Credit is not leading to the downfall of America, debt is. With so many living paycheck to paycheck and often 20%, 30% or more of each paycheck going to Visa, it is no wonder that the American family is being torn apart. The financial anvil of too much debt is crushing the American spirit.

Every American needs to know how to deal with credit rating agencies, at least until he or she can become debt free. Nevertheless, the goal has to get out from the burden of debt. The bible says that "The borrower is slave to the lender." The next time you answer a call from a debt collector, it will remind you how true a statement that is. The credit rating agency is just a tool the slaver uses to evaluate how good a slave the borrower is likely to be.

The destruction these piles of debt are doing to our families is tremendous, tearing them apart with husbands hiding purchases from wives, and wives hiding purchases from husbands (financial infidelity) until the overdue bills come. It you find yourself running to the mailbox to beat your spouse to the bills then you know how horrible this cycle can be. You also know what that debt is doing to you and your family.

How can you get a grip. It is not through credit repair, which at best patches and treats the illness so it can continue to gnaw at your foundation. There must come a time when you decide to get out of debt and stay out of debt. Imagine keeping 20% more of your paycheck each time you get paid.

Also, realize that the politicians, the banks, the payday lenders, the loan companies and the credit card companies all want you in debt. Their profit comes from late fees, interest, perpetual payments, etc. I mention politicians since they have moved the laws to permit ever more aggressive lending. Just think, a college student with $30,000 of credit card debt is someone's slave for life.

For you and your family, vow to get out from under this burden. There are programs like "Financial Peace University" or "Crown Ministries" that help. Also, vote out the ones helping to legalize 20% plus interest rates. (Used to be called loan sharking.) Get rid of payday lenders who get the food money before the babies get fed. Restore bankruptcy laws, institute some sort of loan forgiveness, etc. If big business continues to debt up America, no American will be able to keep a chicken in their pot.

Learn more about this author, Keith Risman.
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