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Credit Card Companies Cut Deals
Posted By admin On June 16, 2009 @ 5:59 pm In Bankruptcy & Debt Relief | Comments Disabled
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.
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