"Settling with Credit Card Companies- Is it Unethical?"

If you said "yes", fair enough. I can understand your view that settling with credit card companies can be unethical. However, it isn't unethical to settle your debt if you cannot afford to pay it, and the debt collectors agree to accept less than the amount owed, is it? After all, people's finances change all the time. There's no guarantee what the future may bring.

Due to the financial crisis, many debt collectors are settling for lower amounts than usual. Prior to the recession, the average settlement amount was roughly 50%. Now, the average settlement has been reduced to about 42%. This means that the average settlement repayment is only about 42 cents on the dollar.

By settling with credit card companies, you are simply paying back what you can afford. If you suddenly stopped paying your debt for no valid reason, that would be considered unethical.

Is This Unethical? You Be The Judge
A creditor extending $30,000 of credit to someone and encouraging her to make minimum payments so that the creditors can collect about $321,000 in principle, interest, fees and penalties after repayment is made in full!? creditcards.com will show you how long it takes to pay-off a credit card debt.
How Greedy Can They Get?
Is this ethical? Changing your due date without notifying you in order to charge a late fee? It happens all the time. If it's stated in your contract, they can do it. Making your payments about 10 days in advance is the only viable solution (unless you want to call customer service every other week!)

Is this ethical? Creditors, for no apparent reason, raise your interest rates to 29.99%, even if you have good credit? Imagine that. You never miss a payment and suddenly you receive a notice that informs you that your interest rate has been increased. This is happening a lot lately since President Obama signed a bill that will prohibit creditors from raising rates to ridiculous amounts.

Is this ethical? Changing your billing cycle so that your payment becomes due on a Sunday, so they can assess a late fee because they know the banks won't wire the funds on that day!

These a just a few of the many "tricks" the creditors have up their sleeve. It's unfortunate that the credit card companies are taking advantage of consumers.

Do you still feel that it's unethical to settle with your creditors?





Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.

We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.

We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.

On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.

First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.

Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!

Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.

Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.

Our services are competitively priced- and include the above free services!

Joseph Hernandez
CEO
Debt Free Solutions
www.debtfreesolutions.mobi
(800) 668-8090




It’s critical that you choose the best way to get out of debt. You need to weigh the pros and cons of each program to determine which program is best. Choosing the wrong program may cause a financial disaster!

http://nomoredebt.debtfreesolutions.mobi