As the economy takes a turn for the worse, consumers begin to tighten down on cash expenditures and as a result they start using plastic to buy most everything. It has been noted by many economists that when consumer confidence is low and money is in short supply a peculiar thing happens; consumers start to use credit cards and other personal lines of credit to make purchases. The reason people use plastic over cash during slow economic time has to do with the mentality that they can pay it off later and still keep their hard earned money in the bank. For most Americans, this way of thinking only leads to high credit card balances and high interest rates that only help inflate a balance. The sad reality for a lot of American families is that these credit expenditures turn into unmanageable accounts with double dig how to dispute credit report it interest and minimum payments that go straight to interest. While consumers generally think they are being financially prudent by making the minimum payment every month on time, most fail to realize is the debt will never be paid in full. God forbid a job loss or family illness or death. These events can lead to debts piling up and past due notices arriving in your mail box. Once a consumer is delinquent with one creditor that nice 2.99% intro rate will jump to 24.99%, all your other creditors reserve the right to increase your interest rate because you are now considered to be a “riskier client”. This is called Universal Default, never heard if it? It was in the fine print on the disclosure the credit card companies send in the mail. Now back to the dilemma, consumers generally fall into a few different categories.
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Debt Consolidation | 
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