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Bankruptcy Help Gold Coast, Stop Creditors Calling, Stop Credit Card Debt

Did you know that you may not need be liable for credit card debt? Many credit card companies provide you with an initial credit card limit then they continue to offer you increases in the limit initially applied for.

So what happens next income the monthly statements and the minimum monthly payment just covers the interest for that month. Why do credit card companies do this? Because they want to keep you in debt at ridiculously high interest rates. Ideally all you continue to do is pay interest off month after month and the balance remains the same.

We recently spoke with an insolvency expert Mr. Nick Stone from Insolvency Professionals and he indicated that this lending practise was not only unethical it was also a moral misfit and he made it quite clear that credit card companies may be responsible for bad lending ethics and therefor might need to wipe off credit card balances or heavily reduce amounts owing.

Nick states he is still working on many case files that all relate to credit card debt in some cases in excess of $100,000.

If you have credit card debt and can no longer deal with creditors calling you up call Insolvency Professionals today on 1300 238 879.

 

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