We feel that we could safely assert that any American head of household trying vainly to juggle the responsibility of high interest revolving credit card debt totals – if the heads of household could not repay the complete credit card debt within five years under their current domestic budget’s latitude, at least – would be able to find a course of debt relief which could most practically be ad... (READ MORE)
For more than thirty years, the credit card debt bill for all Americans has gone in only one direction: up and up and up. Indeed, most commentators on economic conditions have warned that the financial strength of the United States will inevitably suffer as a result since other nations examine the solvency of our citizens as an indicator of the hea... (READ MORE)
As the video below explains, the second part of the new credit card legislation signed into law last year by President Obama goes into effect on February 22, 2010. There will be a new transparency and a full disclosure of what credit card holders can expect in terms of how long it will take to pay off their credit card balances if they continue to only make the minimum monthly payments.
In addition to the new transparency, new rules go into effect governing what credit card issuers can and cannot do. These include such things as: Credit card companies must give their account holders 45 days notice before raising rates and fees, a ban on rate hikes for the first year a cardholder's account, and new restrictions for people under the age of 21.
SHARE ARTICLE WITH:
COMPLETE THIS FORM TO RECEIVE A FREE DEBT SETTLEMENT EVALUATION!
By submitting, I certify that I am a US Resident over the age of 18, and I agree to the terms and conditions and privacy policy.
