Credit Cards
Mar 21st, 2007 by complex001
Credit Cards today are the bane of people’s lives. The number of individuals paying large proportions of their daily income into the bottomless pit that is their credit card increases daily. With the interest rates being mostly significantly in excess of 20% what was once a convenient source of short term credit becomes a long term spiralling debt as minimum payments do little to limit the debt.
To escape this debt spiral many are turning to bankruptcy as record levels of bankrupt’s evidence.
Debt counsellors provide one way out with many showing ways to enter into negotiation with the card owners. A lesser route is often to utilise unused equity in a property to provide a release. However despite these solutions the ultimate defence is discipline a trait that unfortunately appears to have slipped this generation by.