I noticed that the rise in credit card payments is December's billing no? For many that will arrive *during* December---that ought to put a crimp into the shopping profit season don't ya think?
I can't think of how many people haven't believed me---they tend to think this will happen to "bad credit risks". Many of them are the "up to my eyeballs and mini-mcmansion in cc debt" middle class types. They can't afford a doubling of the minimum payments. Add heating costs? Disaster. Seriously, didn't Walmart and their lobbying machine pay attention to this one? They usually watch anything that effects their profits---and in the "make or break" Xmas season?
2. We don't have a lot of debt, but we already pay
triple the minimum to pay things off faster. This just means we have to up it even more or we'll just be treading water.
I don't know what's going to happen as a result of this. This is the first Christmas that we won't be doing gifts at all except a few for our child. We decided that last year, and this is just another good reason for it.
who told me to pay down debt if I could now because of the rise to 4% I'm trying but have medical debt from a family member that has made this year hard---still, not the problems many I know who have more than I are going to have.
But, I've read it repeatedly on DU on the cc and bankruptcy threads before the accountant I know mentioned it as well.
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