If you find yourself in the situation that you are unable to pay your credit card debt balance off each month then there are steps you can take to reduce your interest charges.
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Not all credit cards are created equally. And so it makes it that much harder to decide which credit card offer to choose. There are many factors you sh.....
Debt agreements, whereby an indebted consumer who can no longer afford the repayments on their loans and credit cards enters into an agreement with creditors to pay as much as they can, have been criticised by experts.Bankruptcy trustee and liquidator Nicholas Crouch says the federal government is encouraging debtors to take out a debt agreement and pay back around 75 cents in every dollar that they owe, to keep bankruptcy statistics down.“Debt agreements simply channel bankrupts into a formal system that doesn’t help them” said Crouch. “Worse it affects bankruptcy statistics so that the government can claim bankruptcies are down, when in fact the number of people affected by debt they can’t afford is increasing.”The government should instead be preventing people from getting into debt they can’t afford said Crouch.
