subject: Erase Bad Debt - Why Credit Card Debt Settlements Are Expected To Increase [print this page] Erase Bad Debt - Why Credit Card Debt Settlements Are Expected To Increase
There are several reasons why it can be said that debt settlements are expected to increase. The consumers are facing huge problem with their credit card bill and it is the ripe time to erase bad debt. The reasons why the plastic money loan settlements are expected to increase are explained below:
With the new bankruptcy laws in effect, the consumers are actually finding it difficult to file for bankruptcy and hence, they are looking for alternatives which can help them to eliminate their dues by a certain percentage. The best and the only method capable of doing this for the consumers is the method of settlement.
Settlement ensures that the consumers do not lose their credit score. With bankruptcy, the creditors actually lose their credit score. Thus, people are opting for settlement and hence, the settlement deals are expected to increase.
The new government policies are in place which are helping the consumers to cover the different forms of loss that they incur because of settlement. It is because of this fact that the creditors are also entertaining debt settlement deals and this is one reason which explains why settlement deals are expected to increase.
The new FTC law which has restricted the settlement firms from collecting fee in advance has made settlement industry a far better place than before and the consumers can trust the settlement firms. This is yet another reason why the consumers are opting for settlement deals over other relief methods.
Thus, it is the best time when the consumers must consider getting settlement deals to erase their bad debts.
Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement.
