Credit Card Companies came before Senate subcommittee hearing to show us that they are accountable to us for their practices which have resulted in massive credit card debt to Americans. Are you feeling the relief yet of your credit card debt? It may be that this chest beating on the part of the Credit Card Industry CEO is all we will get. After all they know that if they let some time pass they can get back to business as usual....which is to make it easier to run up Credit Card Debt.
More on the subject:
Credit-card practices come under scrutiny website link.
By Eileen Ambrose | Sun Reporter
It's amazing what a little congressional attention can do.
Even before the recent Senate subcommittee hearing that explored credit-card industry behavior, two major card issuers announced they were abandoning practices long criticized by consumer advocates.
The Federal Reserve announced that as of June 2006, Americans were more than $810 billion in a “pandemic of revolving debt”. This does not include mortgage loans, student loans, autos, or recreational vehicles. Credit Card Debt alone leaped to $1.8 trillion in 2005 from 69 billion in 1980. Given the new law, filing for personal bankruptcy is much more extensive, time consuming, stringent---and expensive!
The unregulated large financial institutions want own your sole and are executing more and more ways to keep you spiraling into debt with outrageous late fees, penalties and doubling your minimum payment to name only a few of their tactics. But you can dig yourself out of “Credit Card Hell” with the help and guidance you will find at
Credit Card Rest In Peace. This is one call you will be glad you made and will keep from drowning in the deep of “so-called” financial planners new breed of “Debt Solution Scam Artists” that have sprung into place. WE have a solid track record that has saved over 8,000 American families from paying over $150 million in credit card debt.
See my
Consumers Eliminate Credit Card Debt website link.
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