JayAdler-Freelance Writing: Credit Card Reform May Mean Default For Most Americans JayAdler-Freelance Writing: Credit Card Reform May Mean Default For Most Americans  ¶ 11:28 PM 0 Comments

  Credit Card Reform May Mean Default For Most Americans I am presently a small business owner, Freelance Writing which is a widely displayed writing service on the Internet. I am the type of person who has a successful and rewarding career which began in 1962 on the Upper West Side of NYC where I delivered laundry bundles @ 25cents a time. I am one of these individuals who believes that just because I get a good night's sleep not worrying about household bills does not mean that as a freelance writer I cannot point out the unfairness that people are receiving with so called reform bills. Nobody in my family uses a credit card except for isolated instances. We are all debit and cash. We do not carry any credit cards on our person and file a few for the unexpected. Recently my wife became seriously ill and I chose a physician on the East Side of Manhattan connected with one of the two iconic hospitals. One of the problems never foreseen by the quick down the shoot health care bill is that a medical practice does not have to accept any insurance. You pay up front and then submit for a refund from your insurance if you can do that. So I am standing there, home being way out and I had to give them $6,000. I had brought a credit card just to be safe. When I got the bill I brought the balance down to $2000. now here's the rub as they say. The next payment at a $2500 balance had a $40 minimum payment. When you dice that up, $40 mostly out the window is a lot of money. The next bill came and it was $95 minimum, credit reform, the new calculation. I paid the balance in half immediately. So this is the reform, squeezing people in this climate. They will never be able to stay afloat with this new math.

Labels: Credit Card Reform

  ¶ 11:27 PM 0 Comments