Credit Card Debt: Cause for Concern
description: Whether credit cards will be the next shoe to drop, with Gregory Larkin, Inovest and James Pethokoukis, U.S. News & World Report
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10/17/2008
10/17/2008
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People with credit cards should have a limit.The way to control a credit debt is to set a credit limit and not let go pass the limit.If a person has debt of $10,000.00.The limit should be $2,000.00.Then let them pay like load over 7 years.They pay a min each month with the opp.to pay more.And no credit is given till they drop there debt below$2,000.00.This lets hold on to there credit card and at the same time pay what is owed over 7 years. And let them pay it back on a fix rate of 10% to 15 %.and no credit card given till the credit drop below $2,000.00.this controls the backruptcy on the households.MSJR -
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