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Credit Cards Cut Deadbeats More Slack

With unemployment rising, companies modify, reduce debt

By Kevin Spak, Newser Staff

Posted Sep 10, 2009 9:15 AM CDT

(Newser) – With unemployment nearing 10%, credit card companies are doing something once unheard of: forgiving debt, or modifying it in the customer’s favor, the Washington Post reports. Companies are loathe to discuss the practice, lest it inspire more delinquencies, but according to one industry report,... Read full story »

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Credit Cards Cut Deadbeats More Slack

With unemployment rising, companies modify, reduce debt

unemployment • credit card • interest rate • consumer debt • financial crisis • loan modification

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