Can’t Pay Credit Card Debt? How This is Related to Occupy Wall Street

How does credit card debt relief fit into the protests against very uneven wealth distribution in this country . . . or, into the clash between traditional American values and

deep-pocket, short-term profiteers looking to the U.S. taxpayer for a bailout when things go wrong with their financial schemes?

Bank of America, Chase, Citigroup, and Capital One, all too-big-to-fail institutions, all bailed out for billions in 2008, issue over two-thirds of the credit cards used in the U.S. While they each benefited from a bailout when misfortune or poor judgment befell THEM, none of their credit card holders can hope for the same. The Credit Card Act of 2009 curtails many of the past abuses of which credit card banks are capable. Unfortunately, the banks are already finding ways around the new regulations, according to creditcards.com.

Today’s fact of life is these banks are not the friendly community banker down the street.  They are not worth suffering for.  After six months they must write off our bad debts.  They plan for those expenses.  The collection of those debts is the concern of junk debt buyers (ten cents on the dollar), their debt collectors and our conscience.

Can’t pay credit card debt?

Were you blindsided by a hike in interest rates or a reduction in credit limit? Or, did a medical catastrophe, job loss, ballooning mortgage, divorce, or just poor budgeting cause you to fall behind?

When payment is not possible, is it worth sacrificing monthly necessities for the sake of a credit card payment? Were you suckered into a debt settlement payment plan, which backfired when you could not finish the payment schedule? Did you know only 20 percent of debt management plans are completed.

As the too-big-to-fail banks well know, financial hardship can happen to anyone. The difference is banks do not have emotions, but we do. The key to credit card debt relief is getting control of those emotions.

The guilt and fear we experience with financial hardship is no better than the anger and frustration being vented in the March on Wall Street movement. Once the fear of bankruptcy or a court judgment is controlled, we can proceed with the non-payment of the credit cards we cannot afford to pay. And, we can frustrate debt collectors and collection attorneys seeking to control us with our fears.

How to get rid of credit card debt

Finding credit card debt relief is a learning experience. For my free guide CLICK – ->

11 Reasons Why You Can Survive the Non-Payment of Credit Card Debt