The credit card companies have very bad timing for increasing interest rates. They can increase rates, for example, from 7% to 21%. Now, a bad problem has just become worse. You would think credit card companies would reduce the interest rates to help people through these hard economic times. However, the credit card companies want to maximize their fees and interest when the average American income has been minimized. Out of desperation, people do not want to claim bankruptcy, however, they cannot pay the full balance of their debt. This is similar to beating a person when they’re down. Why should people have to pay 21% or 25% interest on their credit card debt? If you were to look at the average credit card debt, there is a real question which causes a concern with us – how much of the debt that the credit card companies are suing over is really fees and interest? This is why we’re here.

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Debt Settlement Avoids These Chapter 7 Bankruptcy Issues

• Mountains of paperwork
• Qualification requirements via a Means Test or Income Analysis
• IRS determines individuals living expenses or standard of living
• After living expenses, there can not be over $100 per month left that could be used to pay debt down
• Credit counseling is required six months prior to filing
• Stigma of bankruptcy remains on credit for 10 years
• Credit is more difficult to obtain and will cost you more
• File only once in a decade
• Matter of Public Record for all to see
• Unless State exempt, it could require you to sell your home or car
• May face creditor lender reposessions
• Not all retirement plans are protected