Are You Suffocating in
Credit Card Debt?

With credit card interest rates up to 29% and pay day loans over 100 %, some individuals find themselves in an impossible dilemma: how do I keep paying when I am having difficulty just keeping current on my day to day expenses. Others have found their present monthly income less that it was at the time the credit card debt was incurred or have found that medical bills are not covered by insurance, all making their ability to repay impossible. If interest rates were reasonable, such as 10%, repayment could be possible. However, the creditors are not willing to lower the interest rates and our elected representatives are unwilling to protect those who have voted them into office.

A few years ago, interest rates above 10% were illegal. Higher rates were charged by mafia loan sharks. Guess what happened? Credit Card companies have manipulated both Courts and Congress to allow the credit industry to set their own limit on interest rates.

Next, the credit industry gave members of Congress large political contributions to change the bankruptcy law to make bankruptcy relief harder to obtain and more costly. This new law includes:

• Creates "means-testing" for eligibility to allow a debtor to file a Chapter 7.
• Imposes an extra fee on you or your attorney if the bankruptcy trustee challenges your budget figures and wins.
• Requires a "certificate" from a credit counseling agency before you can file a bankruptcy.

Deuteronomy Chapter 15

1. At the end of every seven years thou shalt make a release.
2. And this is the manner of the release: every creditor shall release that which he hath lent unto his neighbor; he shall not exact it of his neighbor and his brother; because the LORD'S release hath been proclaimed.