The Truth About Credit Card Debt

The current economic crisis has meant that many Americans who are in deep debt are declaring bankruptcy at an alarming rate.  People can’t see their way out of their financial circumstances, and are collapsing under the weight of their debt as a result.  What most people don’t understand is that bankruptcy has changed greatly over the last ten years, and the consequences of bankruptcy can last for up to a decade.

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Debt Settlement Secrets Banks Don't Want You to Know

Right now is not a good time to be a banker in America, or anywhere else for that matter. Banks are hurting for cash, having borrowed far more than they can payback. Banks are like the person making $50,000 a year who bought a corvette, a million dollar home and took a European vacation not thinking about the debts being racked up. Banks are hurting for cash in a very serious way, so much so that even the billions of dollars the federal government gave out hasn’t helped all that much.

The Truth About Credit Card Debt

When it comes to debt settlement, most people are challenged in one of three areas:  credit cards, mortgages or health care bills.  Credit card companies can be underhanded, manipulative and down right dishonest.

Banks Need Your Cash

President Barak Obama and U.S. Treasury Secretary Timothy Geithner devised an economic stress test for America’s 19 largest banks.  Thankfully, each of those banks passed the stress test which measured their ability to weather the current financial storm as well as future potential problems.  However, Mr. Geithner stressed very enthusiastically that these banks need to have as much cash on hand as possible to deal with any potential challenges in the future.  What that means is your cash actually has a higher value than you think it does.  If you’re considering bankruptcy, you should call a debt settlement professional immediately to see if you can negotiate your debts rather than declare bankruptcy.

Geithner and Obama's Econ Team to Meet about Foreclosures

On Thursday, US Treasury Secretary Timothy Geithner will meet with President Barack Obama's economic team to discuss the government's




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