July 9, 2009
If you start hearing a deafening sucking sound…
Credit Card Lock-Out!
Hold on to your wallets- your credit cards to be exact! Watch out for rising interest rates coming to your card soon! You think it’s hard to reduce your credit card debt now, just wait ’till your APR reaches as much as 20% or more! Not only that, you will notice many credit card companies are raising their FEES as well. You may ask, “What about Obama’s credit card legislation!?” Looks like borrowers will be waiting till February 2011 for that legislation to take effect. Even then, there is nothing in the bill that caps the interest rates the credit card companies can make. If you are tired of fighting the uphill, loosing battle of minum monthly payments on your mountain of credit card debt, you might consider the option of Debt Settlement. Unlike debt consolidation, debt settlement lowers the amount of debt you owe, typically by about 50%. If you need more information on the subject, (and I always recommend making an informed decision), you can email me at ccarriger@sbcglobal.net. Until tomorrow, “Hold on to your wallets!”
