tag:blogger.com,1999:blog-6671521.post3200455795801064900..comments2023-10-26T05:03:32.201+13:00Comments on BIG NEWS: Unknownnoreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6671521.post-55239843798568869952008-04-01T21:01:00.000+13:002008-04-01T21:01:00.000+13:00The elephant under the bed will be the monthly int...The elephant under the bed will be the monthly interest overhead on their maxed-out credit cards. If you owe $20,000 on plastic, your monthly minimum payment will be about $500. Given their other overheads, they are likely on the plastic treadmill, unable to pay enough off to make any headway. It can takes years to pay off credit cards simply because the interest rates are SO high. Usually over 20%. That's a budget-blaster when your credit card burden is the size of a small mortgage. Having (over 15 years) accumulated over $50,000 on plastic a few years back, I know how cancerous this is. Those days are gone.Steve Withershttps://www.blogger.com/profile/04221815213521767405noreply@blogger.com