www.FreeDebtExam.com http The power of compound interest. This is why it’s so hard to get out of credit card debt. If you want free help, take the Free Debt Exam at www.FreeDebtExam.com
Why It’s Hard To Get Out Of Credit Card Debt
April 24, 2010 By 39 Comments
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Aaron is right we all need to reduce or eliminate our credit card debt. His debt exam is a great idea to see where you’re at financially. If you’re comparison shopping for debt settlement companies check out the link in my profile.
Good info. For more information check out our credit card cartoons.
RIDICULO!
Gov’t Data is a lie and a fraud in cahoots with the Blankfein’s of
WallStreet, manipulating the “American free market”, credit swaps
high frequency trading, flash orders, naked short selling, cdo’s
Goldman and Obama are in bed, Summers, Benanke, Geitner are frauds
Jobs exported your labor de-valued to Zero to screw you into debt
Walk away from your CC cards and (underwater) mortgages
FICO scores are a scam to enslave you and keep you in debt
Get out off paper.Don’t be sheeple. Fight back!
Credit Cards are worse than loan sharks I would rather deal with the mafia.
The other problem here I think is lack of savings. When you are single, you can basically keep all of your money so even with a fairly low paying job you can probably make ends meet and have some left over.
When you choose to have a family, you are taking on a large risk if some harm comes to them and you aren’t prepared to handle it.
you missed the whole point of the compounding interest yes you pay a mimimum of 1 percent on principal each month (assuming minimum payment) if you have a )% intrest it would take 100 months to pay off. Each month they add interest U then have to pay new interest on the last month interest hence the term compounding interest
stop buying stupid things on credit! If you cannot afford it, DON’T BUY IT!
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Sadly, it doesn’t take much to rack up 30K in debt. A friend’s son was hit by a drunk driver, she had to max her cards for medical bills & for living expense while at his bedside (out of state). These days people lose jobs w/o notice… jobs they’ve had for many years. There aren’t comparable jobs out there waiting for them. People trying to survive bad times run up large credit card debt.
It’s not just people who have no control over buying shoes or new tech toys.
This guy doesn’t know what he’s talking about. Legally, at least 1% of your monthly credit card payment has to go towards principle. So if you don’t use the card and just pay the minimum it will take you 100 months to pay off the balance regardless of the interest rate.
Thanks for posting the article, was certainly a great read!
That is why there should be a cap in intrest rates! 3% over prime fixed to the date you bought the item. When was the last time you got 3% on a saving account?
And because of that thinking is why banks needed a bail out good job!
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Creditors harassing you?
In fear of bankruptcy?
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Fast debt relief and have your life back in control in no time!
Visit ALPHA SETTLE Today!!!
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Go here:
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Spread it! Time is running out!
o and fyi if your takeing $30,000.00 cash out on your Credit card u need more help than this guy can give lol
there is one that that is true here combound intrest is charged but ONLY on cash with draws and foren exchange fees. thats all the rest of the intrest from your normal shoping is not this way its based on your totaly amount spent per billing cycle. witch means u only get one 29% charge on 30k vs getting 29% intrest charged to that 30k per day (compound intrest) just a quick fix but a nice point just the same gj for the most part
fuck them dont pay shit.
check this out…if you have mandated direct deposit by your job…1.go to tax collecting store (bank) take all the money out as soon as you get paid (every red cent). 2. put it in your pocket. 3. done 4. F a bank!…..land of the free? yeah, as long as you pay for it right.
I actually am debt free and have never owned a credit card…. by choice. Everyone thinks it’s a bad thing to not have credit.
Another thing that CC companies don’t want you to know is, your regular payment goes to your lowest interest rate firt. What I mean by this. Lets say you pay 18.69% on regular purchaces and you take out a cash advance at 33%. When you send in your payment, it’s automatically applied to the 18.69%. If you want to pay off the higher interest first you have to call up to get their “Special Payment” department address which is usually not at the same site as where you regularly send your payment
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
for awhile we took in the third roomie. but I don’t think you can do it on your own. maybe you can. I couldn’t.
Another thing that CC companies don’t want you to know is, your regular payment goes to your lowest interest rate firt. What I mean by this. Lets say you pay 18.69% on regular purchaces and you take out a cash advance at 33%. When you send in your payment, it’s automatically applied to the 18.69%. If you want to pay off the higher interest first you have to call up to get their “Special Payment” department address which is usually not at the same site as where you regularly send your payment
I actually am debt free and have never owned a credit card…. by choice. Everyone thinks it’s a bad thing to not have credit.
Another thing that CC companies don’t want you to know is, your regular payment goes to your lowest interest rate firt. What I mean by this. Lets say you pay 18.69% on regular purchaces and you take out a cash advance at 33%. When you send in your payment, it’s automatically applied to the 18.69%. If you want to pay off the higher interest first you have to call up to get their “Special Payment” department address which is usually not at the same site as where you regularly send your payment
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
for awhile we took in the third roomie. but I don’t think you can do it on your own. maybe you can. I couldn’t.
for awhile we took in the third roomie. but I don’t think you can do it on your own. maybe you can. I couldn’t.
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
@ Simon
I don’t think a card can build your credit. I have no card but I am working in a well known company as reputable position. You can make good credit and reputation without any kind of card dear.
sup wat is ur facebook page
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
shoot fun info man.