How Much Credit Card Debt Are YOU Really In?
Have you defaulted on your Credit Card? Or are you just worried about making the minimum monthly payment?
In the video below, I ask if you’ve been late or over the limit on any of your Cards in the last six months.
If you’ve missed or made a late payment in the past 6 Months, you’re most likely in “Credit Card Default”.
Watch the Video below and If you’re in Default on any of your cards, feel free to read the rest of this post for information about how to get out.
A Default Rate is the mother of all high interest rates.
The Default Rate is a Penalty Rate (APR). Once you are in Default, consider yourself in the “Default Dungeon. To get out of Default you’ll have to pay as much as 32.24% for six (6) months before they let you out.
The average Default Rate hovers around 29.99%.
Once there is a default rate placed on your credit card, you are vulnerable to the Universal Default Rate.
Save More with the CREDIT CARD MEDIC Video Course: 866-576-4996
Universal Default Rates:
Universal Default is when one company raises your credit card interest rates based on high interest rates, or a late payment on any of your account’s reported to the Big Three Credit Bureaus [Code name: Big 3CB's]. Universal Default is unfair but legal.
Default cost a painful amount of money. For example, a small $1,000 loan at the average default rate of 29.99%, will cost you nearly $15,000 back. Most of the payback will be interest.
There are ways to get out of Credit Card Default much faster than 6 to 12 months. You’ll find them in the Credit Card Medic Debt Reduction Video Course. Credit Card Medic teaches you the following:
1. Step-by-step instructions on how to negotiate with your Credit Card Companies to lower your Credit Card Debt (for yourself). You will be trained in the art of skillful Credit Card Debt Negotiation.
2. How to properly attempt a Balance Transfer without hurting your Credit Score in the long-run.
3. The Secret “Key-Words” used by Professional Credit Card Debt Negotiators, Credit Counselors, and Debt Consolidators. These words will show you how to save YOURSELF thousands of dollars in Credit Card Debt.
Bonus Debt Reduction Software! Call: 866-576-4996
4. Professional Debt Consolidation and Reduction Software. You’ll own the same Software used by Professional Debt Consolidators and Credit Counselors. It’s the same software used by DEBT WARRIORS as well.
5. Most importantly, you’ll learn the utlra-secret yet totally safe ways to get your Credit Card Companies to reduce your debt most times, even when they’ve said “NO” before.
Call today to order your CREDIT CARD MEDIC Video Course [with BONUS easy to use Debt Management Software].
The DEBT WARRIORS HELP-LINE: 866-576-4996
What difference does it make if you default on your credit cards once you get behind? We have had to use our credit cards to live on once we lost our jobs and our home. Let the banks take the hit and try to collect. There is no reason to pay your bills when you are struggling. Protect yourself and your family. Credit scores are being ruined just by lenders reducing your home equity loan or credit card limits. You will pay for something you did not ask for. It is time to screw the banks the way they screwed you!
SCREW THE CREDIT CARD COMPANYS!!! WHY MAKE LITTLE PAYMENTS WHEN YOU KNOW DAMN WELL YOU WONT EVER GET OUT OF THAT DEBT! I WAS MAKING 500$ PAYMENTS AND THAT WAS THE MINIMUM PAYMENT AND I WASNT GETTING ANYWHERE!! TAKE THE HIT FOR 7 YEARS!! YOU WONT BEABLE TO GET ANOTHER CREDIT CARD, BUT WHO CARES! SAVE YOUR MONEY, LEARN FROM YOUR MISTAKES, ALL THE MONEY YOU SEND THEM, JUST THINK YOU CAN SAVE IT AND INVEST IT!!! SO 7 YEARS COMES AROUND YOU HAVE A CLEAN SHEET!! AND YOU WILL HAVE ALL THAT MONEY YOU SAVED INSTEAD OF TRYING TO GET OUT OF DEBT!!
I completely agree with Jack. In these economic times, if you find yourself in a situation where you cannot remain current and have to make a choice between paying your credit card bills or your mortgage/rent, you should just let the credit cards go. You will have the opportunity to settle the accounts down the road for pennies on the dollar.
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[...] At DebtWarriors there is also a great short video that is part of a course called “Credit Card Medic”, “Debt Management: How To Handle Default On Credit Card [Video]” [...]