Credit card debts

Why people don't want you to eliminate your credit card debts So many people have fallen victim to credit card debts. We are able to get a credit card everywhere that we turn but when we are in debt they are nowhere to be found. Sometimes the idea of paying off credit card debts can appear to be overwhelming with interest rates and how they work. After all if you take the number 72 and you divide it by the interest rate it seems impossible. You cannot win a game if you do not know the rules. Paying the minimum payments is a sure way to stay in the debt cycle. the concept that I am about to teach you is a technique called debt stacking. This process works best if you do not acquire any more debts. Credit card debts are not widely a topic people are educated on. I believe that credit card companies, financial institutions and banks have no interest in teaching you this information. One of the most common credit card rates in Middle America does not know your interest rate and fees. Credit card debts from a personal view is one of the things that hurts people the most. An example of a concept to help you with credit card debts For example here is an example of a family I helped which had a lot of credit card debts. They were paying the minimum payment for each of their debt. They were paying 220 on retail card 1, 353 on credit card 2, 551 on a car loan, 303 on credit card 1 and 1,293 on a mortgage. I told them to pay the first credit card off normally and instead of taking the first credit card money and blowing it I taught them to stack it to the next debt and so on and so forth until they were paying it all off on the mortgage. This is going to drop their credit card debts in many area significantly. So first they took the 220 after they were paying off retail card 1 and stacked it on to credit card 2. So now 220+353 is equal to 573. So right not the interest gets paid down faster. Now where do we take the 573 we stack it to the car loan so now 573+551 is equal to 1,124. You not that debt out all the way until you take 2720 and put it all towards the mortgage. Notice how the money going out the door never changes. It stays at 2720 isn't that that phenomenal. Now without debt stacking we are paying those debts off in 23 years, we saved no money in interest. They paid 214,442 dollars in interest payments and they were paying 2,720 dollars a month. Now with debt stacking they paid off those same debts in 9 years that's 14 years sooner. They saved 130,643 dollars in interest payments. They only paid 83,799 dollars and were paying 2,720 dollars a month. How amazing is it that paying the same amount of money led to very different results? With concepts like this credit card debts would be a thing of the past for people.