Household Credit Card Debt Pointing to Rough Road Ahead Leads NationalDebtRelief.com To Launch Book "Debt Relief Success" With Free Giveaway Day On Amazon

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As American households continue to struggle with increased credit card debt, National Debt Relief publishes Debt Relief Success book to help wade through the many options available. Free downloads available for 24 hours on Amazon on November 20th, 2012.

NationalDebtRelief.com

NationalDebtRelief.com

To help get copies into as many American consumers' hands as possible, the company is giving away free downloads on Amazon on November 20th, 2012. This free debt relief book giveaway is available for 24 hours only.

Despite incremental improvements in the country's overall economic outlook, recently-released statistics suggest that household credit card debt remains a major impediment to growth. Credit card debt has actually increased over the past year. This suggests a bumpy road ahead for the nation's collective finances.

A recent Consumer Federation of America report shows that most households failed to pay down their debts during the recent recession. It finds that the typical American family now carries over $100,000 in total debt.

About 85 percent of this debt can be tied to home loans and mortgages. The remaining 15 percent is comprised of consumer debts like credit card bills.

According to NerdWallet, an online accounting and statistics firm, the average household carries over $15,000 in total unsecured debts. Over half of this amount takes the form of high-interest credit card balances.

Most credit card issuers charge double-digit rates of interest on outstanding balances. Consumers who fail to pay off their charges in full each month are often subject to interest rates of 15 to 25 percent.

Consumers who make late payments or fail to meet the required minimum monthly payments on their cards may be subject to even higher rates of interest. The "penalty rate" on many cards exceeds 25 percent.

Consumers who carry large credit card balances may lose thousands of dollars per year to these high interest charges. An individual who pays 25 percent interest on a $5,000 credit card balance hands over $1,000 to his or her credit card issuer every 12 months.

According to NerdWallet, the nation's credit card debt crisis may be accelerating. Average household credit card debt figures increased by over 6 percent during the 12-month period that ended in September 2012.

Credit card debt has many negative effects. It reduces consumers' credit scores and hampers their ability to find inexpensive loans and credit cards. It may also drive borrowers to use non-traditional lenders like pawn shops, rent-to-own stores and payday lenders.

Every year, many thousands of American consumers declare bankruptcy due to their crushing credit card debt burdens. U.S. Bankruptcy Courts statistics show that there were over 1.2 million bankruptcy filings in the United States between September 2011 and September 2012.

National Debt Relief is pleased to offer its answer to the nation's ongoing credit card debt program with a new book, "Debt Relief Success: How To Use Debt Relief To Gain Financial Freedom" This new Amazon Kindle book is designed to help struggling consumers wade through the popular debt relief solutions.

To help get copies into as many American consumers' hands as possible, the company is giving away free downloads on Amazon on November 20th, 2012. This free debt relief book giveaway is available for 24 hours only.

To learn more about resolving debt problems visit NationalDebtRelief.com or call 1-888-703-4948.

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Paul Ritz
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