What has in reality caused America’s financial disaster?
December 17th, 2009
Although the explosion and bursting of the mortgage industry is responsible for a gigantic portion of the debt across our country, credit cards are just as accountable. Credit card debt has been rising for decades and is simply getting worse during a time of such dire straits. For the first time, consumers have been forced to charge away, for the most part due to the crumbling of the job market. Most Americans are getting by because of their credit cards. The sad part is, that can simply go on for so long before it puts your back against the wall. Many people find themselves stealing from Peter to pay Paul by paying one credit card bill with the next. Credit card debt relief is a very slow process, no matter which system you take.
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