Business Planning & Asset Protection

Credit card companies are increasingly doing something they have historically refused to do -  cutting deals on delinquent accounts for substantially less than the amount owed, according to a recent article in the New York Times.  Historically, credit card companies might negotiate interest rates or waive penalties, but would not otherwise write off the balance due.  This is a welcome change in policy, as it makes good sense for both the company as well as the borrower.  It just might be the key to avoiding bankruptcy.

This entry was posted on Tuesday, June 16th, 2009 at 5:59 pm and is filed under Bankruptcy & Debt Relief. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.