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.

Bankruptcy is overkill for credit card debt and it is personally a difficult experience. Bankruptcy stays on a credit report for 10 years, while an unpaid credit card debt can only remain there for a maximum of seven. The stigma of bankruptcy follows you for life every time you have to answer a job or credit application’s question, Have you ever been through bankruptcy?

According to the Credit Card Debt Survival Guide, debt collectors and collection attorneys have difficulty documenting credit card debt, particularly if they represent a junk debt buyer to whom the debt has been sold. According to the guide, a credit card debt lawsuit can be avoided. What is required is the proper written communication to the debt collector or collection attorney.

“This claim, or this attempt to collect a debt, has not been reviewed by an attorney.” Just like notices from collection attorneys send notices that are the same as debt collector notices. In fact collection attorneys are considered debt collectors by the Fair Debt Collection Practices Act. The appropriate written communications with a collection attorney will motivate him to spend his time elsewhere, just like it will a debt collector.

Consumers should revise their thinking about bankruptcy when it comes to credit card debt. The selective informal bankruptcy with non-payment of credit card debt is the effective debt solution to consider.

Matt Highlander is a consumer who has researched credit counseling, debt settlement, debt collectors and collection attorneys. If you want to Eliminate credit card debt, read the Credit Card Debt Survival Guide. Matt Highlander is a contributing writer. Www.credit-card-debt-survival.com

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