Why are credit card companies not filing bankruptcy?
What would have happened if you would not have paid your credit card bill six months back? Credit card companies would not have been very patient and they would have taken sever steps against you. At that time, they had government permissions to push customers to the limit of bankruptcy. Presently, it is not possible to do so. Banks are on the verge of a shutting down businesses. They do not have the finances available to fight legal cases. According to government instructions, customers have to be awarded the maximum flexibility in terms of making payments. Credit card companies are prohibited from taking severe steps against the customers as this would put the economic condition into further jeopardy. Firms dealing in debt settlements will never encourage you to file personal bankruptcy. If you file personal bankruptcy, you get rid of all your payables for free. On the other hand, you will be paying a heavy sum to the relief firms to get the same results. Hence relief firms encourage
