Credit Card Relief - 2009

You Are Not Alone!

Americans are 1.5 trillion dollars in debt to credit card companies.  And a lot of this monstrous debt came about by means of teaser introductory interest rates, things like zero percent for six months or other very sophisticated marketing methods on the part of the card issuers.

The other tool they use to get you deeper in to debt is to continually raise your credit limit.  Remember those days when calls from credit card companies were not collection calls but calls offering you free, or nearly free, transfers from a higher interest rate card to their super low introductory special rate because you were such a good customer.

Remember shopping in department stores or big box discount stores when you got an instant ten percent off just by showing them your other credit cards and picking up a new credit card at 19 or 20%.  And so the "seduction" process worked.  The credit card companies kept offering more and more chances to use their cards and get you into debt.  Balance transfers were essentially do it yourself very expensive debt consolidation loans. 

The problem became even worse when the banks used home equity credit loans as a way to pay off credit card debt.  All of a sudden you were trading unsecured debt for secured debt and your home ownership was on the line and your financial security became severely at risk.

But for many Americans this wasn't the end of the problem because they continued to use their credit cards.  The cards got maxed out because of emergency use of credit cards to supplement the income of the family or to pay for the family vacation.  We all had different reasons and sadly a lot of us ended up maxed out again.  But this time there was no place to turn.  You already used your home equity, your credit limits were either all used or over and you started going late on some if not all of your credit cards.  Now the calls from the credit card companies were collection calls instead of sales calls.  Your credit score was going rapidly in the tank.

What do you do?  Get professional help.  The answer should not be bankruptcy, that is your last alternative.   The worst thing you can do is nothing because as you go late, your credit score sinks and, those once friendly banks are now raising your interest rates from 9% to 30%.

Stop the madness today.  Sign up for your free no obligation consultation.  This is not a sales pitch, it is a lifeline.