In the past 12 months, a majority of consumers that live in Tampa and surrounding areas are facing serious financial hardship. With companies closing offices and downsizing here in the Tampa area, it's no surprise that people are truly suffering financially. To make matters worse, the Holidays are approaching which makes life even more stressful. Due to recent downturns in the local economy, a lot of Tampa consumers leveraged credit cards and unsecured loans to get by. As balances increased, so did their APR's (annual percentage rates). Some have jumped as high as 29.99% with the majority at 14.99%.
As a country we carry approximately $2.7 trillion dollars in revolving debt balances. For those of you with a calculator that are pretty good at calculating interest APR you can clearly see how much money the Banks and credit card companies are making. Now don't get me wrong, there's plenty of blame to go around, but if you look at the bigger picture what you will find is that the creditors are taking advantage of the debtors (consumers). There's nothing wrong with charging interest on money that's borrowed, the problem here is that people are borrowing money on credit at 8.99% then being forced to pay 29.99 - 34.99% when they pay a few days late. This is known as abusive - predatory lending practices and more often than not participate in illegal double billing practices as well.
Market research will show that most consumer in Tampa and through out the country carry on average approximately $7 - 10k in credit card debt. For most people, they have a set budget for their monthly expenses, well when their creditors increase their interest rates on balances the payments sky rocket which then causes them to pay late and fall behind. Now factor in being recently laid off or let go due to downsizing and this becomes even worse. This seems to be a rapidly growing trend here in the Tampa area and nationwide. http://www.bulldozemydebt.com a local debt relief referral agency in Tampa provides free consultation to consumers that are having a hard time and falling behind on their payments.
They offer a broad array of Tampa debt elimination and debt help services which include Tampa debt negotiation, Tampa debt consolidation, Tampa debt relief, Tampa debt management, Tampa small business debt help, Tampa small business debt relief, Tampa small business debt elimination and Tampa debt settlement. The first step in determining what program is most suitable, is to first analyze the individual's financial budget and debt load. Once the financial analysis is complete, the Debt Counselor can then present options that are tailored specifically for their exact needs.
Tampa residents may contact http://www.bulldozemydebt.com via online or by phone at 1(800)590-4523 to schedule a confidential in person consultation.
