American Debt Girl - Credit Card Debt Elimination

Credit Card Debt Elimination

News on the Credit Card Debt Front from Channel 7's Evening Report

In an effort to get people out of debt sooner, some credit card companies announced today that they are nearly doubling the amount of their required monthly minimums on unpaid balances. Most currently charge 2 or 2 1/2% of the outstanding balance as the required minimum, plus finance charges. Some consumers see this as good news because they will be getting out of debt sooner. But for others who are struggling to make ends meet as it is, this news is devastating.

Our debt elimination reporter, Nancy Newman, stopped some people on the streets downtown to get their reaction to this news.

"Ma'am? (The person she stopped was American Debt Girl.) Did you hear about credit card companies raising their required monthly minimum amounts?"

"No, but I'm not surprised," American Debt Girl said. "I can see where these debt elimination services might help some, but most people who have credit card debt are barely making ends meet as it is. I guess this just means more people will be looking for credit card debt elimination."

"Credit card debt elimination--hmmm....what exactly is that?"

"Well, credit card debt elimination is really an all-encompassing term. It can be one of many different programs designed to help people get rid of their credit card debt in five years or less. For example, a credit card debt consolidation program gets your balances and interest rates reduced, then it combines the new, lower balances into one so you only have one monthly payment that's more affordable than the combined monthly payments you were making before."

"Wow. That's a lot of information. What other kinds of credit card debt elimination programs are there? And are these legal debt elimination programs?"

"They're totally legal! There are debt consolidation loans, debt consolidation mortgages, student loan debt consolidation and debt settlement. There's also Christian credit card debt elimination, bad credit credit card debt elimination...."

"I'm sorry miss, we're out of time. But there you have it. Help is available. Quickly miss, where can people get this help?"

"A debt management company."

"This is Nancy Newman reporting live from 5th Avenue. Back to you, Bill."

By this time, Bill had already gone home, he has a pretty good job and no family, so he wasn't really all that interested. Wouldn't that be nice? Not to have to pay any attention to all of this? Well, have it your way with the help of the debt elimination programs that are yours for the taking.

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