Credit Card Companies Are Ready to Settle With You
Debt Solutions
- Posted:
2/12/2009
If you cannot afford the minimum payments on your credit cards and collectors are ringing your phone off the hook, you need help now!
You cannot afford an expensive multi-year “pie in the sky” settlement plan that you will not complete. These plans damage your credit, expose you to bill collectors, and increase your risk of being sued for non-payment.
A January 3, 2009 New York Times article entitled
Credit Card Companies Willing to Deal Over Debt read:
“…lenders and their collectors are rushing to round up what money they can before things get worse, even if that means forgiving part of some borrower’s debts. Increasingly, they are stretching out payments and accepting dimes, if not pennies, on the dollar as payment in full.”The major credit card issuers, Bank of America, J.P. Morgan Chase, and Citigroup, are the same troubled banks that are being bailed out by taxpayers today. Their bill collectors may demand full payment, but the banks are ready to negotiate with their customers: reduced balances, affordable payment plans, cancellation of late fees and penalties, and reduced annual percentage rates (APR).
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