Avoid Being a Deadbeat by Eliminating Your Debt

Avoid Being a Deadbeat by Eliminating Your Debt
Deadbeat. The term is referenced in the dictionary as "One
who tries to evade paying debts". Even Black's Law
Dictionary defines the term as "A person who does not pay
debts or financial obligations". So is may surprise you to
learn that the credit card companies use this term to
describe people who actually pay their balances in full.
Every month. Month after month.

This of course is not official, just behind the scenes.
But for those of you who pay your full credit card balances
in full every month, the credit card companies don't really
like you. The reason of course is that they don't make
much money from you.

Sure, they make some money. If you pay your balances in
full, the bank's profits from "you" are really stripped
away from the retailer you buy goods and services from.
Which means this money is stripped out of the economy. So
if you really want to help the economy, use your debt card,
or better still, use cash.

Credit cards are just extensions of the banks. The real
profit for the bank is the interest you pay when you don't
pay your balance in full. To the bank, the perfect credit
card customer is the cardholder who pays just their minimum
each and every month. Most of that payment is interest.
This is "Free Money" to them. And we have all heard of the
outrageous interest rates being charged from credit cards
these days.

When you pay interest to the bank, it reduces your spending
power. This of course reduces the amount of money you can
and will spend. Which makes the economy suffer. But it's
a windfall for the bank.

So do the economy, and yourself, a favor. Become a
"deadbeat" in the eyes of the credit card company. Pay
your balances in full. At least stop using that plastic
card until you can rid yourself of these excessive balances.

If you cannot pay your balances, then it's then time to
look for a solution. There are many solutions out there.
Settlement programs, debt management, debt elimination,
consolidation, refinancing, and of course bankruptcy. Not
one solution is best for everybody. Each individual must
weigh the pros and cons for each solution to their own
situation.

People who find themselves in a cycle of debt need to find
a solution, and start now. The sooner you take action, the
sooner you will be debt free. The bank is not going to
take action for you. At least, not any action that is in
your best interest.

The hardest part may be to recognize that there is a
problem. A person may carry balances on many cards, each
with a seemingly manageable balance. Some people are
shocked when they actually add up those balances to find
their total credit card debt. This is when it hits home
that help is needed.

There is help out there, but you must go find it. Your
financial advisor is a good place to start. But educate
yourself. Don't just accept the solution of one
individual, even if that person is a trusted financial
"expert". Nobody is an expert on your needs; except
yourself.

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Billed as The True Debt Advisor
(http://www.TrueDebtAdvisor.com), Jim Vrana's mission is to
educate and empower people to overcome their financial
challenges. The time-tested legal procedures used to
eliminate credit card debt have been used by thousands of
people with tremendous success.
Contact:
Jim Vrana
(800) 637-1785
http://www.TrueDebtAdvisor.com