High Interest Rate Consumer Credit Card Debt has helped destroy the economy and peoples chances for keeping their homes.

Programs like HAMP that cause parallel foreclosure to occur would be less sought after if the banksters offered low interest rate credit card pay down debt incentive programs.

The hidden fraud within the U.S. economy is the percentage of consumer credit card debt versus consumer asset destruction that has occurred over the past several years. Just a few years ago, there were millions upon millions of credit card debtors who also had a lot of built up home equity in their homes.

If U.S. consumers recently lost 30-50% of their personal wealth, while consumer credit card debt has remained steady at just under 1 trillion, you can see that the ratio of credit card debt to personal wealth HAS GONE UP BY a significant amount in just the past few years, even though consumers have not increased their credit card debts!

So lets add it all up, employment is harder to come by, jobs pay less, less value in home, loss of value in 401K's, and higher credit card debt at predatory interest rates that cannot be easily paid down. Credit Card Debt is becoming a perpetual anchor dragging down those who are just trying to tread water.

How can HAMP work if people can't pay down their credit card debt when consumer credit card debt is now TWICE AS BIG a ratio of debt to personal wealth? How about a new kind of debt reduction credit card to help consumers pay down their credit card debt.

Introducing the AlexLOGIC consumer credit paydown card! A 2.9% interest rate on existing credit card debt. 2.5% monthly minimum payment, 40% of what you pay down each month can be used for new purchases. Your AlexLOGIC card naturally reduces its credit line each month while also crediting you back 40% of the principle that you paid off to respend if necessary.

However, the consumer cannot be running up more bills on other credit cards, that is the key, so a consumer would have to convert all of their credit card debt to an AlexLOGIC credit card and than not have any other cards.

What I just described above does not exist. But if it did exist, and millions started paying down their debt in the manner described above, I believe the economy would start to stabilize.