If you’re like millions of Americans, you probably have an outstanding debt on one or more of your credit cards. This is not unusual; the typical U.S. household owes approximately $10,000 in credit card debt. When this is combined with one or more auto loans and a mortgage, such a debt load can quickly become insurmountable. When that happens, bankruptcy filings become inevitable, and bankruptcy filings in the United States have been rising steadily for the past several years.

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One might think that creditors would be interested in having their customers pay off their bills and be out of debt, but that isn’t the case. In fact, banks, credit card companies and mortgage lenders want their customers in debt, and the more, the better. They’re not interested in having you pay off your bills, or in having you pursue debt consolidation, or in negotiating a settlement with you. They just want you sending money to them every month.



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