The problem for the consumer with credit card debt is it gets charged off and sold to a junk debt buyer six months to a year after payments have stopped. Some consumers may be forced to stop paying their credit card debt because of temporary low income. But, once they are able to pay again, the damage could already be done. Their credit is ruined, and the debt collectors are calling. The balance has been grossly inflated by interest, penalties, commissions and fees. At that point the best credit card debt solution is to eliminate it by continuing to not pay it, or to file for bankruptcy.

In addition to being a difficult experience to handle and to the 10-year presence on a consumers credit report, a consumer could qualify for Chapter 13 and be forced into payment plans for five years to many unsecured creditors including the junk debt buyers who own their inflated credit card balances.

According to the Credit Card Debt Survival Guide, the proper written communications in keeping with the Fair Debt Collection Practices Act to a debt collector’s or collection attorney’s initial demand for payment can signal the collectors that this consumer is educated in these collection matters and knows his or her rights and is therefore not a good candidate to continue to pursue with court action.

While debt collectors can threaten a lawsuit and notices on collection attorneys’ letterheads can be unnerving, any consumer who bothers to educate himself about credit card debt collection can motivate debt collectors and collection attorneys to focus their energies elsewhere. It is all about documentation; how a consumer responds in writing to collection attempts and what original creditor documents the collection attorney has to pursue someone with (usually none, or just a few copies of old statements).

Typically there is no signed contract between the bank and rhe credit card holder. Those signed charge slips are for the merchant’s benefit, not the bank. Consumers should think about documentation, and be willing to put up a fight, before considering bankruptcy.

Matt Highlander spent months researching strategies to Eliminate credit card debt. Read the complete 230-page Credit Card Debt Survival Guide Www.credit-card-debt-survival.com

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