The credit industry has prospered from an extreme where Americans “have to” get credit cards and make charges they can no longer afford due to the job situation in America to a dramatic move to erase their debts if they have more than $10,000.00.
Here are some surprising facts about credit cards that may surprise you and why we now need help online with credit card debt.
1. Fees associated with our creditors have increased over 140% in the last three years.
2. There are 2.2 million swipes every hour in the US alone!
3. Even more shocking is the fact that our consumer debt now exceeds the debt of the Nation. This shows that the United States is truly indebted to our creditors.
4. 80% of all divorces are now caused by some type of debt.
5. In the early 90’s the FTC employed 2 attorneys to handle these bad debts, now there are over 120 attorneys and legal staff handling these issues.
6. In 2005, more than 20 States went to fight against banks that use “unfair practices”.
After reading this, we can see why more and more Americans are seeking help online for credit card debt.
What is this online debt help and does it help Americans?
An online debt relief company is a company that can help you negotiate with your creditors or another collection agency. It is very important that if your debt has been turned over to a collection agency, you understand your rights as a consumer and do not allow yourself to be taken advantage of.
They can help you understand the collection laws that have been put in place to protect you. As an example, the FTC states that you can send your collection agency a “cease and desist” letter, which will prevent your collection agency from contacting you, until they decide to take further action. This simply means that they cannot hassle or harass you. This is just one example of how online credit card debt help can give you the right tools to get out of debt and protect yourself.
