If you have a credit card balance and are living worst than an indentured servant to the credit card issuer you need to know this. The effective annual interest rate on credit cards amount to 40 to 60 percent. If you were to pay the minimum balance of the credit card it would take you 130 years to pay off the alleged debt. Mind you I said alleged debt since it has been proven in the court of law that these usurers attempt to collect money without a contract. Research in Blacks law dictionary and search for the Statute of Frauds. You will find that no suit or action shall be maintained on certain classes of contracts unless there shall be a note or memorandum thereof in writing signed by the party to be charged. You never signed a contract on "old" credit card alleged debt, you may have signed an application.If you are seeking more information on this topic you can buy the Erwin Rommel School of Law  Banking Seminar. It would behoove you to know how to handle these situations prior to default.Photo credit: Jesus casting out the moneychangers by Carl Heinrich Bloch, Artist 1800's Public domain.Go to this link if you have the slightest inclination of continuing to pay the usurers. The Scourge of Usury a moral discussion.