Most Americans live under the burden of credit card debt. It seems to be a way of life for us. For some it is totally manageable, for others it is overwhelming and suffocating. Many of us are struggling just to make the minimum monthly payments. We lay awake at night, tossing and turning wondering how we will ever get out from under all of this credit card debt. There is a way, and it is not bankruptcy!
The average credit card holder has around $10,000 or more balance on their cards. Did you know that if you continue to make just the minimum monthly payment it will take you 40 years to pay off that $10,000? Credit companies don't want you to know that! They also don't want you to know that they make an average of $43 billion dollars a year on the interest they are charging you.
The government has put some limits on how much interest they can charge you, but that is not enough. That is not enough to help you eliminate your debt. However, it is completely legal, ethical and possible to cut your debt by 50% and you need to know about it.
There are new laws that credit counselors can now use to your advantage. The Fair Debt Collections Practice Act, the Truth in Lending Act and the Fair Credit Reporting Act all allow information to be released at your request. This allows the credit counselors to actually eliminate as much as 50% of your debt!
It is time that you took a stand and said enough. You need a break and the credit companies need to realize that you are on to the interest trap! Filing bankruptcy can ruin your financially for many years, it is not a good solution to eliminating debt! Unfortunately a large percentage of bankruptcies occur as a direct result of credit card debt. We need to stop this and give people another alternative!
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