Why do you pay and pay, but your credit balance never goes down?
So many people, good people, hard-working people, are being oppressed. Can't quite call it slavery, because, well that was a crime against humanity and on an immensely different scale. But .. when you work your job hard, and have to give all the profits to someone else, sounds a bit like it, no? The master owns the slave's money. Isn't that what's happening here?
But any comparison with the evil of slavery detracts from slavery's evil, so let's change the nomenclature. But the economic oppression perpetrated by big credit on about 40% of the country is real, and it's nasty. They know what they're doing.
The evil secret of credit cards has been revealed
I once had a big credit card debt, and when I received a nice influx of money, I paid down about 30% of it. Somehow, within a few months, it was right back where it was before. I hadn't started buying more stuff, just that the company kept pushing me to pay minimums. They knew. They knew I wouldn't run it through a credit card debt calculator. They knew.
I will show you how this happens, and I hope you'll take action and join the quiet revolution against the Big Credit oppressors. Oppressors who pose as your friend and benefactor, so that you know not to beware.
(And, by the way, our U.S. government is ALSO in this same trap, racking up ridiculous national debt. The same psychology that makes credit cards such lethal weapons is fueling our current deficit orgy on steroids.)
What you had better know about the secret agenda of minimum payments
It seems so attractive, so helpful. You can have the card, with no fee and an amazingly low rate for the first 12 months. And even if you rack up 10K in debt, you only need to pay a few hundred a month.
For someone living paycheck to paycheck, that let's them be confident and get all kinds of goodies. Such nice people, those credit folks. And they've got you.
Fast forward a year. Now your APR zooms up to 24%. Your balance has hit 5 digits, say $11,000. If you pay $440 monthly, and never use the card again, it will take you 3 years to be out of debt. Three YEARS! But wait, it's worse than that. You will have paid $4000 in interest. And I'm not done.
Because you've got to eat, right? So you use the card for essentials, and - guess what - essentials run way more than $440/month. See how that works? Eventually you'll bump into your spending limit, and then be in debt FOREVER. Those monthly minimums will only cover the INTEREST.
The Biblical Hebrew term for interest is "neshekh," which translates as "biting." Someone puts their hand out for help (they need a loan), and the lender takes a bite out of it. It's taking advantage of a person in need, and it's disgusting.
Your money is yours, not theirs
I'm not advocating just not paying. A legal debt is a legal debt, and just because they rigged the system doesn't mean that you should want to not pay money you legally owe.
But the first thing we must do is straighten out our own house. Every one of us will do amazingly well to make a plan and implement it to smash credit card debt to pieces. If you have the money, pay the balance and then shred the card to pieces.
If you don't, get moving as fast as you can. Use the Snowball method, or the Avalanche method. Get a debt-challenging settlement company to fight for you. Your goal must be to never carry a balance again.
That's why I recommend ONLY using a debit card which won't allow you to get into minus. Every time I have had a card that allows minuses, I somehow found my way to be at the limit within a few short months. It's NOT a financial problem or situation. It is a PSYCHOLOGICAL one. The Big Creditors know how addictive that little mind-controlling life-mortgaging piece of plastic is, and they deal it to you.
Don't treat an addiction mathematically, treat it by waging emotional and mental warfare. Do what you have to to Get Out Of Debt. Period.
Here's something I never really got
A person in debt has a low credit score, usually. So when they try for a loan, the lender offers them a higher interest rate. Why? Because they are a greater risk for defaulting on the loan. Debtors with low credit obviously aren't strong with money. So because more of low credit borrowers will default, they compensate by charging higher interest rates. The net result of that is that lenders are charging MORE to people who have LESS. Why is that fair?
It's not that they are just looking out for themselves. Everyone, to a degree, has to do that. But they are being completely blind to whom they are biting. Just like Big Credit.
Wage a war of Freedom and keep YOUR money
The best financial experts, lead by Dave Ramsey, recommend a credit-card-free life. That means, CUT THEM TO PIECES and never use them again. Pay off each debt, and then close the account.
It's not easy. Sometimes, a credit card may SEEM like a necessity, and my cousin, who works at Visa, is not an evil person. But the facts are the facts, and when a person works hard to earn a living, and then basically gives everything beyond food-shelter-clothing to a credit card company, that is oppression.
Be a leader in the debt oppression liberation movement
Debt blocks futures, kills credit, which can prevent someone from finding a job, starting a business or getting a house or car. It impacts their whole lives. It is oppression.
People who are committed to freedom, and who always are ready to protest injustice may have not noticed this insidious form of financial slavery. Now is the time to fight back - with knowledge, financial planning and professional representation, if necessary. The people who, first of all, take care of their own credit debt, are heroes. They are brave and smart. The ones who cause others to do the same are the superheroes.
The solution is not a civil war or a rebellion. We're not going to easily change the system. But we can, one debtor breaking free at a time, begin. And for the people we set free, that new life is 1000% worth it!
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