Paul Takhar has $50,000 in credit card debt. The California man said that since his real estate business went south, he's relied on his credit cards to survive. But lately, making payments has grown tougher because the interest rate on one of his cards has increased.
He said he tried to negotiate for a lower rate, but had no luck.
"I'm going to try to make the payments as long as I can," he said. "I'm struggling."
Takhar's experience is not unique.
Are Your Drowning in Credit Card Debt?...Full Story