If you’re feeling overwhelmed about your debt, you’re not alone. According to the statistics, over 40% American families spend more money that they earn and the average American household has nearly $10,000 in credit card debt.
One of the common ways used by most of debtors to resolve their …

A reader asks…

My 21 year old son wants to buy a home theater system using a Visa card and he has no intention of paying it back. He’s says that it’s OK because debt relief companies that advertise on shows like Hannity and Rush will fix it for you. It seems to me that someone has to pay for it in the end, but I know that Rush and Hannity would never advocate anything unethical.

A reader asks…

$40,000 in debt with 4 credit cards, I have great credit and pay on time. Recently cc’s raised interest from 7.9 to 23% because they said too, much debt ratio. If I use consolidation will that affect credit and do they charge and are they just doing what I could do (like search for other credit cards with lower rates?)