Credit Repair & Debt Relief Issues

Nominal Interest Rate My @#s!

Here is something I saw cross my desk today that I thought was a bit funny, but not. At the bottom of a client’s credit card statements was the statement that I had to post a graphic image of in order to preserve it’s full impact (please see graphic inset).

If this is what they consider to be a ”nominal interest rate”, what do you suppose would be a high interest rate? it is no wonder so many people are in a position where they can no longer keep up. There are thousands of people without jobs, gas prices are ridiculous, and the cost of consumer goods has never been higher. You would think that the credit card companies would be best served to lower interest in order to maintain their clients on the books. But, as you can see from this example, that is not the case. We are helping our clients who are in financial hardships get out from under their debts very quickly with a great debt settlement program.