24.95%: The Alarming New Reality of Credit Card Interest Rates – Check It Now!

How Higher Interest Rates Are Wreaking Havoc on Finances

High-Interest Rate Hike – Why You Should Pay Off Your Credit Card Debt ASAP

The rise in credit card interest rates from 16.65% in 2022 to nearly 23% today shows the increasing financial burden on those with credit card debt. This spike makes carrying debt more expensive and managing even minimum payments more difficult leading to serious financial issues.

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(photo: Bankrate)

Get Out of Debt with a Reputable Program

Debt forgiveness programs can help by negotiating with creditors to reduce the amount owed in exchange for a lump-sum payment. It’s important to choose a reputable program and so look for companies accredited by the American Fair Credit Council (AFCC) or the International Association of Professional Debt Arbitrators (IAPDA).

When choosing a debt relief company check reviews on sites like the Better Business Bureau (BBB) and Trustpilot. Many offer free consultations to compare programs and fees. Ensure they offer personalized plans and have good creditor relationships. Avoid companies with unrealistic promises or aggressive sales tactics, according to the report of CBS News.

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