 50% of your income. If you think you may be in danger of exceeding the 50% maximum credit card debt limit, you should contact a financial advisor to help you get your finances back on track. They can help you create a budget that will help you bring your debt down, and provide advice on the best ways to do so.

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Is there a maximum amount of credit card debt I can have?

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