Credit Card Debt Advice How To Get Out Of Debt Fast Read This If You Owe More Than 10K

Few things in life produce stress and strain relationships like credit card debt. If you are reading this, then you probably know the feeling: creditors harassing you day and night with threatening calls to your home and office. You have nightmares thinking how you are going to be able to make ends meet and still make minimum payments that do not reduce the amount of money you owe and all your efforts seem like a waste of time and money. When you reach a point where you owe $10,000 or more, it is time to seek credit card debt advice and find options that will help you with credit card debt collection and avoid bankruptcy.

People who are in a lot of debt, have used debt consolidation and debt settlement companies to help them negotiate a repayment plan with their creditors. This usually means a reduction of up to 50 per cent of the amount you owe your creditors. These credit card elimination programs will help you make one monthly payment that you can afford and be debt free in 12 to 36 months.

Your creditors would be glad to work with you because in the end, they prefer that you pay at least a portion of your debt instead of giving you no options and forcing you to file bankruptcy. In which case they get no money at all.

There are many ways that you can get credit card debt help. One of them is getting help from a debt settlement company. They have helped thousands of people negotiate and eventually eliminate all their debts fast.

Click Here Now To register for a FREE Debt Consultation. You can Get Out Of Debt Fast. This program has helped thousands to be debt free in 12-36 months and eliminate 50% of what you owe.

If a major credit card sells your debt to a debt collection agency.. does the agency have a right to sue?

My understanding is no they cannot because the contract is with the credit card company and not the debt collection agency..?

My friend called me today (because I used to work for a finance company) asking me this question and I know from my old works stand point but we never sold off uncollected debt to those agencies so I wasn't sure what to say and now it's got me wondering..

Thanks!

Answer
sad but true. the issuer of the card charged it off and claimed it as a loss. the balance plus 6 mos. interest and fees became a tax deduction for them. then they sold the debt. balance fees and interest to a junk debt buyer for pennies on the dollar. the junk buyer tacks on his own fees and interest and attempts to collect. keep in mind any amount they get over what they paid is profit. the junk debt buyer will sue for a lot more then the debt is worth. they depend on the fact that most debtors will not show up for court and they win by default. thats how they run their buisness and make money. once they have a default judgement they can garnish wages or lein property.
one point of defense might be that you had no contract with the debt buyer and they did not provide services to you. they bought the debt and did the damage to themselves. screw them.

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