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The Truth About Credit Card Debt Settlement – U.S. News & World Report

  • October 3, 2018
  • By: Greenpath Financial Wellness

Featuring Katie Bossler, Financial Counselor

In general, your credit card company wants its money back – all of it. Part of your agreement when using the card is that you’ll pay back all the charges you’ve made, plus any interest and fees that you accrue.

But, in some cases, credit card issuers realize that getting everything you owe simply isn’t realistic. Or that chasing you through a collections agency or lawyer to recoup the funds isn’t worth the expense.

Credit card debt is unsecured, meaning your creditors can’t take your house or car or garnish your wages without legal intervention. And creditors know if you file for bankruptcy, they might ever see a penny of repayment.

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