Rising Credit Card Payments An Incentive?
January 12, 2006
The minimum payments are being doubled thanks to the new rule that went into effect and experts have said this would be a huge strain on households. However consumers are showing just how resilient they are by using different tactics and new ways to eliminate their debts all together.
Consumers stung by the sudden doubling
of their minimum required monthly credit card
payments are finding new ways to eliminate credit
card debt by replacing their card debt with cheaper
alternatives such as a 401(k) loan, said retirement plan
expert, Daniel Lamaute, CEO of Lamaute Capital, Inc.
(InvestSafe.com).
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