http://www.debtfreepower.com/credit-card-debt/eliminate-credit-card-debt.html Don't downplay how significant your debt is. It is time to eliminate credit card debt. Here are some terrifying stats that will hopefully urge you to eliminate credit card debt from your life. en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 Get debt relief, or enjoy a bleak future It doesn't matter where your debt stems from, you need to nip it in the bud, and pronto. Whether your problems come from fixed expenses like your mortgage and car loans, or it comes from variable expenses like dining out and plasma televisions, you have to eliminate credit card debt in order to avoid bankruptcy. Oh, is that so? You really don't think that a few impulse buys, or a couple of medical bills on a credit card can lead to ruin. Take these statistics into consideration. A $10,000 debt at 18.5% interest typically takes 32 years and $24,500 to pay off if you don't pay more than the required monthly minimum. The average college student owes $2,800 in credit card debt (not including student loans). If he or she pays $50 a month and the interest rate is 18%, it will take more than ten years to pay it and he or she will have paid $6,154. In 2004, the average household credit card debt was $9,312. Still think we are overestimating? The time is now to eliminate credit card debt. It is never too soon. In fact, debt elimination is a proactive effort. You want to avoid falling into credit card debt before it accumulates. You see, it's much more difficult to recover than it is to eliminate credit card debts. For the sake of your financial future, heed our warning and make an effort to eliminate credit card debt. Sat, 26 Jul 2008 15:00:00 EDT