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Did you hear that President Barack Obama signed the ‘CARD ACT’ last Friday?
But the President signing this important Legislation is only a Battle won. The “War on Debt” rages on! Now in order to be free from Debt we must start admitting that Debt is not all the Consumers or the Creditors fault.
We must embrace the facts that for many sad reasons, U.S. Laws have been passed to help distressed Americans find fairness in Credit Transactions. We must understand that the Credit Card Act of 2009 aims to even the Battlefield of Debt.
It is not time to pretend that the War on Debt is won. The mission of the Card Act is to make Credit Card Transactions more fair for the Consumer and the Creditor. With that said below are a few things you should know about the new Law.
3 Worrisome Truths About The “CARD ACT”
- The Credit Card Act of 2009 is not a quick fix. In fact the Provisions in the “(Card) Act of 2009″ will not go into effect for nine months. This new Law provides a way forward long-term.
- As Credit Card Holders we still have to be on guard. You should know that for every brave new Law signed to protect us is an equal duty for us all (as American Citizens) to know about those Laws. Don’t get me wrong, as Debt Warriors we are excited that President Obama signed the CARD ACT, but we see many more Credit Battles straight ahead. We as American Citizens cannot allow our new rights to go ignored.
We must continue to stay on duty, be vigilant and take appropriate action when we have to. We still have monitor our accounts and sound the alarm when our Rights as Credit Card Holders are violated.
- The Credit Card Act won’t lower ‘Outstanding Credit Card Balances’. This is the one that will trouble you if you’re a Credit Card Holder with an outstanding Balance. This new Law won’t magically make your Credit Card debt dissolve. Please be clear? The Credit Card Companies are not going to give up your money without a fight!
The good news is that if you are willing enough to spend about 20 minutes watching our Credit Card Medic™ Video Course, you’ll learn the secrets to lowering your Credit Card Debt (for yourself) and saving thousands of dollars. Debt Warriors have produced a step-by-step video Course that puts the power of Credit Card Debt Negotiation in your hands.
If you’ve ever found yourself fearful or intimidated about the amount of Credit Card Debt you carry and you’d like to do something about it please consider the Credit Card Medic™ Video Course? There is no risk in learning so feel free to discover more about Credit Card Medic™.
[...] 3 Worrisome Truths About the Credit Card Act of 2009 [...]