Do You Have Far Too Much Credit Card Debt?

Have you spent all day wondering about how to pay your bills

? Do you have $10,000 of debt hanging over you? Are you facing foreclosure on your home, or bankruptcy, because you are in debt up to your eyeballs? Many Americans have over $10,000 in debt and it is causing many bankruptcies in the United States.

The American public on average will not be able to make their credit card bill payments this next year because of charges that they had made. Many people do not realize that these charges will stick with you for some time and eventually you were not able to afford your minimum payments.

Many missed payments on a credit card can bankrupt you, and lose you your house to foreclosure. Many senior citizens are losing their retirements to this phenomenon. This is a sad fact that is taking place in our country. But, there is something that you are able to do about this however.

Many creditors know that once you have a charge card you and begin charging you are hooked for good. Did you know that a $10,000 credit card balance could take you almost 40 years to pay off? This is a fact that many charge card companies do not what you know because it keeps them in business.

However, there is something the credit card companies and banks won't tell you, and that is that there are laws in place that limit the actions they can take. Information on these laws is readily available on the internet, and everyone with a credit card, or bank card, should be looking these up, and learning their rights.

Don't stop there, either. There are also debt consolidation companies, most non-profit, that can help you further reduce your debt, and restrict the greedy banks and creditors from ruining you financially. Think about your retirement, and think about your loved ones. Think about the money you could save with some simple research. Remember, there is no reason to stay in debt if you do not have to be.

by: Claris Livingston

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