Related: You Can't Bank on Bankers' Good Will
Credit Cards Are a Girl's Best Friend
"Credit lenders willing to deal; Card firms lower rates, waive fees" by Nancy Trejos, The Washington Post | September 11, 2009
WASHINGTON - As more Americans lose work, many are increasingly struggling to pay their credit card bills, forcing banks to do what they had been loath to do in the past: forgive some of the debt or modify it in the cardholders’ favor....
Yeah, it's called PITCHING IN, but what do they care? They ONLY MADE BILLIONS in PROFITS last quarter!
Credit card issuers are quietly negotiating with borrowers rather than giving up entirely on millions of debts.
Oh, so it is ONCE AGAIN for THEM, not YOU!
Lenders are looking to restructure credit card accounts by lowering interest rates or minimum monthly payments for a specific period of time, waiving fees, or settling the debt by accepting less than what is owed....
Yeah, this as they JACK IT UP at the same time!
Consumer advocacy groups, however, have said credit card firms have increased interest rates and cut lines of credit in the past year in anticipation of a new law limiting their practices....
Related: Banks Swipe Away Obama's Success
Also wondering where all those trillions in loan liquidity went.
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