Why It’s Hard To Get Out Of Credit Card Debt
February 6, 2010 by derricke
Filed under Credit Card Debt
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
ThePeoplesLawSchool on Sat, 6th Feb 2010 5:03 pm
Good info. For more information check out our credit card cartoons.
heavyneptuno on Sat, 6th Feb 2010 5:03 pm
RIDICULO!
407buddy on Sat, 6th Feb 2010 5:03 pm
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!
theenforcer1977 on Sat, 6th Feb 2010 5:03 pm
Credit Cards are worse than loan sharks I would rather deal with the mafia.
sniperontheroof123 on Sat, 6th Feb 2010 5:03 pm
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.
RAWRimaTIGURRx on Sat, 6th Feb 2010 5:03 pm
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
jerricette on Sat, 6th Feb 2010 5:03 pm
stop buying stupid things on credit! If you cannot afford it, DON’T BUY IT!
LivingSuccess247 on Sat, 6th Feb 2010 5:03 pm
With the New Year creeping up on us faster than most of us would like, I cant think of a better way to start off the new year than learning how to pay off credit card debt.
Join the New Years Resolutions Extreme Makeover Telesummit today by clicking on my name above in blue (LivingSuccess247)
TVXQHistory on Sat, 6th Feb 2010 5:03 pm
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.
cg248 on Sat, 6th Feb 2010 5:03 pm
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.
Takeittogo1 on Sat, 6th Feb 2010 5:03 pm
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?
oaktownstomp on Sat, 6th Feb 2010 5:03 pm
And because of that thinking is why banks needed a bail out good job!
DWHold1 on Sat, 6th Feb 2010 5:03 pm
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DWHold1 on Sat, 6th Feb 2010 5:03 pm
Creditors harassing you?
In fear of bankruptcy?
ALPHA DEBT SETTLEMENT will get you the help you need.
Fast debt relief and have your life back in control in no time!
Visit ALPHA SETTLE Today!!!
MopDMTBARTL on Sat, 6th Feb 2010 5:03 pm
The Vatican-Pope-Jesuits-illuminati run the world. they have all the judges, attorneys, doctors, major corporations, etc. all in their back pocket. bought & paid for, etc. our country is no longer free -we live in tyranny! truth an obscure thing, Oppression & lie is the norm. Were all slaves- our masters, the elite, r at least 50 years ahead of us in knowledge, technology, info., secrets & r using all of it against us!
Go here:
truthknowledge. com
Spread it! Time is running out!
mortech100 on Sat, 6th Feb 2010 5:03 pm
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
mortech100 on Sat, 6th Feb 2010 5:03 pm
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
jcost2008 on Sat, 6th Feb 2010 5:03 pm
fuck them dont pay shit.
RILODICKSTEIN on Sat, 6th Feb 2010 5:03 pm
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.
intj123 on Sat, 6th Feb 2010 5:03 pm
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.
Demonyk1 on Sat, 6th Feb 2010 5:03 pm
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
fedtheend on Sat, 6th Feb 2010 5:03 pm
now I am taking out a secured card to rebuild my credit rating so I can get a decent job.
fedtheend on Sat, 6th Feb 2010 5:03 pm
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.
fedtheend on Sat, 6th Feb 2010 5:03 pm
I stopped paying my cards but then I had to find a roomate with good credit to get into a decent apt. then I saved money, he got off his cards, and now were both in a cash position so we can offer a cash advance to get into a decent apt.
kinkadekrew4 on Sat, 6th Feb 2010 5:03 pm
me 2 i typed in calculater hacks and this poped up lol