The act of borrowing and lending is timeless. Since the earliest recorded history there are examples of tribes, lords, and nations joining investments into large projects which required money be lent from one group to the other with the promise of repayment plus a fee, service, or interest. If you didn't complete the venture or repay the loan, the consequences were severe, often spurning epic battles.

Modern lending and the quandary of incredible debt loads, bad credit, and irresponsible lending began in the 1950's and 1960's with the introduction of credit cards. Originally issued to valued customers and businesses as a more efficient means of payment than writing checks, accounting was simplified by having one monthly entry and sending one payment. As restrictions on credit cards lightened, the credit industry quickly capitalized on a nation new to things like compound interest, prime rates, cash advances, and grace periods. The American family saw a means to improve their standard of living, and the credit industry saw an opportunity to make countless billions.

By the 1980's the average American household had such a high debt load that even the slightest economic change would send them into a downward spiral. Unfortunately the country experienced the worse levels of unemployment, failed businesses, and national debt since the great depression. Families and companies across the country were forced into bankruptcy. Prior to this time bankruptcy was a very rare occurrence reserved for only the most dire of situations, but by now it was commonplace and a household word.

The downturn of the 1980's bred life to a whole new industry- predatory lending, debt purchasers, and collection agencies.

Certain lending agencies began to lower the standards of credit needed to borrow while raising their interest rates to astronomical levels. Sub-prime lending, title loans, payday loans, and check- or cash-advance services raised the final cost of purchases. Put another way, by purchasing a $100 CD player with money borrowed from these institutions the final cost with interest and fees would be anywhere from $200 - $500 dollars.

As families were unable to repay their debt, companies wrote off the debt on their accounting to catch a tax break while consumers received no relief. The debt was still owed and these debts continued to be bought and sold for pennies on the dollar to debt purchasing and collection agencies.

So here we are, in the new millennium, with a new cure for the epidemic of bad credit, the cycle of overdraft and past-due fees, and the endless maze of credit repair. NCCS has been commited to helping people just like you to erase their bad credit history and start fresh on a fair playing field. Sign up today and see how simple it is to get back on the right path with NCCS by your side.