Creditopics.com

Even if your credit cards are maxed out and you have a huge mortgage to pay off, you can still get rid of all your debt in about five to seven years - and begin rapid wealth-building - without sacrificing the things that matter most to you!

2 Responses

1. trucknut Says:
   August 13th, 2008 at 7:52 am 1

   Yes,because it lessens the amount of money you would have for future purchases.

2. Thin Kaboudit Says:
   August 16th, 2008 at 9:28 am 2

   Actually, high credit interest rates USUALLY help fend off recession, if you think about it: in a free market, the interest rate you qualify for depends on how well you have handled loans (which is all a credit card is!) in the past. The better job you have done, the lower rate you qualify for.

   Consequently, people who are lousy at handling money typically end up with prohibitively high rates, whereas those who “oil the wheels of commerce” with their better money skills will get the lowest rates, encouraging them to keep on doing whatever they are doing.

   When government gets involved in the personal debt industry(other than to prevent the stupid from fraud), good things rarely happen…

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