Houston, TX (1888PressRelease)
July 01, 2009 - The producers The Economic Report are pleased to announce that The Credit Card Solution will be featured in an upcoming episode as part of the show’s Looming Credit Crisis Series focusing on Companies Assisting Consumers Through Turbulent Times.
The statistics read like a litany of America's credit card dysfunction:
- 185 million Americans have at least one credit card; 1/3 of them cannot make even the minimum payment required on their cards.
- Average credit card debt is now approaching $10,000 per household.
- The most recent Federal Reserve study indicates 43% of U.S. families spend more than they earn.
- Total unsecured debt for American consumers now approaches ONE TRILLION dollars.
- Most disturbing, credit card defaults are projected to reach $96 billion dollars in 2009, 4 times what they were in 2007.
Certainly consumers must be held accountable for poor fiscal choices. However, consideration must also be given to the scores of responsible Americans who may have resorted to credit cards as a lifeline in difficult economic times and now find themselves waging a losing battle with relentlessly escalating interest rates and fees.
In the last few years, Houston-based The Credit Card Solution, in conjunction with its nationwide attorney network, has helped thousands of families regain control of their finances and invalidate over $150 million in credit card debt.
The Credit Card Solution's approach primarily centers on holding credit card companies, credit reporting agencies and especially debt collectors accountable for violations of the Truth in Lending Act, The Fair Credit Reporting Act, The Fair Credit Billing Act and the Fair Debt Collection Practices Act (FDCPA). The company enlists the talents of a network of attorneys with expertise in Federal Law, Banking law, U.S. Supreme Court decisions and other legislation passed by Congress. Rather than bow to the credit card establishment, The Credit Card Solution acts as an advocate for its clients to provide a legal, moral, and ethical solution to the overwhelming problem of credit card debt.
According to Bob Lindsey, Principal of The Credit Card Solution, “This problem of credit card debt is the next major financial crisis that will hit the American economy and that already is a major crisis for millions of Americans. While we expect the U.S. government to continue to support and bail-out the banking institutions, we see no comparable relief being provided for the consumer. We are pleased to offer our clients a viable and effective solution to this financial dilemma”.
The Credit Card Solution's website offers an excellent primer on America's credit card conundrum and a detailed comparison of its philosophy with other, often less successful methods
For more information, please visit http://www.thecreditcardsolution.com
The Credit Card Solution was established to offer consumers and their families a legal, moral, and ethical solution to the overwhelming problem of credit card debt. Learn more about The Credit Card Solution at: www.thecreditcardsolution.com/
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