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Old 11-06-2005, 07:44 PM
redrat11 redrat11 is offline
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Join Date: Sep 2005
Posts: 2,399
Default Credit card Madness

Does anyone have info about the january 2006 new credit card law, that efectively doubles the minimum payment a person can give? For instance if you pay lets say $80-$100 dollars on a minimmum balance it will be doubled to $160-$200 payment, this could sink many people into bankruptcy, which by the way the new law makes almost impossible to obtain.

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Old 11-06-2005, 08:00 PM
Shannow Shannow is offline
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Default Re: Credit card Madness

If a person found themselves in such a situation, then they already bankrupt, they just don't realise it yet.

$100 this week is better than $100plus 12%p.a. next week.
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