Credit Card Debt is a Disease Which Can Be Cured

Are you in credit card debt? You’re not alone. Credit card debt has become a disease in America . It has grown to epidemic proportions and it affects people of all income groups, all professions and all ages from young adults to senior citizens. Consider these sobering statistics with which no one can argue:

  1. Credit card spending is at an all time high according to The Nilson Report which is a trade paper of the credit card industry. During the first six months of 2002, $920.90 billion in purchases and cash volume was generated by Visa, Mastercard, American Express, Discover and Diners Club, up 8.1% over the first half of 2001. According to this same credit card industry trade paper, delinquencies and charge-offs were also up significantly over last year.
  2. The Federal Reserve reveals that credit card debt in 2002, and household debt in general, is at an all time record high when compared to disposable income. Many analysts are concerned that this unprecedented level of debt poses a significant danger not only to the financial health of American households but our entire economy.
  3. People between the ages of 35 and 54 have credit card balances 5% higher than the median for all Americans.
  4. The Moody’s Delinquency Index, which measures the portion of credit card accounts whose monthly payments are more than 30 days past due, continues to rise every year.

In 2002, the typical U.S. household carried an average credit card balance of more than $7,500 compared to only $3000 in 1990.

Like a disease, credit card debt has gotten out of control for many Americans and it causes real pain and real suffering. That’s the bad news.

The good news is that you can cure credit your bad card debt and you don’t have to lose your home, your car, your family, your credit and your peace of mind. There is a better way at O.W.D Law Offices. There is both powerful non bankruptcy as well as bankruptcy options which O.W.D Law Offices uses to wipe out credit card debt.

You don’t know our law firm yet but our goal is to show you a new way to debt freedom you probably overlooked. So let’s get started!

We can help you eliminate your bad debt. You can control debt; it doesn’t have to control you. We can help you get your life back. That is O.W.D Law’s mission. It is our goal. It is our commitment to you.