Do You Know?

Do you know all the reasons that credit card companies can use as excuses to raise your rate of interest to above 20%, sometimes all the way to 30% or more? Better read your fine print.

You made just the minimum payment on one card 3 months in a row? Sorry - get ready for your rate increase - from everybody.

You were 2-3 days late? Sorry - open your wallet again.

There's more - get out your cardholder agreement.

Get Off Our Campuses!

Speaking from personal experience:

What "financial professional" in their right mind would extend credit to someone who: 1) has no credit history, 2) is a full-time student and has no job and no earnings, 3) was under 21 years of age, and 4) has no parental approval for the contract?

America's credit card companies think they have more rights than parents, and parents' teachings.

Do your jobs professionally and stay away from our kids. If we want them to have more than $50.00 a week, we'll do it ourselves.

Spiritual Basis

Do a search on the words "Bible, Debt" and you will find that Jesus made several references to debt, how it should be managed and when it should be forgiven. In fact, Jesus suggested several times, in several ways, that debt should be forgiven on a 7-year schedule.

Debt grantors obviously have responsibilities that should be taken serious when extending credit. In fact, that is their job.

Jesus was very clear though: due to the sufferings mentally, physically, and in love that debt can create, it should be forgiven.

We used to allow bankruptcy in this country with a 7-year punishment schedule. Many things were changed in the recent new bankruptcy legislation, including a new 10-year punishment schedule, bankruptcy is now much harder to be approved for, as well as new rules in favor of the credit card companies allowing them essentially to charge rates that go as high as 30% compounded.

Bankruptcy should now be avoided at all costs. And, there are better approaches to avoid a life of servitude to the credit card companies.

If You are in Debt, You are not Alone!

The average family has 6 credit cards and over $8,800 in credit card debt. In total, Americans have over $3 trillion ($3,000,000,000) in debt on their cards. That does not count their other debt for mortgages, cars, etc. Debt problems can lead to anxiety and even depression. Debt can drive you to despair. Debt can lead to family problems, divorce, displaced children, permanently altered relationships and worse. It can lead to even worse decision making, such as a rush to bankruptcy or refinancing a home to exchange unsecured debt to secured debt that will take 15 to 30 years to pay back and jeopardize your most important asset, your home. There are much better answers.

Unconventional Thinking

The battle for your money is still on. Yes, everyone wants your money and it is up to you to understand the game and protect yourself and your family. This requires that you not only remember the financial rules learned in your past, but be willing to learn new rules as well.

Be willing to "think outside the box." Be willing to listen openly to new ideas and tools, if you seriously want to change your future. You cannot do everything the way your father and mother did it or even the way you personally did it 10 or 20 years ago.

America's middle class is shrinking and the lower class is also becoming worse off. For the upper class and large institutions, we must ask, "When is enough enough?

America is still the land of opportunity, but only if you are willing to learn and stay ahead of the game and the gameplayers.