Posted by admin at 11/16/2009
"As household wealth has declined in the downturn, more American families are facing financial distress due to high debt burdens. In 2007, before the recession began, 14.7 percent of U.S. families had debt exceeding 40 percent of their income." (Source:
U.S. Congress' Joint Economic Committee, "Vicious...
Posted by admin at 11/16/2009
Did you know that 93 percent of credit cards allowed the issuing bank to raise any interest rate and any time by changing the account agreement? (Source:
Pew Safe Credit Cards Project, March 2009) Have you found your monthly minimum payments to your credit card getting larger and larger and you are not even paying off the principal? You pray that you can find...
Posted by admin at 11/16/2009
Are you having issues managing your debt? Do you find that you are constantly struggling to get your finances under control? No matter how much you pray and pray your efforts just are not getting the job done? You are not alone.
In a survey completed in July 2008 by Javelin Strategy and Research, 28 percent of those surveyed said their ability to pay off their credit card balance has become more difficult. And when finances are tight, 59%...
Posted by admin at 11/16/2009
The average credit card-indebted family in 2004 allocated 21 percent of its total income to servicing monthly debt compared to the 13 percent dedicated to debt payments among all households, according to Demos.org,
"Borrowing to Make Ends Meet," November 2007.
Are you praying for help with your debt? Do you struggle every month like so many other Christians to get control of...
Posted by admin at 11/09/2009
It seems that more and more there is a bit of a negative aura surrounding debt settlement. Some say that debt settlement can ruin your credit score for the rest of your life or only an attorney can settle you debt.
But the truth is that if you are 60, 90 or 120 days late on unsecured debt payments, your
credit score has already taken a hit. Debt settlement could...
Posted by admin at 11/09/2009
So, you’ve decided that you are going to stand proud and once and for all take control of your financial situation. You declare to yourself, this is the day everything turns around! You stand in kitchen back straight and head held high. You know you are going to do this. The problem, how are you going to get everyone else involved?
Make It Fun! Stress brought on by increasing rate fees, overdraft fees, late payment fees from...