New credit card reform starts today

22 Feb 2010, by Benjamin Luftman in Bankruptcy, Consumer Law, Misc, News

The new credit card law goes into effect today in hopes that borrowers will not get in too deep with outrageous fees and booming interest rates, although it may have hurt some consumers in the process.

According to The Associated Press in the following two articles, the new credit card reform has worked against borrowers in the past nine months but will hopefully help borrowers in the near future. From the time that the new bill was signed by the president to the time it was placed into effect, credit card companies have skyrocketed their interest rates making it hard for credit card users to pay back their full balance.

Please read the articles below to get a better understanding of the new credit card reform bill. If you have been a victim of the high interest rates and became overwhelmed with debt, call the offices of Luftman, Heck & Associates to schedule a free consultation to talk about your options. You can reach us at (614) 224-1500 or toll free at (877) 700-8484.

What you need to know about the credit card reform

Mixed blessing: credit card reform may shock some