Consumers should be aware of their rights and understand the Card Act that Obama passed.
Can the Card Act help you? Consumers will never know if they don't learn what the Act includes.
Our overall economy has been affected by high debt. Credit Card Debt Relief is dreadfully needed.
Presently as of 2102 more than 10% of credit card accounts in the United States are in a delinquent status.
Too many people are on the urge of losing their home to foreclosure because they are overwhelmed with unsecured debt. They are immediately pressured into bankruptcy, not understanding all of their other options.
In many situations the Card Act can help.
Are creditors charging you unfair interest?
Are creditors charging you unfair fees?
Have creditors hiked up your minimum payments to where you have fallen behind?
This Act was passed several years ago and all consumers should be familiar with it, but too many consumers are not.
Here are a few examples of what this Act includes:
♦ This Card Act requires a lender to give a 45 day notice before increasing a person’s interest rate;
♦ Card companies can no longer charge unfair and hidden fees.
Remember, not everyone follows the rules. If a creditor breaks the rules, consumers should know what to look for.
The law helped, but did not fix the debt crisis. Banks of course combated against this law by hiking up interest rates and fees in other areas.
Here is a video for consumers to watch on the Card Act and it’s very easy to understand. http://nomorecreditcards.com/
President Obama definitely worked hard to improve the rate of delinquency on credit card debt, with the goal of improving our economy. This leads critics to believe that more regulation will come into play.
Consumers can also utilize debt relief programs to assist them financially if their situation has spiraled to far out of control.
Debt relief programs include debt settlement and consumer credit counseling. As always only speak to a debt settlement company that is highly rated with the BBB. If consumers are seeking consumer credit counseling, they should only speak with non profit companies.
The Federal Trade Commission passed regulation where debt relief companies must be compliant with the law. This helps to regulate the industry and keep a lot of the bad apples out.
Consumers can learn about all credit card relief programs currently available in the United States here. http://nomorecreditcards.com/
Golden Financial Services is one of the oldest and most experienced debt settlement companies on the market. Are you struggling with Credit Card Debt? Relief is here! http://nomorecreditcards.com