Greetings my dear readers, the issue that motivates me to write is that lately I’ve noticed how many of my friends and acquaintances tell me what at first seemed a profit became a financial nightmare: credit cards. Many of us woke up one day with the arrival of an envelope whose contents is a credit card inviting us to enjoy the services offered. From our acceptance we fall into an endless temptations of acquiring goods and services that we never thought we would be able to acquire. We ended up with a debt that while our revenue will allow us to meet the payments on the terms that the card issuer requires everything looks perfect and wonderful, we ask for an expansion of our credit limit to increase our levels of consumption and ratify our solvency of payment for vacuuming every day more. If all this happened let me say with respect that they deserve because they fell into the great trap as I fell also 5 years ago. When that happened and check my account statements, looking for the formula to pay very high monthly fees I realized that had something to correct.

Got fired me from my work by reducing staff, cai in arrears or delay in payments and the banks do not me perdonanaron to impose such drastic measures were difficult to meet. At the end I managed, with much sacrifice, cancel my debt but I realized account of everything that gave me credit cancel it in three times higher than its value amounts by soaring interest rates charged by the Bank. The credit more costly are those of credit cards, no instrument charge such high interest and their rationale is that the Bank does not have any good or warranty that supports your consumptions. That is the real reason why banks are looking for that you consume as much as you can to then charge you the more high rates for their benefit. For even more opinions, read materials from Phil Vasan.

Advantages And Disadvantages Of Card Debt

Review the advantages and disadvantages of the establishment of the credit card debt when you can afford no more minimum fees on their credit cards and balances, interest rate and various fees make it almost impossible to make a dent calls on how get free credit report. The establishment of debt credit card companies work with creditors to negotiate the reimbursement plan, including interest rate, quantity and due dates. The establishment of debt company represents you and set reasonable repayment options, often with the around 50 percent of the original debt. Generally, interest rates are lowered and refund schedule also relaxes. The advantage of using a company of the establishment of debt credit card is that you have someone work on behalf his with the credit card companies.

They are experts in existing debt reduction and negotiation of the finer points of your account in your favor. Filed under: Facebook. While you could come into contact with each of the companies of the credit yourself, card a professional group free credit report will have probably best results. Credit card companies are more likely to deal with a company’s credit card for the establishment of debt that worrying about all the legal issues surrounding a bankruptcy. Because the amount that you have to compensate is usually significantly less than the original account and also reduces its interest rate, you can handle the best account and was freely faster credit card debt. Because you will pay ultimately off much less than what is due, the establishment of the credit card debt is a quick way to eliminate credit card debt. The disadvantage of using services of the establishment of debt credit card is that good companies for the establishment of debt load for their services clean my credit. Sometimes the cost can be as high as 10 or 15 per cent of the total due amount.

Another disadvantage to using the establishment of credit card debt is your credit account will suffer. If your credit account is good enough that you may qualify for a debt consolidation loan, that’s a better way to go to preserve your account. However, if you do not qualify for this type of loan, the establishment of credit card debt will allow you to pay off your debt quickly even though your account will take a blow. Original author and source of the article

Common Errors

Here detail you the errors more common is each 1 credit cards. Use too many cards. Most of the times a credit card is sufficient to meet the needs of a normal person. More cards means more impulse buying and more spending and debt. Multiple credit cards also give the sensation that has money and making missing necessarily spend. 2 Pass through high launching interest rates. Launch interest rates are usually very low. People often get caught with these rates so low, without knowing when it ends this launch period and how much will the interests once not completed such period.

3. Do not read the small print of contracts. This is a very common mistake. It is extremely important to read the small print, applied commissions, interest rates, etc. 4 promotion period. Pay only the minimum payment. This is another very common mistake. Credit cards should be used only in case of emergencies.

People must understand that the money on the card is a credit that must be returned and that does not constitute any regular additional income. With minimum payments, the problem is compounded, because that is very difficult to lose the remaining balance. 5 Pay later: with cards you must always pay on time, otherwise they are loaded you abusive commissions. All that without taking into account possible annotations are delinquent records.