Eliminate Credit Card Debt - Find Out What Credit Card Companies Want to Keep Hidden

April 15, 2010 - PRLog -- Let me expose certain facts that credit card issuers would never want you to know. Once you go through the facts and once you find the truth, you too will realize that the credit card companies would never have wanted you to become aware of these.

For starters, it is not compulsory to repay the debts in full. This is particularly true in case of unsecured debt. Why? How? This runs contrary to all that you have been taught and programmed over the years. Well, let's just take a simple profit and loss analysis. The credit card issuer offers one dollar loan. The issuer charges interest rate around 30% to 40% p.a. on the amount.

If you hold this debt for one year, you shall be paying 40 cents to the credit card issuer. The company borrows money at 8% to 10%. Their difference amount is its profit. When you reduce the expenses, you discover that credit card issuers operate at very high profits. There are a million customers like you.

William Roberts, editor of http://www.Remove-Debt-Today.com, notes the importance of advocacy for consumers during this economic period:
“The public is experiencing a severe crisis with debt and agencies must be set up for the large amounts of people who will require assistance.”

Needless to say, card issuers will earn a lot of profit. Further, credit card companies charge administrative fees, penalties, charges and other such amount on a regular basis. All this means that the overall profit earned by the credit card company is very high.

In such a scenario, when you have been contributing to the profit of the company for years at a stretch, do you think it will be very difficult for the company to offer a $10,000 discount on your $20,000 loan? Certainly not. However, the company will behave as if every single dollar lost is a huge loss.

Secondly, the stimulus package has made life easier for credit card companies. They are not required to repay the debt borrowed from the government anytime in a hurry. Further, the interest rate charged on the debt is very low.

All this combined with the fact that they are enjoying liquidity at very low prices means that card issuers have absolutely no fear of any financial complication anymore. Don't you think you can demand your share of the stimulus package by requesting the credit card company to eliminate your debt? You certainly can.

However, the company would not want you to know this fact. If you are keen on secured debt relief but if you do not know how to proceed, just employ the services of a professional company. That should be sufficient to help you get the best relief possible.

http://www.Remove-Debt-Today.com

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If you are one of the millions of Americans who has over $10,000 in unsecured debt, it is time you found out about the debt settlement options available to you. Due to the current economy an overwhelming amount of people are in debt, creditors are having no choice but to agree to debt settlement deals.

http://www.Remove-Debt-Today.com