Thursday, July 26, 2012

Change Dot Org Debt Neutrality Petition, Check it out.

Click here to check out the Change Dot Org Debt Neutrality Petition. Consumer credit card and student loan debt in the U.S. is stated at around 2 trillion dollars.

This is actually a misrepresentation. Credit Card debt is regularly discharged when people don't pay, but the debt still remains and many times a court order is obtained on that debt even though it no longer is counted by the government as credit card debt. Gasp.

ALL credit card debt, not just active debt, is probably around 2 trillion dollars, not one trillion dollars. And lets not forget that damaged credit scores result in even higher interest rate charges in the future.

3 trillion dollars in consumer debt works out to 1 billion dollars a day for the entire year. Another way to look at it, 50 million americans pay 20 dollars each, every single day, just to make the interest rate payment on the 3 trillion dollars in debt!

Isn't it time to suspend interest rate charges on that 3 trillion dollars in debt? Please sign the Debt Neutrality petition at Change dot org.

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