2 comments on “The Black Hole of Debt

  1. That would be an extremely frustrating situation. With the high interest rates on credit cards, it is not surprising that people end up in such a situation. Most often it is caused by credit card mismanagement. I haven’t personally been in a debt black hole though. If I ever have a credit card balance that I can’t pay off, I either transfer it to my bank line of credit or to a 0% balance transfer offer.

    • Thanks for the comment. You treat credit cards how they are supposed to be used. My debt issues issues had everything to do with mismanagement. It took me a while to understand how to effectively use credit cards, now they are a great tool.

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