The Credit Card Debt Sham
Americans Didn’t See Coming

Madison Avenue Meets The Credit Card Companies
The advertising executives who first launched the Madison Avenue Guerilla Marketing Tactics for the credit cards companies, can only be described as advertising geniuses. Do you really realize what they accomplished? They overwhelmingly persuaded Americans to take on the “Charge it now and pay for it later” mentality. In the process, they succeeded at seducing the masses into gleefully accumulating burdensome and often backbreaking credit card debt. It was a coup of all coups. When you comprehend what they pulled off, you just may be appalled!

The Truth About Credit Card Debt
Most people believe the mission of credit card companies is to help consumers. Nothing is farther from the truth. The mission of every credit card company is to convince, persuade and seduce consumers into accumulating more and more debt. Don’t ever forget this irrefutable fact concerning credit card debt. The more debt consumers amass, the greater the profit of the credit card companies. Consequently, when consumers take on less debt, the profits of the credit card companies decreases.

I’ll put it to you this way: More credit card debt equals more credit card company profits. Less credit card debt equals less credit card company profits. The truth is these companies want you indebted to them, by any means necessary.

OMG, The Credit Card Debt Disclosure
Every credit card user signs a disclosure prior to their plastic money being issued. The problem is, very few people read the in’s and out’s of these irrevocable one-sided binding contracts. Truthfully, that’s what the credit card companies are counting on; low readership. If they did read them, they would find a rigid set of rules and regulations that are virtually impossible to keep. A person would essentially have to be a perfectionist. Once they break or violate any of the written rules, BAM! They are hit with fees, late charges and other assessments.

Just so you know, credit card disclosures were written in “Legalese lingo,” at a level too difficult for the average consumer to understand. If you understood it, I promise, you would never sign for the credit card. Here’s a list of what you really signed up for:

• 0% to 33% bait and switch interest rates
• Exorbitant late fees
• Hidden charges
• Unexplained interest rate hikes
• Deceptive minimum payments
• Hidden rules in the fine print
• Universal default

How Did You Accumulate So Much Credit Card Debt?
Like most people neck deep in credit card debt, you may have stared at those ever increasing pile of bills, and wondered. “How did I accumulate so much credit card debt?” The answer is actually quite simple. The credit card companies hired cream-of-the-crop advertising firms to induce you to: “Charge it!” These guys and gals were paid millions to come up with ads designed to tempt, coax, urge and influence Americans to accumulate debt and keep accumulating it. If you look back at their slick advertisements with their not so subtle messages, you will notice that they:

• Encouraged the buy now, pay later instant gratification syndrome
• Encouraged you to spend money that you didn’t have
• Encouraged you to spend more money than you could afford
• Encouraged you to disregard your budget
• Encouraged impulse spending
• Made debt seem like it’s a fun thing with no consequences

We Gotcha! Credit Card Executives Accomplished Their Goals!
According to current statistics on myfico.com, today's consumer has a total of 13 credit obligations on record at a credit bureau. Nine of those are likely to be credit cards and the other four are some type of installment loan, (auto loans, mortgage loans, student loans, etc.). People drowning in credit card debt, don’t realize it, but they are now working for the credit card companies! This is the credit card debt sham Americans didn’t see coming.
 

Joel Marks has been helping people get out of debt and avoid both bankruptcy and foreclosure for over fifteen years. Utilizing savvy debt counseling, debt management programs, Federal laws and a team of attorneys, debt counselors and advisors, he has quietly assisted thousands come from under the heavy burden debt.

 Source: http://debterasure.com/