Are you struggling just to make those minimum monthly credit card payments? You are not alone! The average American has $10,000 in credit card debt today. If you are able to make the minimum monthly payments it will take 40 years to pay off $10,000 worth of credit card debt! That's right, 40 years! Now you know why your balance never seems to decrease!
Let's break that down even further. Suppose you went to the grocery store and decided to use your credit card to buy $100 worth of groceries. That's probably about a week's worth of food. Do you realize that it will actually take you 4 years to pay that $100 off by making only the minimum payment? That's right, 4 years to pay for 1 week's groceries! Shocking and outrageous isn't it?
Credit companies made more than $17 Billion Dollars last year on the interest they charge their card holders. They keep getting rich while we continue to struggle. The government has stepped in and put a limit on the amount of interest they can charge, but that won't help your current balance! But they have passed new laws that will help you now!
You no longer have to file bankruptcy to get relief from credit card debt! Bankruptcy will destroy your credit for years to come; it is not a viable option for anyone! Don't be fooled into thinking it is your only avenue for relief!
There are companies out there that are using the newly enacted laws to help you eliminate up to 50% of your credit card debt immediately! It's legal, ethical and for thousands a real chance to get control of their finances! You do have to do your homework and make sure the company you choose is legitimate! Unfortunately there are far too many unscrupulous people out there all too willing to run a scam and steal your money! Be aware and check with the better business bureau before deciding on any credit counselor!
By Sheri Baker Platinum Quality Author
ezinearticles.com
14 years ago
