Eliminate Credit Card Debts - How You Creditor is Using Your Credit Report Against You!
A very sobering fact about credit card debt is the fact that creditors are able to review your credit reports anytime that they wish.
This means that if you happen to make a late payment at any of your other credit companies, and then you decide to ask for a lower interest rate, you may not get it at the company that you have a good payment history with.
This makes it hard to eliminate credit card debts because the creditors are actually working against you.
The fact is that if you default on one of your payments at one card company, the creditor that you have a good payment history with has legal rights to raise your interest rate because you defaulted at your other credit company.
Does this sound odd? It is, and this is why this article has been written, to inform you that you don't have to be in debt anymore.
Again, this makes your ability to eliminate credit card debts nearly impossible.
The government has stepped in to help you and they have created a stimulus package that can help you erase all of your debt, as long as you have over $10,000.
This should not be hard because the average family has over $10,000 at bare minimum.
Another reason why it is very hard to eliminate credit card debts is that your creditor can use your credit report against you in many other ways besides interest fees.
Based on your credit report, during and after your cardholder agreement, your creditor has every legal right to raise or lower your spending limit and penalize you without giving you proper notification! Think about this small fact for a second.
What we are talking about is that your credit company can take any spending habits and any mistakes that you may have made with another company and make it as if you made a mistake with their company.
I know this is not right, and this is yet another reason why you should erase your credit card debt.
This means that if you happen to make a late payment at any of your other credit companies, and then you decide to ask for a lower interest rate, you may not get it at the company that you have a good payment history with.
This makes it hard to eliminate credit card debts because the creditors are actually working against you.
The fact is that if you default on one of your payments at one card company, the creditor that you have a good payment history with has legal rights to raise your interest rate because you defaulted at your other credit company.
Does this sound odd? It is, and this is why this article has been written, to inform you that you don't have to be in debt anymore.
Again, this makes your ability to eliminate credit card debts nearly impossible.
The government has stepped in to help you and they have created a stimulus package that can help you erase all of your debt, as long as you have over $10,000.
This should not be hard because the average family has over $10,000 at bare minimum.
Another reason why it is very hard to eliminate credit card debts is that your creditor can use your credit report against you in many other ways besides interest fees.
Based on your credit report, during and after your cardholder agreement, your creditor has every legal right to raise or lower your spending limit and penalize you without giving you proper notification! Think about this small fact for a second.
What we are talking about is that your credit company can take any spending habits and any mistakes that you may have made with another company and make it as if you made a mistake with their company.
I know this is not right, and this is yet another reason why you should erase your credit card debt.
Source...