Posted on
September 22, 2009
at
4:41 am
Hello, I need help on the topic credit card debt crisis. Can you please discuss it? Thank you!
Posted on
September 22, 2009
at
4:54 am
Credit card debt crisis...mhm, people can't pay them anymore. The reasons maybe are-they are carrying multiple cards -and did not expect that the economy is going to go down like this. -they lost their jobs
Posted on
September 22, 2009
at
4:56 am
Credit card debt crisis - whose fault is it really?The unscrupulous creditors and their magical interest rates formula.
Posted on
September 22, 2009
at
4:59 am
Credit card debt crisis - whose fault is it really?I disagree, it's the government. Always the government and their lack of regulations against these unfair practices. The government is supposed to be for the people...but it favors businesses more. But at least that law - passed by the Obama administration this year addressed this issue a bit.
Posted on
September 22, 2009
at
5:02 am
It's called the Credit Card Accountability, Responsibility and Disclosure Act of 2009 - effective Feb. 2010?-- and in it are credit card companies giving consumers 45 days before increasing the interest rates--the consumer's payment being applied (first) to the highest interest rate balance.Do you think though that it's enough to solve the credit card debt crisis?
Posted on
September 23, 2009
at
5:00 am
No because that is not the root cause of the credit card debt crisis.
Posted on
September 23, 2009
at
5:01 am
What can help the consumers solve their credit card debt crisis?
Posted on
September 23, 2009
at
5:05 am
Credit card debt crisis help may come in the form of professional credit counseling or debt settlement.For consumers that do not want to default on their payments, for those whose goal is to just manage their payments - they can do credit counseling. That is if their debt amount is below $10,000 and would like to do something about the high interest rates.Debt settlement is for debts amounting to more than $10,000 and for accounts that have already defaulted. This program can cut the balance to more or less half.
Posted on
September 28, 2009
at
7:10 am
what is the government's efforts in reference to the credit card crisis?
Posted on
September 28, 2009
at
11:00 am
The governments efforts to help you and your credit card debt will never be enough to actually help you. Yes, the Credit Card Accountability, Responsibility and Disclosure Act is of some minor help, but it will not LOWER your debt or help you pay it off. It only helps your future debt. Well, YOU can help your own future debt. The govenment does not need to step in. Education is the key here, people. Education. If you are above your head in credit card debt there are legitimate companies that can help you. Do your research, get free consultations, and be vigilant. You are in charge of you own credit future. Get educated, get real, and get help if you need it.
