Debt and the trap that we all fall in
We have all at one time or another received credit card offers in the mail for zero percent interest and limits that we think are great. So we sign up for them and then something happens; our hours are cut at work, our kid gets sick, or the car breaks down and we can not make the monthly payment. With the missed, or just a late payment, that zero percent that we had on that card is now at 29.9% interest, and the monthly payment went from $25 a month to $150 a month. And the real kicker to this is that since you were late or missed one payment on one card the rest of your cards can follow their lead and raise their interest rates making it impossible to pay the minimum monthly payment. Because the minimums went from being manageable to being a choice between paying the credit card company or buying groceries. of course everyone is going to buy groceries for their family. And then the credit card company really gets to be a pain and starts calling at all hours of the day and night and telling you that they are going to sue you and get a Judgement, or garnishment. Truth is there is hope for those of us in that situation. There are companies such as U.S. Debt Resolve that is staffed with honest and sincere People that have a proven program that will get you out of debt without totally destroying your credit.
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