9. I feel like I owe the debt because I made it.
This is understandable and many consumers feel morally obligated to repay their debts. Unfortunately most don’t realize that they have unknowingly become a victim of predatory lending practices. When a creditor approves someone for a credit card, they do not verify whether the consumer can actually handle the debt load.
They use
compounding interest calculations daily which greatly multiplies the
interest you owe. They charge interest rates well above what is
considered fair practice in other forms of lending.
All this means
that you the consumer pays back well over what was originally borrowed.
You have become a victim of predatory lending practices. The only way
to stop these practices is by standing up to the creditors and putting
a stop to it. Now do you still feel like you owe the debt?