Are you anxious about the prospect of not being able to pay that credit card debt?
Are you having trouble paying your bills? Is your credit card debt piling up with increased interests rates and late fees? Have your minimum payments been increased?
Have you thought about bankruptcy? How else can you eliminate credit card debt?
Joblessness, a major health crisis, a failed enterprise, a family death, or financial mismanagement could have cleaned out your savings. Whatever the reason is for your credit card debt problems, you can escape the negative assumptions and harsh thinking about bankruptcy or impatient, aggressive debt collectors with some basic education about unsecured credit card debt.
According to creditcards.com, in the last 12 months 18 million people (eight percent of American adults) missed a credit card payment. If your account is is unpaid, then it is one of millions. That is one of many truths consumers with late credit card debt need to learn about credit card debt collection, according to the Credit Card Debt Survival Guide. Another truth is a junk debt buyer could buy your charged off overdue account with tens or hundreds of thousands of other accounts in a package of junk debt for ten cents or less on the dollar.
The credit card companies must budget for bad debt per Federal Reserve regulations. Their planning assumes a certain percentage of consumers will not pay their credit card debt. Then, the credit card debt collectors who end up with those debts assume there are two kinds of consumers; those who do not resist their collection efforts or do so ineffectually and those few who do resist and know how toeliminate credit card debt.
Your safety and security are in the numbers, in the millions of charged-off accounts and in the pennies per dollar each is actually worth. If you resist debt collection attempts (after you learn how to properly do so), it is simply not profitable for a debt collector to put more time into chasing you, when they can put that time in getting the easy returns from the many other people who put up no resistance. Credit card debt collectors can make a lot of money, if they only collect from 50 percent of the delinquent accounts assigned to them.
An understanding of the Fair Debt Collection Practices Act, your state's consumer protection laws and, if needed, your local court's rules of civil procedure will make it possible to turn away debt collectors. - 31380
Are you having trouble paying your bills? Is your credit card debt piling up with increased interests rates and late fees? Have your minimum payments been increased?
Have you thought about bankruptcy? How else can you eliminate credit card debt?
Joblessness, a major health crisis, a failed enterprise, a family death, or financial mismanagement could have cleaned out your savings. Whatever the reason is for your credit card debt problems, you can escape the negative assumptions and harsh thinking about bankruptcy or impatient, aggressive debt collectors with some basic education about unsecured credit card debt.
According to creditcards.com, in the last 12 months 18 million people (eight percent of American adults) missed a credit card payment. If your account is is unpaid, then it is one of millions. That is one of many truths consumers with late credit card debt need to learn about credit card debt collection, according to the Credit Card Debt Survival Guide. Another truth is a junk debt buyer could buy your charged off overdue account with tens or hundreds of thousands of other accounts in a package of junk debt for ten cents or less on the dollar.
The credit card companies must budget for bad debt per Federal Reserve regulations. Their planning assumes a certain percentage of consumers will not pay their credit card debt. Then, the credit card debt collectors who end up with those debts assume there are two kinds of consumers; those who do not resist their collection efforts or do so ineffectually and those few who do resist and know how toeliminate credit card debt.
Your safety and security are in the numbers, in the millions of charged-off accounts and in the pennies per dollar each is actually worth. If you resist debt collection attempts (after you learn how to properly do so), it is simply not profitable for a debt collector to put more time into chasing you, when they can put that time in getting the easy returns from the many other people who put up no resistance. Credit card debt collectors can make a lot of money, if they only collect from 50 percent of the delinquent accounts assigned to them.
An understanding of the Fair Debt Collection Practices Act, your state's consumer protection laws and, if needed, your local court's rules of civil procedure will make it possible to turn away debt collectors. - 31380
About the Author:
Matt Highlander spent months researching strategies to eliminate credit card debt. Read the complete 230-page Credit Card Debt Survival Guide www.credit-card-debt-survival.com
