American consumers have been poorly informed and even slightly deceived by their creditors that comfort us and tell us it is okay to keep continuously charging ourselves into poverty on our credit cards.
Are you aware of the fact that there is no reason to go into debt arbitration and that you can erase up to 50% of your credit card debt? This is information for those who in are in the know and that credit card companies try to keep from you because they are content with you paying your minimum payment each month for as long as you can.
Did you know that the average American family has a balance of at least $10,000 and this can bring $40,000 in interest and may take you over 20 years if you are paying the lowest amount required by your financial institution each month? This brings in the reality that any charge you make this month could attach itself to your credit report until you're forced to see a credit lawyer.
So if you are in debt and you have a feeling there's no way out, there is no reason to spend time online looking for a debt collection attorney.
Times in the United States are changing and the United States government is now in favor of all those who have credit cards being debt free and is allowing information to be given to those who cannot afford their credit card payments which may help you cut back on their debt load by fifty percent.
The bulk of all bankruptcies are a direct result of past due balance of credit-card companies, and you can prevent this happening by being properly informed.
The American consumer who is properly informed can erase 50% of past-due statements.