Welcome to Don't Pay Credit Cards.

This is the sister site of http://www.dontpaycreditcards.com which I urge you to bookmark as well. My hope is to have a way for folks to come to terms with the massive deleveraging they have observed and perhaps experienced in their own lives. This deleveraging is necessary in order to stop the big banks from taking advantage of us through debt. Debt is a CONTROLLING MECHANISM. Debt can control what your employers think about you, what some landlords can think about you and what your insurance companies think about you. However it should not be that way. I know people who have some trouble balancing their own checkbooks who are whizzes in the accounting field. I know people who are honest and courageous who have made bad financial decisions, some of whom who were convinced by unscrupulous lenders and real estate agents that said: "real estate always goes up."

I know people who have personal circumstances, being medical, or financial, that have surprised them with a need to spend more than they want just to survive. I would hope that people would not think that these people are not important. 41 percent of people live paycheck to paycheck. Welfare has been directed toward big banks and toward other companies, like the insurance companies. But people have received very little stimulus. 43 percent of people in the US spend more than they make. That number cannot continue to remain so high.

Under these circumstances no wonder many need to stop paying their credit cards. They either need to survive or they need to pay their credit cards. If paying credit cards means financial ruin then stop paying them. It is not like the banks have made any effort to lower interest rates as they received stimulus from our taxpayer dollars. It is not like they can't be fair when they borrow at 1/2 percent and lend at 20-30 percent.  The bank scam of high rates is only the tip of the iceberg. For more information about what banks have really done you need to go to the sister site, http://www.dontpaycreditcards.com to get the whole story.  

Bank Usury Has Been Sanctioned by Our Sleazy Government.

Bank Usury used to be considered unfair. But our corrupt politicians literally ignore any concept of usury. State usury laws used to be set at 12 percent until South Dakota threw that number away to allow bank business to come into the state. Now, the rates banks charge based upon the cost of borrowing is now obscene. The politicians are so in the hip pockets of the big banks that you as consumers have been abandoned. Since you have been abandoned yhou need to do what you need to do. You cannot feel guilty about walking away from a loan shark.

I am not a financial advisor. So I am not giving advice based upon possible repercussions of your actions. I am not a financial advisor and I am not an attorney. But life is short, and suffering with credit card debt beyond what is tolerable is not the best way to live. If we hurt the big banks we hurt the power structure of the world. I should have stopped paying credit cards when I was raising 4 kids. What a mistake I made to continue to pay. But at least in those days I felt rates were fair and fees seemed more reasonable.

But I am smarter now. I am seeing that banks are borrowing at low rates and then are gouging the consumer with high interest. Now it is clear that the banks are abusing the consumer. Now it is clear that consumers should walk away if they are confident they can handle the possible negative issues that could come their way.