Recent Articles of Interest

There is a major debt crisis that is sweeping across America. And the creditors are now striking at the young people to get them used to spinning their wheels on the credit treadmill at a tender young age. The major banks post up regularly right outside of college campuses offering young unemployed students credit cards pre-approved with credit limits of $5,000 or more for kids with no credit histories at all. All with the intent of getting students swamped in debt so once they graduate they will be riddled with credit card debt for a very long time.

This causes an abundance of unnecessary problems for young students. One large problem is that kids need to take time away from studying to work more hours to pay off high interest credit card debt. Some situations force kids to completely drop out of school to get full time jobs to pay off their bills.

For anyone who has seen the award winning documentary 'Maxed Out' you can see first hand how bad a debt situation can affect students. There were two students whose heartbroken parents were interviewed, both of whom committed suicide over their large debts that they owed. The annoying phone calls from collectors didn't at all help the situation. Plus many more students fall into deep depression because of the stressful debt situation stuck in.

These credit card companies even go to the extent of employing other college kids to solicit their credit cards within the campuses. Some students will make up to $20 for every student who signs up to get a line of credit. And I am sure there are many more techniques they are using to sign up as many naive college students as they possibly can.

One way to reverse this problem would be to enlighten students in the 12th grade before going off to college about the associated consequences that come with having lines of credit. There should be a must take class developed into the curriculum of high school seniors educating them on what could happen if they abuse credit. The class should also teach kids how to correctly budget their income to avoid any overwhelming monetary problems in college.

Debt settlement is a very attractive method of credit card debt relief for the students that have found themselves in a debt situation that they can no longer handle. It will help students save money and become free of their debts within a few years, so when they get out of school they will not be burdened with a large debt mountain over their heads