I was amazed to read the following statistics from Families USA about responsible individuals facing unsustainable credit card debt because of circumstances beyond their control:

“Who is Medically Bankrupt?”
60 percent: attended college
66.4 percent: owned a home
20 percent: were veterans or on active duty
80 percent: had health insurance at onset of illness
38 percent: lost income due to illness
866,000: estimated medical bankruptcies filed 2009
2.3 million: individuals in medically bankrupt families, 2009
Source: Families USA

Judgments and stereotypes about debt don’t work in this recession. People can work very hard and still experience negative circumstances from factors they had no control over (illness, unemployment, divorce, wage earner disability or death, economic downturns, foreclosures, etc. ). To add insult to injury, the credit card companies have had it all their own way with recent legislation severely curtailing the consumer’s ability to recover from bankruptcy.

The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 was anything but what it was named. This bill was a delight for the creditors and banks. It essentially ensures that anybody but the completely destitute (and large corporations) will eventually have to pay off their debt, with any increase in your financial circumstances going right to the credit institution. If there is anything to learn here, bankruptcy is just not a valid alternative any more.

Other issues to be aware of, especially when contacting your creditors, is the matter of universal default. If a credit company has any reason to believe you might have difficulty making your payments, if only that you have another credit source that reports your having repayment problems, they can and are:
1. Raising your interest rate to as much as 39 percent.
2. Raising your minimum monthly payment from 2 to 5 percent (so a monthly bill of $500 is now over $1200).
3. Capping your credit limit to the amount that you currently owe.
So be very careful when talking to creditors that you don’t give them any reason to think you are having difficulty making payments, as they will slap you down just like that.

Just so you know that not everything is doom and gloom, there is only 1 method that works – mainly because it uses the banks own legal techniques to create prompt and lasting credit debt relief for you. This strategy has been working well over the last 6 years for thousands of individuals. What else would debt relief look like except to have your harassing phone calls answered for you, your creditors given a legally crafted response to their correspondence, having an impenetrable barrier placed between you and your creditors, getting your debts resolved for as little as 10 cents on the dollar (or even nothing), and having your credit profile restored to even better than it was before the debt occurred? debt relief is possible and you must consider this alternative as you pursue true credit debt relief.

Regardless of why you are in debt or how you got there, we can help you keep your home, pay rent, feed and clothe your family, and provide adequate medical care by helping you avoid bankruptcy with this Program.

And when you are back on your feet, there’s even greater hope with various superior passive income systems that we have screened from the unverified, unproven, and falsely advertised income systems floating around the internet!

Wishing you a peaceful, abundant, and prosperous future,
ConsumersDebtHelp.com

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