American Debt Consolidation
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American Debt Consolidation
As a nation and as individuals, America is facing a debt problem. And more Americans (and America itself) would be wise to consider American debt consolidation as a way to solve massive credit problems.
American debt consolidation is needed now, more than ever, because of some very troubling economic facts and figures. Almost 50% of Americans spend more each year than they actually earn. Stemming from this disturbing statistic is one that’s even more problematic: the average American household has 8 credit cards, and carries on those cards about $8,000 in debt. It’s important to note that many Americans aren’t actively, or effectively, paying off this $8,000 in debt. Rather, like many others, they are merely paying the interest; that is, they are maintaining the debt, but not removing it.
In light of these disconcerting facts, it’s clear that there has never been a more appropriate time to put the words “American debt consolidation” in the consciousness of every American credit card holder (and perhaps Congress as well!).
American debt consolidation involves taking existing credit card and other consumer debt, and rolling it up into a single payment. This American debt consolidation payment plan can be anything from a personal loan to a home equity loan, to a payment to a credit counseling service. The key, of course, is that the new arrangement bears a lower interest rate than the debts that it is paying. Since some department store credit cards deliver punishing interest rates - some as high as 30%! - it’s not hard to see how much money can be saved through this American debt consolidation.
America is the most powerful nation in modern history, and its citizens are among the most educated that the world has ever produced. However, unfortunately, that education has neglected to promote an awareness of debt management, just as laws and legislators have neglected to protect consumers from credit card companies and unreasonable interest rates. However, this must change: “American debt consolidation” must become a major part of each Americans’ vocabulary. It’s the only way that millions of Americans are going to achieve their financial goals and dreams.
