Lenders Settling Debt on Credit Cards with Consumers

Settling Debt
A new study is showing that many lending companies are settling debts on delinquent credit cards. As a new way of mitigating losses, many credit card companies are settling cards for notably less than the total amounts owed. Edward McClelland, a writer in Chicago, is a consumer who had [...]

More creditors are agreeing to settlements on credit card debt before law changes make their rates illegal. (Photo: picasaweb.google.com)