Learning all about credit card catastrophe avoidance can have amazing benefits for your life and finances! One of the biggest challenges for people to overcome when they first determine to start building wealth and putting income away for their future is a hulking mountain of charge card debt developed over several years. With balances of $10, 000 or $20, 000 or more, at 20% and 30% interest, they find themselves paying upwards of $500 monthly in interest expense alone, never making the balance of the charge card debt decrease, adding even more defeat and pain to the cycle. This anegative amortizationa as it's addressed - thatas when you start paying interest on the interest you already owed as you didnat make a big enough payment to cut the balance - will mostly be against the law due to recent regulations set in place over the last few years. This is precisely why you should pay off high interest charge card debt.Synopsis A lot of financial planners will tell you to use a HELOC, or home equity line of credit, to pay down high interest charge card debt. Dona#39;t do it. Stay Away Ia#39; m not a huge fan of this attack for one easy reason a if you do decide to utilizeanbsp;...
|Title||:||Avoiding Credit Card Disaster - How to Better Manage Your Credit!|
|Publisher||:||Lulu Press, Inc - 2014-04-21|