House Resolution 627, also known as the Credit Card Accountability Responsibility and Disclosure Act of 2009, or CARD, provides debt help to consumers by preventing creditors from following many common predatory lending practices. Under these restrictions, vulnerable populations, such as individuals under the age of 21, may no longer get easy credit. Individuals and families currently using credit cards are given additional grace periods for payment, and many excess fees are no longer allowed.

Solutions for Revolving Debt

Credit card debt solutions begin with fair practices on the part of the creditor. Consumers working to pay down existing debt can often get caught in a trap of increasing fees, which can snowball quickly. In the past, credit card companies had the option to increase interest rates at any time, for any reason.

Increased interest rates resulted in higher balances, and higher payments. The increased payments can then result in missed payments, which allow the charge of additional fees, and perhaps even another increase in interest rates. These fees often pushed the credit balance over the card's limit, which resulted in even more fees and a feeling of hopelessness on the part of the consumer.

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