To pay off credit card debt can be a reality and not just a dream!
Some people like President Obama and some don’t. However the fact of the matter is that president Obama has helped to protect Americans from the card companies, their malpractice and misleading ways. This legislation was signed back on MAY, 2009. Therefore consumers should be familiar with this Act and what it means, but a lot of consumers are not familiar with it.
This Act could help anyone struggling with paying off credit card debt, young people looking to build a high credit score, possibly someone who just graduated a debt relief program or even the average card holder.
Companies like Discover, American Express, Chase, Citibank, HSBC, Bank of America, and Capital One are all affected by this Act. These companies are now required to work with their card holders to help them fairly and with paying off credit cards, not treating them unfairly.
Rather than card companies helping Americans to pay off credit cards, their goal is aimed towards keeping people paying on debt forever.
Their goal is also to keep Americans paying as much interest as possible.
People sometimes have a hardship, income reduction, medical conditions, divorce and many other examples of a hardship situation where it becomes nearly impossible for them to ever pay off credit card debt. It makes it even harder when the loan companies raise a person’s monthly payment and interest rates for no apparent reason.
Why do banks want to charge high interest, making it near impossible for consumers to pay off credit card debt?
The obvious answer is, “to make more money!”
This is an Act that was passed to protect consumers and help them with paying off credit card debt.
- If you are currently on a debt settlement program, realize that after graduating, getting a new loan or card for the purpose of building your credit score is a smart choice and you will be protected under this Act.
- If you are young, have no debt and are looking to build a high FICO SCORE, this act will protect you from the card companies taking advantage of you.
- If you are contemplating debt settlement to pay off unsecured debt, but are afraid that you may never be able to rebuild your credit score again, realize that getting a new credit card after graduating the program will allow you to raise your credit score back up if used responsibly.
- If you are just an average consumer that has a few credit cards with low balances, this act will protect you too! Don’t let your balances go above 30% of what the limit is and you will not only raise your credit score, but you will also be able to pay off your credit cards much easier if a hardship ever comes up.
Thank you President Obama for the video! Anyone who has maxed out credit cards or high unsecured debt and a hardship, can contact Golden Financial Services for a FREE debt evaluation to see if we can help you to pay off credit card debt. The CALL IS FREE! Call 1-866-376-9846
Golden Financial Services has been recognized as one of the best debt settlement companies in America today!
Watch the video of President Obama talking about the legislation that was signed to remind consumers of how the bill could help YOU with paying off credit card debt!