The Debt Relief of America
In America, credit cards have become a common way
to make large purchases. The problem is, too many large purchases turns
into large debt.
Credit card debt has started to become a serious problem in America. While
initially, making more large purchases is good for the American economy,
many families find themselves with greatly reduced disposable income once
too much interest charges have accumulated on their credit cards. With
less disposable income, there is less large purchases being made, making
creditors the main beneficiaries in the United States today. This is why
we at Credit Card Debt Consolidators strive to offer a simple solution,
the debt relief of America.
The Severity of the Credit Card Debt Problem
We a Credit Card Debt Consolidators believe that credit
card debt has become a serious problem in America. It is far too easy
to fall into the debt trap. How this happens occurs in a series of steps.
We believe that it is important for the American consumer to know these
steps so as to avoid the trap.
Click here for more information
The urge to spend is out there
Existing pre-conditions are well in place for the trap to occur. In America,
people love buying things. And this is a good thing. Shopping can be entertaining,
instill a sense of accomplishment, help you get out of a bad mood, make
you feel better about the home you live in, and overall, is good for the
economy. Let's also not forget that it is necessary. You need to buy things
in order to live. However, there is also a lot of pressure from companies
to buy higher priced brand name items, which are not always made of better
Creditors take advantage of this urge
And here is the first step. The message of spending
is out there, and creditors send the message that you can buy those things
even if you do not have the money. And the consumers of America line up
to do so. On average, the consumers of America have 6 credit cards in
their name. According to an average of statistics, the typical credit
card will have a debt load of $2500. Throughout the year, at least one
third of Americans will charge roughly $6000 on credit.
Free money anyone?
The freedom to make purchases that you would
normally have to save up for leaves a lot of people with the sense that
credit cards are sources of income. As long as there is still room on
those cards, consumers can still buy things. But if you don't pay off
the amount you spent on them, you are paying more for the product you
purchased than it actually cost. Sometimes people will be short of cash
and see something they want on sale, so they will make the purchase on
their credit card. As is often the case, people forget about this purchase
until their monthly bill statements comes in, and then they budget in
their credit card payments for next month. But by then it is too late,
interest has already been paid and that sale item now costs more than
it would have it you had waited.
If this is the case for you,
and you are interested in our debt relief of America campaign, click here.
The minimum payment plan
This is step 3. Creditors set up monthly bills will a minimum payment
plan. As long as you make the minimum monthly payment, your credit rating
will improve. Giving you more credit to buy more things, giving you more
you can see where this is going. Further, the more you pay
off of your card, the lower your monthly payments are. Creditors get paid
by the interest of your credit card purchases, and like any other business,
want to get as much for their services as possible. They want to extend
your payments for as long as they can. And watch out for sudden increases
of interest charges.
Many creditors offer introductory interests rates on their credit cars
to entice you to get one. Lately, it seem that there is more than ever
an aggressive urge to sign you up for as many credit cards as possible.
How many times a week do you receive phone calls or mail asking if you
would like a brand new credit card with a starting interest rate of between
6 to 9%? After six months or a year, or rather, once you accumulate a
good amount of debt, those interest rates leap to between 14 to even 21%!
If you make only the minimum payments on your credit card debt, the average
debt load per credit card of $2500 turns into $6000 by time you pay it
If you can avoid these steps, you should stay out of the trap..
If it is too late for you
to avoid the credit card debt trap, and you need to join our debt relief
of American campaign, click here for more information.
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