GROTON, Vt., May 5, 2009 — Last Thursday, by a vote of 357-70, the U.S. House of Representatives passed a bill known as the Credit Card Holders' Bill of Rights. If it becomes law, the bill will prohibit credit card companies from giving credit cards to minors and eliminate sudden interest rate hikes and double-cycle billing.
The news was encouraging to consumer advocates and financial analysts like Gene Jolley, founder of Kingdom Financial Principles, LLC (KFP, http://www.solongbills.com, http://www.rapiddebtreducer.com). Even before he developed the Rapid Debt Reducer(TM) software in 2002, Jolley was warning consumers against signing away their futures to credit card companies — and now, he says, lawmakers are finally doing something about the lending practices that keep consumers trapped in the cycle of debt.
"I am heartened to see the Credit Card Holders' Bill of Rights pass by such a wide margin in the House," Jolley stated. "It is a step toward protecting people from falling victim to the credit trap. I commend our lawmakers on taking a stand against the large companies that have for too long profited from people's financial difficulties."
Although Jolley advises consumers against using credit cards in the first place, he hopes to see more people paying off their debts and saving their money through legitimate debt-reduction programs like the Rapid Debt Reducer — especially in today's economy. In contrast to other debt reduction or debt elimination solutions, Rapid Debt Reducer is actually available for free download from SoLongBills.com.
The software lives up to its name: Those who are committed to following the program can pay off all their debt in as little as five years, without any added financial burden. Rapid Debt Reducer is not debt consolidation or debt settlement. Instead, the program helps users identify unnecessary spending and gives them personalized plans for eliminating debt. Designed around debt-stacking principles, Rapid Debt Reducer also calculates a user's exact debt-free date, offers budgeting and mortgage payment acceleration help, and provides easy-to-understand reports on the user's savings and wealth-building activity.
"In Rapid Debt Reducer, we have created a comprehensive solution to the problem of debt," Jolley explained. "From teaching the user basic financial principles to providing a step-by-step plan to eliminating debt, Rapid Debt Reducer provides powerful tools for consumers who have for so long tried to repay debt to credit card companies that raise their interest rates at the drop of a hat. Thanks to the Credit Card Holders' Bill of Rights and Rapid Debt Reducer, Americans can have real hope of actually getting out of debt and enjoying fuller, more enriching lives."
Those interested in learning more can visit http://www.solongbills.com and http://www.rapiddebtreducer.com to read client testimonials, view Rapid Debt Reducer features and download the software. To stay up-to-date on all KFP news, bookmark the company's Online eNewsroom(TM): http://www.pressreleaseheadlines.com/author/kingdom-financial-principles-llc.
Contact:
Gene Jolley
Kingdom Financial Principles, LLC
877-584-0536
Email
http://www.solongbills.com
http://www.rapiddebtreducer.com
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