The Credit Crunch - A Wake up Call for Consumers

john77jr · Joined: 23 Jan 2009 Posts: 1

By Attorney & Credit Repair Expert Edward Jamison

Over the last several months we've seen our economy take a severe beating. It started with the mortgage meltdown and is now seeping its way through Wall Street, the stock market and straight toward the credit card issuers. There are also signs that this trend is trickling down and now beginning to impact aspects of the consumer credit lending environment. These factors alone leave little doubt that we're facing one of the most severe economic environments since the great depression.

While financial analysts and economists continue to debate over the impact that the $700 billion bailout will have on the average American consumer, none of us really knows for sure what will happen over the next 12 to 24 months. What we do know is that lenders have already begun to tighten up their lending requirements and this means continued changes in the consumer credit environment as this crisis evolves. It also means that many Americans are facing a stern wakeup call in regards to the way we currently view and manage our credit.

Read the full article here: http://www.openafranchise.com/creditcrunch.html

.