According to democrat Barack Obama credit card companies deceive consumers into piling up massive debt they have little hope of repaying. He called for new restrictions on what he termed "predatory" companies.
"The truth is, our middle-class families are not going to be secure so long as they can't get out of debt," Obama said Monday, in a presidential campaign speech Monday. "If we're serious about stopping Americans from falling deeper in debt, we've got to crack down on predatory credit card companies that are pushing them over the edge."
Obama pointed to studies showing that consumers have an average personal debt of more than $8,000, a load driven higher by credit cards. He said soaring credit card debt could turn into a crisis as big as the one in the subprime mortgage industry.
Obama feels that "The larger risk is that what's happening in the housing market could lead to a slowdown in the entire economy,".
And he may have a point. There are some on the other side of the debate that assert the credit crunch in America and in particular the credit card debt really is not as bad as it seems. They point to the percentage of personal debt and claim it really is not too bad.
And yet, more people file bankruptcy and more and more Americans are losing their homes to foreclosure. This cannot be ignored and in large measure it is a direct result of piling up consumer debt on top of consumer debt.
There is no problem with our debt ratio in a healthy, growing economy. Unfortunately, that is something we do not have and may not have for some time.
If you are trying to buy a new home or save the one you have, you really need to get a handle on the credit cards.
A great resource that I can recommend to help you out of the hole is the Credit Secrets Bible. It is the option I recommend for most people to "do-it-yourself". We’re not talking brain surgery here. Many credit repair companies try to make the process overly mysterious in order to justify their big bill. With the guidance, forms and letters contained in the Credit Secrets Bible you can “do it yourself”. The main requirements are that you can read and write at the 7th grade level. And have a willingness to follow through.
You can also claim a free copy of The Credit Secrets Mini-Book by simply right clicking the link and “Save As”.
Filed under Uncategorized by on Dec 3rd, 2007. Comment. 
The Credit Secrets Bible has been a top seller in the field of credit repair since 1994. If you're still finding it difficult to buy a home with less than perfect credit and have been "grabbing at straws" to find some guidance out of the hole you find yourself in, it may just be what you've been looking for.
As you've discovered here, there are ways that you can buy your new home no matter what your credit report looks like. You do not need to use your own credit to buy a house. That being said, I realize that some people do not want to go the "creative" route in buying a home and do need to get their credit cleaned up to buy a home with traditional financing.
And, of course, no matter how you buy your home, you need good credit to live in these times. That is unless you can pay cash for everything your heart desires. Very few of us are that lucky.
Can anything really be done to clean up a credit report and improve our credit score? The answer is a qualified..."Yes!". The more knowledge you have about credit, credit bureaus and credit scores before you begin the repair process, the better off and more successful you will be.
There are basically three ways to get derogatory information removed from your credit report and improve your credit score.
Hire a Credit Repair Clinic
You have to be careful here. Some clinics are good and do just what they advertise. The less ethical credit repair companies charge exorbitant fees and don't do much, if anything to help you. Their main concern is helping their own bank balances. Many use out-dated letters and forms that used to work wonders but which the bureaus now just ignore.
You can expect to pay $100s to $1000s to hire a credit repair company. Sometimes they charge a set-up fee and a monthly service fee. Without a sound knowledge base, you may end up deeper in debt with no improvement at all in your credit score.
The Credit Secrets Bible gives you this knowledge. Knowledge you absolutely need to deal from a position of strength with your creditors, the bureaus and credit repair companies.
Hire an Attorney
Some attorneys specialize in credit repair. Here again, you can expect a healthy bill from the attorney for his work. A big plus in their favor is that it is easier to find an ethical attorney to work for you than it is to find an ethical credit repair company. You still need to equip yourself with the type of knowledge contained in The Credit Secrets Bible to be sure you are selecting the right attorney.
Do It Yourself
This is the option I recommend for most people. We're not talking brain surgery here. Many credit repair companies try to make the process overly mysterious in order to justify their big bill. With the guidance, forms and letters contained in the Credit Secrets Bible you can "do it yourself". The main requirements are that you can read and write at the 7th grade level. And have a willingness to follow through.
There are many books and services on the market that make grand promises to improve your credit. But how many have been around since 1994 and have proven themselves over and over again? By giving you the actual secrets the credit bureaus jealously guard? Only one that I am aware of. Consider for a moment that improving your credit score may lower you home mortgage rate by 2% and save you $100,000 or more. I think you would agree that the current reduced price of $67.75 for the Credit Secrets Bible is a small price to pay.
Grab your copy today and start living the American Dream in your own home with an affordable mortgage.
Filed under Uncategorized by on May 24th, 2007. Comment.