Wednesday’s Trends in Credit Cards & Debt

The U.S debt load, a measurement of the total amount of debt the federal government has accumulated, is now at $11,893 trillion and rising closer to the self-imposed $12,104 trillion ceiling limit imposed by Congress. The interest on that alone could cost the country $4.8 trillion between 2010 and 2019! What happens after that, you might ask? The limit will soon be raised, and lawmakers are working on putting together a bipartisan commission to push Congress to make more decision-forcing actions to inch the huge national debt downward.

Should you take a page from Uncle Sam’s book in being that aggressive and gung-ho when it comes to dealing with debt? Read on for more updates on the battle against your personal debt, plus credit card news this week.

Credit Card News

• Newsweek puts it to the test: Credit card company or loan shark? Find out if consumers are being overcharged.
• Can you believe it? Free Money Finance can’t either– now even god takes credit cards.
• Mark your calenders for the top 10 consumer credit events of 2009 from The Wisdom Journal.
• You might have suspected it, but The Business Insider says its true– 10 ways credit card companies are still screwing you.
• “My credit card raised my interest rate! Here’s what to do,” a lesson learned from Money Under 30.

Debt News

• You can handle debt issues better than agencies MSNBC tells consumers.
• Chip away at your debt with some not-so-common-sense money saving tips from Being Frugal.
• Beware of ‘debt-relief’ offers warns The Wall Street Journal.
• More ways to save money to pay off debt with Bible Money Matter’s great big list of 75 budgeting tools.
• How to sue debt collectors blogs Bargaineering.
• Tired of the dealing with debt the same way? Check out The Digerati Life’s DIY Debt Management Plan: GO On Oprah’ Debt Diet!