Ignorance Of People Who Cannot Pay Credit Card Debt Is A Major Concern Reported By Mel Thompson Of Vision Publishing Inc

Mel Thompson experience of getting out of credit card debt.

Vision Publishing Inc Credit Card Debt Relief Series

(EstateNewsWire.com, July 10, 2012 ) Worcester, MA -- When people cannot afford to pay their credit card debt, they should act like a Boy Scout and be prepared, as explained in the Credit Card Debt Survival Guide. “The key to putting your credit card debt behind you is learning how to respond in writing to debt collectors and collection attorneys,” according to the Guide’s author, Mel Thompson.

“I overcame $65,000 in credit card debt I could not afford to pay by learning how to properly demand documentation from debt collectors and collection attorneys,” says Mel Thompson.

In his blog, www.credit-card-debt-relief-4u.com, Thompson explains how nonpayment of unsecured credit card debt without filing bankruptcy can work for consumers. There are numerous links to well-known publications citing the difficulties credit card banks, let alone junk debt buyers, have documenting and accounting for their bad debts.

Simply stated, says Thompson, credit card debt is unsecured debt. The banks write it off after six months of non-payment. They expect a certain percentage of people not to pay. There are many stories of consumers, who were unable to pay, trying and failing to work out a reasonable payment plan with a bank, he says. After charge off most banks sell those credit card accounts for 10 or 15 cents on the dollar. A $12 billion dollar debt collection industry has grown up around the profit in collecting these junk debts, he explains. These junk debts are usually acquired with no back-up documentation, he adds.

“Debt collectors and collection attorneys work on commission. If a savvy consumer properly demands accurate documentation, they will simply move onto the next naïve consumer to make their monthly quota,” explains Thompson. “And, if you cannot pay, then debt settlement, debt consolidation or debt management plans will not work for you” he says.

Education is the way to chase away those feelings of hopelessness and financial despair, relates Thompson. The Credit Card Debt Survival Guide is available for $27 at http://credit-card-debt-relief-4u.com.

About Vision Publishing
Mel Thompson has a degree in English at the University of Massachusetts at Amherst and an M.S. in Communications at Boston University. He has also written an ebook on credit card debt management, “A Credit Card Debt Survival Guide”.

For more information on this press release visit: http://www.sbwire.com/press-releases/vision-publishing-exclusive-interview-with-mel-thompson-about-credit-card-debt-relief-150702.htm

Vision Publishing Inc

Mel Thompson

(508) - 796 - 5101

mel@credit-card-debt-relief-4u.com

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