One of the biggest challenges of wealth development you are probably facing now is how to overcome loans. But we are going to be talking about credit card loans.
With credit card balances of $10,000 or $20,000 or more, at 20 and 30 interest, you will find yourself paying monthly payments of $500 or more in interest expense alone, never making the balance of the credit card
debt decrease, adding even more defeat and pain to the cycle.
This negative amortization as its addressed - thats when you start paying interest on the interest you already owed as
you didnt make a big enough payment to cut the balance - will
mostly be against the law due to recent regulations set in place over the last few years. This is precisely why you should pay off high-interest credit card debt.
Credit Card Catastrophe Avoidance
Everything You Need To Know About Managing Credit
Better