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Money That Kills

Credit card companies will go from trying to work with you, to threats asking “Do you want to go to jail?”

These are what you would call scare tactics. This reminds me of the movie “Fight Club” starring Brad Pitt who was the alter ego of another character. He had a plan and the fight club was just a cover up to destroy the credit card companies to erase every debt that was owed. To this man, it was all about the numbers and credit cards have numbers.

The economy is not bad. Media has put it in our heads that the economy is bad. We let them scare us into poverty. The only way we can take back that power is first, you must know your rights when it comes to collection agencies, their rules and your state rules. There has to be a better way to get off this plastic playground without getting deeper and deeper in debt.

The only way that seems to be, is to buy your way off the playground.

Credit card companies try to make each credit card better than their opponents by making promises to you on their side.  And when worse comes to worse, they want to help you get out of the jam you put yourself in.

How powerful is the plastic? The plastic is so powerful that it can get you a trip to the islands, or depending on your credit score, that plastic can get you a house. The house may not be what you want for the first time but, at least it gets a roof over your head.  There is a limit to your spending ability which goes back to having a decent credit score. When the funds run out and you are unable to keep up with your payments, the creditors are on you like hound dogs.

In order to keep abreast of the situation, check your credit score and credit report to see if any information has been added or changed. Some credit card companies give you the opportunity to lower your rates in order that you would be able to make the payments.

Other companies will give you some time to make the payments if a death or accident occurs within the family.

Call the company to see if you could work out another payment plan. Or however many cards you have that gives you the best services, rates, and offers, transfer your balances as much as you can on that card and then close your other accounts.

Some consolidation companies are good, but it’s truly best to do your homework first because using consolidating companies would possibly put you in more debt. If you decide to use consolidation companies, use what is best for you. Some people may not be able to afford to use consolidation companies.

If I haven’t mentioned this, I will mention this again; the rules have changed for having a card nowadays.

The credit card company will send you more information on your card stating your interest and other important factors.

If you do not agree with these factors you have the option to disagree or do nothing. If you disagree, the company will close out your account and you, the consumer will no longer be able to use your card.  What other ways will the companies have to keep you in their clutches? I am one of them. As long as you pay your bill on time you are in good standing with the company.

Read more posts by Stacey Barlow.  Stacey is a contributing blogger for JenningsWire.