Your Monthly Credit Card Debt Payments; What Happens If You Cannot Make Them?

By: Matthew Highlander


Are you worried about the future likelihood of not being able to pay your 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?
Has bankruptcy crossed your mind?
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 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 plan for bad debt and understand a small percentage of consumers simply cannot pay for whatever reason. But to credit card debt collectors, according to the Credit Card Debt Survival Guide, there are two kinds of credit card debtors; the small number who resist debt collection efforts and the majority who do not, or do so ineptly out of ignorance.
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.
With a knowledge of the Fair Debt Collection Practices Act and its use, a grasp of your state's consumer protection laws and, if needed, your local court's rules of civil procedure, you can begin defeating credit card debt collectors.

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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.

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