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Finance - Credit Card

Credit Card Will The Bubble Burst?

If you don’t know if another balloon, mass-growing in this country, is getting ready to explode. Revolving consumer credit card debt to grow each month, finally breaking the billion dollar mark for the first time last 900 in the month of June continues. This year, 39 billion of which the Federal Reserve reports Americans new credit card is stacked. We call a looming credit card crisis like a tsunami. You better close the gaps!

In August 2007, U.S. consumers for the month added 6.2 trillion dollars in new debt, they are airline tickets in the month of July to 5.6 billion $on. In general, everything except the mortgage, including, Americans in debt, owes $ 2.5 trillion dollars! The mortgage game is over, and now all that was easy money, the banks will milk for maximum growth and profit are the cards that the next big thing. Average interest rates as well as fees and penalties for the years is gradually decreasing. Last year, the banks 50 billion fees, interest and penalties & dollars made is$ 100 billion; these people aren’t your friends.

Previously the housing bubble burst, many people who have been squeezed by credit cards to stay alive. The capital money has dried up tap home, since not to change their way of life, in cases such as medical problems or lost jobs or continue to rely on charge cards to them why, how much additional debt John Q. Public will get to what there is no end in sight. At one point, the dam burst and we’re going to suppress a lot of people.

Far too experienced in recent years how many people, real estate, their temporary wealth, self-extracting, just vacation in Tuscany and a luxury wedding for luxury spending such as knows? How many people unsecured credit card your debt for their real estate transfer, if they miss a few payments just to risk it to foreclosure? Already thought that would continue to increase the value of an expensive home, and took out teaser rate mortgages, hoping to refinance after a few years with a profit, and pay off a mortgage that’s doubled now, and in no way about people who are stuck?how

Now that the game is over, these people turns their credit cards for their survival. By Teaser rate mortgages “hooked”, people no longer “real” mortgage is unable to pay the fee, they find it. Many mortgage will go into default, and the existing credit cards will be tracked. Some of these new cards that refers to the dam as well as continuous grace their mailbox using them like an ATM, are there to spoil them to the limit.

Credit missed mortgage payments won’t hurt them if they think they live in a dream world. In the three months to give, credit cards and mortgage payments is missing,+ 25% interest rates they took jack, when you see, and then, I’m sorry, “we’re screwed.” Of interest, most of your payment will be wasted and it may take 10 to 100 years to pay off your debt.

People’s cards does card companies to stay updated about everything I know, and meet the cash needs of the people. The requirements for getting a credit card is fed according to a survey, the lowest in 10 years; if you have a pulse, if you can get a credit card. They do give credit for peoples pets.

Grace your mailbox with junk mail credit card harassment forklift driven semi truck on pallets to the post office they are removed. Actually I sent this mail, although less than at their peak in 2005, responding, and being accepted by the credit card companies, the percentage of people has steadily risen, and in fact has tripled since 2005.

Outside of all this expensive house is a result of the stock taking off. It was never sustainable, and at the summit I got 600 thousand dollars plus paying 1 / 4th the price of a new home that it wasn’t worth the 40 year old people I feel sorry for. Something had to give before a balloon House, and the average price exceeded the ability of the average person to get a larger receive you can continue to think it is only a matter of time, and that was it.

Now, who is taking a cash advance to live on credit cards people all day long, or I’m talking to pay their mortgage; that at some point you will end up.

Your credit card will be the next person to burst that bubble. If your credit card debt is out of control, you have to do something. In the process of debt payment, that will leave you in a position to get a new loan after you owe to your creditors to settle for less than what it is there are way for 3-4 years. If it is an option for you to see whether debt read our free report.

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