When times were good it was easy to be casual about money. Credit Card Companies used an aggressive marketing strategy offering all kinds of incentives to consumers to take and use their cards. They often gave unsolicited credit limit increases and such temptation was often too hard to resist. Inevitably people often lived beyond their means and used credit cards to withdraw any money needed to meet their financial obligations. They often simply made the minimum 5% payment to comply with their cards’ regulations. Their debt almost crept up without their noticing and when the recession came there were many…
