September 2, 2010
The combined effects of the recent recession and the abundance of unsecured debt that Americans are now carrying have motivated millions to scramble for possible solutions to their financial problems. The recession has wreaked havoc throughout the jobs market, the housing market and the lending industry while the cost of essentials like food and energy have taken a steady rise. The run-up to the recession was characterized by easy credit and high levels of consumer spending, and the worst effects of this behavior are now being fully realized as many struggle just to make the minimum monthly payments on their excessively high interest rate accounts. With their resulting payoff prospects literally extending to decades, consumers need effective solutions to their debt predicaments.
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September 2, 2010
I have personally been trying to eliminate my Credit Card Debt for over a year now. I have about $7,000 on a few different credit cards. Not enough for a Debt Settlement Program or Debt Consolidation, but enough to make me uncomfortable with having it. The credit card debt isn’t costing me that much money but I know that about $1,000 of it is at a 15% interest rate which gets tacked on every month.
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