Does the possibility of not being able to pay your credit card debt concern you?
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?
Your financial problems may be the result of a job loss, a catastrophic illness, a death in the family, a failed business venture, or just the simple mismanagement of finances. Whatever the cause of your credit card debt problems, you can avoid despair and worse case thinking about court action or bankruptcy with some primary education about unsecured credit card debt.
According to the Credit Card Debt Survival Guide, it is important to understand the realities of credit card debt collection. If your account is in arrears, it is one of millions of accounts in arrears. In the last 12 months, eight percent of American adults (18 million people) have been late making a credit card payment and have missed a payment entirely, according to creditcards.com. If you account is sold to a junk debt buyer, it is one of tens of thousands or hundreds of thousands sold in a package of junk debt for ten cents on the dollar or less.
The credit card companies to 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.
The safety and security of consumers with late credit card debt is in the millions of delinquent accounts and the pennies per dollar each account is actually valued at. Should a credit card debt collector spend a lot of time fighting with a defiant consumer or just move onto one of many other consumers ready to submit? Consumer debt collection is a growing industry. If a credit card debt collection agency only succeeds with 50 percent of it's charged off accounts, it is very lucrative.
Understanding how to use the federal Fair Debt Collection Practices Act, your state's consumer protection laws and, if necessary, your local court's rules of civil procedure are the first steps to frustrating credit card debt collectors. - 29866
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?
Your financial problems may be the result of a job loss, a catastrophic illness, a death in the family, a failed business venture, or just the simple mismanagement of finances. Whatever the cause of your credit card debt problems, you can avoid despair and worse case thinking about court action or bankruptcy with some primary education about unsecured credit card debt.
According to the Credit Card Debt Survival Guide, it is important to understand the realities of credit card debt collection. If your account is in arrears, it is one of millions of accounts in arrears. In the last 12 months, eight percent of American adults (18 million people) have been late making a credit card payment and have missed a payment entirely, according to creditcards.com. If you account is sold to a junk debt buyer, it is one of tens of thousands or hundreds of thousands sold in a package of junk debt for ten cents on the dollar or less.
The credit card companies to 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.
The safety and security of consumers with late credit card debt is in the millions of delinquent accounts and the pennies per dollar each account is actually valued at. Should a credit card debt collector spend a lot of time fighting with a defiant consumer or just move onto one of many other consumers ready to submit? Consumer debt collection is a growing industry. If a credit card debt collection agency only succeeds with 50 percent of it's charged off accounts, it is very lucrative.
Understanding how to use the federal Fair Debt Collection Practices Act, your state's consumer protection laws and, if necessary, your local court's rules of civil procedure are the first steps to frustrating credit card debt collectors. - 29866
About the Author:
Matthew Highlander writes for the Credit Card Debt Survival Guide, a handbook with proven, legal non-payment and settlement strategies for consumers who cannot afford to pay their credit card debt.
