Many debt stressed American consumers are unaware of the fact that it is now legally and ethically possible to eliminate up to 50% of your existing credit-card debt.
There are little known consumer protection laws that now let you reduce debt by up to half and many Americans are unaware.
The American consumer is in dire straits and the US government has responded by restructuring laws to assist consumers in getting out of debt more quickly.
If you are overwhelmed by credit card debt, you need to know some of this free information on how to reduce your credit card debt as soon as possible.
Just consider that if you owe ten thousand dollars in credit card debt, it will likely take over 40 years to pay off, and you will fork out over $40,000 in interest? This is at a 17 % rate of interest and making your minimum payment, which most people do.
At the same rate of interest, $5000 would take 20 years to get rid of.
Fact: Private companies are now issuing out free information that can help anyone erase their debt that they have with their financial institution.
Many Americans have been misled into thinking they have to pay every penny that they to their credit card company.
But in reality you are able to legally and ethically erase half of the obligations that you have with your financial institution.
The recession has put many Americans ahead of the game as it is now a buyers market.