Posted:
#1
and are able to pay the down/off, do it tonite. Link
Lets say your limit is 7000, and you carry a balance of 3500. If your CC decides to lower your credit limit to 3000, that would leave you over the limit, and you could be hit with OTL fees. This shitstorm is gaining momentum, and consumer credit is gonna hit the fan to compound this mortgage shitfest(already had). Debtors have been compounding the problem on their own, as HELOC's were dropped/reduced drastically, the first place people turn to feed their addiction to wasting money is their plastic. and i'm normally slightly ahead of the curve with what i post on these housing/credit issues, so take it for wwhat it's worth, betterr to be prepared. OR, you can run them up, join the mortgage strrike, and hope that you get bailed out too 
.
. With LIBOR jumping thru the roof, and a google of ARM's set to reset Nov, n Dec, it's gonna get a lot worse quickly. Be prepared, and hopefully you will have a better chance at surviving The Great Depression of 2009 
0
I started a business 14yrs ago with $200K from CCs @ 8.9%
80% of all money spent in the American economy is 'credit'. AND, when used responsibly, with a fair interest rate, there's nothing wrong with them. However, the shift in wealth from cash to credit in the world could only bring us to where we are today. Did you know that when you go bankrupt, that there are(well there were) tons of lenders out there that prey on those that recently went bankrupt. They offer credit cards with 300 limits. They come with about 200 worth of activation/annual fees and often interest rates well into the 20's/30's. So, someone goes bankrupt for wwhatever reason, but normally not being able to handle credit, and immediatly are buried with an absurd debt. A credit card with a w300 limit, and a 200some dollar balance and a crazy interest rate
loan shark attack.
. 
Hot Forum Topics
