Debt settlement makes a lot of sense. If you settle your debts, you will have extra cash in your hand. You will be in a position to plan and manage your finances better. You will find yourself in a position to prepare and manage for emergencies and contingencies a lot better. Do you think I am explaining the benefits of a debt settlement for borrowers? No.
I am explaining the benefits of settlement of debt for creditors and credit card issuers. Surprised? How can a 50% discount help improve the finances of the credit card issuers? Well, when you have 100 customers and when 80 of them are not repaying their debts on time, is it not obvious that you will find it very difficult to manage your finances.
Now, if you choose 40 customers who are in a very bad condition and if you offer a 50% discount and if you secure 50% repayment, don't you think your chances of improving your financial condition just becomes higher? This is exactly the logic that credit card issuers are following.
They have now realized that simply intimidating and bulldozing their way is not going to work. It may help them secure the minimum payment for 3-4 months. However, all it takes is one crisis and the credit card holder will simply default.
In such a scenario, a solution which provides a 50% to 60% discount but secures a 40% to 50% repayment is much preferable one. There is another reason why settlement has become the best solution for the credit card issuers. The stimulus package. A government by the people and for the people is not going to sit idle as millions of individuals file for bankruptcy.
The credit card issuers realized that and they started offering settlement instead of pushing people into bankruptcy. This strengthens their case for the stimulus package. Of course, there is nothing formal and definite.
However, the general perception is that the government largess will continue as long as the credit card issuers adopt a lenient approach towards the holders. Once the stimulus package is withdrawn, you will find the card issuers reverting back to their original position.
The smart option is to make use of this fantastic debt solution as a quickly as possible. If you settle your debt today, you will be doing a favor to your credit card issuers and upon your finances.
If you are one of the millions of Americans who has over $10,000 in unsecured debt, it is time you found out about the debt settlement options available to you. Due to the current economy an overwhelming amount of people are in debt, creditors are having no choice but to agree to debt settlement deals. To get free debt help click the following link: <a target="_new" href="http://www.free-debt-relief-advice.com">Free Debt Help</a>
Visit <a href="http://www.free-debt-relief-advice.com">http://www.free-debt-relief-advice.com </a>
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment