Credit Card Debt Survival When Your Unemployment Checks End
Unemployment benefits eventually end but surviving your credit card debt payment which was specifically designed to keep you paying for your entire life can either be devastating or an income opportunity. A look back at history will have the card companies paying you!
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Card companies have always been secretive, deceptive and out right cheaters. Angry congressional members almost voted to make cards illegal but instead created a law where people can take money from card companies and never pay back a dime! Yes it does sound unbelievable but if you have a few minutes to learn the story it could be the best time you’ve ever spent.
Back in the 1950s and 60s the idea of a credit card was in its infancy so bankers decided to give away cards to basically anyone that had an address. Because the cards are “unsecured” the banks did not stand to lose one penny even if no one ever paid. Use the search term “Frontline – the Chicago debacle” to read the unbelievable story and see why Congress was ready to outlaw plastic forever!
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Everybody wanted a piece of the action including organized crime, some postal workers and even some states opted into this “to good to be true” moneymaking opportunity. Of course Mr. John Q Public was the victim of this crime against humanity. Congress was outraged and began thinking about how to fix this problem.
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