Case Files: #4811

When Client #4811 came into Chang & Diamond, APC we saw an intelligent woman in her early 30's. During her consultation she told a story that is very familiar to us. Like most college students, she was bombarded with credit cards the moment she stepped foot on her college campus. With all of this available credit and no training on the importance of using credit wisely, #4811 quickly found her self WAY OVER HER HEAD IN DEBT. Many people who find themselves in the situation learn quickly to transfer balances to keep the mountains of debt from falling in on them. #4811 was a self proclaimed master at transferring to avoid disaster. Until she just couldn't do it anymore and contacted Chang & Diamond.

It seems that the reason that a credit card company will allow a person with mountains of debt to transfer to that debt to them is that these companies make millions of dollars every year off of the huge interest rates on credit cards. They make so much money from the interest rates and fees on consumer debt that they are practically untouched by any defaults (from bankruptcy, writeoff's or otherwise).

There is an amazing documentary called Maxed Out which explores the many aspects of consumer debt. A part of this documentary discusses how these credit card company predators get to our nations college students in the first place. From the synopsis: "FirstUSA also pioneered "partnerships" with colleges—paying them millions of dollars for access to their students' personal information, setting these kids up for ruin." They also hire high school and college kids to act as walking advertisements for the credit cards to make having credit cards "look cool".

#4811 fell prey to the credit card traps and had been living with the consequences since college. Many years and thousands of dollars later she finally said "ENOUGH!" She came to Chang & Diamond for her free consultation and talked about the enormous wave of relief that washed over her when she realized that she would finally be able to get out of the situation she had gotten herself in as a youth and had been unable to shake free of for over a decade.

We are thrilled to announce that #4811 has begun to rebuild her credit with a secured line of credit. She has even begun to save for retirement!

Call us at 619-233-6300 or come in today for your free consultation. We would love to open your eyes to all the options that you have to get out of debt.