Credit Card Debt Bailouts ? Why Credit Card Debt is Easier to ...

You need two things to eliminate credit card debt. Have control over your finances so that you are in a position to deposit more money to the credit card issuers. Or, get a generous deal from credit card issuers that permits you to repay only a small percentage of the amount owed in lieu of the full repayment.

For a very long time, the first option was the only viable option to overcome credit card debt. Asking the card issuer for discount was no different than asking a hungry individual to let go of the only meal that he or she was going to get in a very long time.

The card issuers fought tooth and nail for each and every cent that was due to them. There have been numerous instances where credit card companies have spent hours in negotiating on 1%-2% discount on the total interest owed. So much so that you begin to wonder whether these service providers live in the real world are not.

The card issuers have always followed a simple rule. If you have borrowed, then you will have to pay. They were not prepared to listen to any excuse or any justification why you should be given a better deal.

At best, you could threaten them with bankruptcy and they did not bother whether you survived in your financial life or not. Needless to say, this made it very difficult for the average individual to eliminate debt. So what has changed? For starters, the customer has suddenly become a very important person for the credit card company. Due to the recession, demand for goods and services has hit rock bottom.

Since the average American businessman and the individual use cards to finance all their expenses, a reduction in demand has hit the business that credit card issuers enjoyed. Needless to say, they now find the necessity to encourage their card issuers to utilize the credit cards and incur more credit.

Cards have become uncool and it has to be made cool again. What better way than giving an exemption and allowing people to eliminate their debt without repaying it in full? That is the logic that card companies are following.

Hence, you must realize that the generous discount offered by the card issuers is not based on any sense of duty or morality. Rather, it is plain and simple business for the card issuers.

If you are over $10k in unsecured debt it would be financially prudent for you to consider a debt settlement. There are organizations that exist called ?Free Debt Relief Networks? that are a great place to start in locating legitimate debt settlement companies in your region. They provide free debt help and know where to locate the top performing debt settlement firms. To get free debt help check out the link below:
Free Debt Advice
contact us for free debt advice = 8884442820

About the Author

legitimatedebtsettlement.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.

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