What is Debt
Debt Relief from the web:
Personal debt has
become an increasingly large problem in many
developed countries in recent and many people now
need debt relief. For instance, it is
estimated that the average US household has $19,000
in non-mortgage debt. With such large debt loads,
many individuals have difficulty making repayments
on debts and are in need of debt relief.
There are many
companies who offer debt relief services.
However, such services may not always be in the best
interests of the person involved and may involve
taking out a loan secured by a person's home.
Marketing materials are designed to persuade
customers to take up the company's offer rather than
offering a personal best solution for reducing debt.
Where debt has become a problem, it is often best to
turn to an independent consumer's association for
advice before calling debt relief companies
as consumer's associations often have great
experience with such problems and may be able to
advise the most effective avenues for debt relief
for the price.
As long as some form of
Chapter 7 bankruptcy debt relief exists
within American law, the credit card companies must
pay attention, and do as much as they can to help
their clients repay debts through relatively
traditional means (depending upon the service those
clients have entered). Even leaving bankruptcy
aside, it is in the best interest of credit card
companies that their debtors at least feel some
motivation to continue repaying their accounts and
not simply disappear or view those ever growing
balances as untouchable.