Credit card debts are a pain for everyone.
People usually develop them by using the credit cards without thinking that it is a type of unsecured loan and should be used carefully.
When people develop credit card debts, they have to pay it back within a certain time, failing which they need to pay heavy interest on principle amount.
As the time goes by, the interest keeps accumulating and the credit card debts seem like a never ending liability on a cardholder.
To take the advantage of such people, many companies advertize and claim that they can wipe out anyone's credit card debt totally.
Before you trust these companies, let us understand about this whole process.
If you notice any Ad of such companies, they claim to follow a certain procedure.
First, these companies try to familiarize one with the process of credit card agreement.
They claim that when you are granted a credit card, your bank acts as a co-signer.
So, no matter how many times a bank sends a debt collector to you, the bank can never take a legal action against you if you do not pay your bills.
Next, they claim is that they know certain hidden laws that will protect you from any legal activities by the bank.
They say that they know certain loopholes in this whole process and after revealing of which, you need not pay even a single penny to the bank, however, in the end, they will not like to commit anything.
All they will ask you is to buy some of their programs, which supposedly consists of hidden secrets and work of their research.
The problem with this theory is that there are many loopholes in it.
First, if anyone could wipe out his debt so easily by just buying some program, probably, no one would have ever paid to banks.
Why do you think a bank will grant a credit card to someone that acts as an unsecured loan? The banks pay millions of rupees to great lawyers and qualified professionals to design their legal policies for any sort of activities.
So, the matter of the fact is, "Stop thinking banks as fools and if you can cheat them!" I would like to mention that even if, in your view, a certain policy may exist, a good lawyer will surely know about it.
It will be a good idea to consult a legal practitioner first before you do something illogical based on what an agency claims.
The worst part in this while scenario is that such agencies sell their product online only.
So, when they do not make any commitment, they sound less credible.
It will be good to educate yourself with the whole process before you trust any of such companies.
It will be a really good idea to take an online reference about legal processes.
People usually develop them by using the credit cards without thinking that it is a type of unsecured loan and should be used carefully.
When people develop credit card debts, they have to pay it back within a certain time, failing which they need to pay heavy interest on principle amount.
As the time goes by, the interest keeps accumulating and the credit card debts seem like a never ending liability on a cardholder.
To take the advantage of such people, many companies advertize and claim that they can wipe out anyone's credit card debt totally.
Before you trust these companies, let us understand about this whole process.
If you notice any Ad of such companies, they claim to follow a certain procedure.
First, these companies try to familiarize one with the process of credit card agreement.
They claim that when you are granted a credit card, your bank acts as a co-signer.
So, no matter how many times a bank sends a debt collector to you, the bank can never take a legal action against you if you do not pay your bills.
Next, they claim is that they know certain hidden laws that will protect you from any legal activities by the bank.
They say that they know certain loopholes in this whole process and after revealing of which, you need not pay even a single penny to the bank, however, in the end, they will not like to commit anything.
All they will ask you is to buy some of their programs, which supposedly consists of hidden secrets and work of their research.
The problem with this theory is that there are many loopholes in it.
First, if anyone could wipe out his debt so easily by just buying some program, probably, no one would have ever paid to banks.
Why do you think a bank will grant a credit card to someone that acts as an unsecured loan? The banks pay millions of rupees to great lawyers and qualified professionals to design their legal policies for any sort of activities.
So, the matter of the fact is, "Stop thinking banks as fools and if you can cheat them!" I would like to mention that even if, in your view, a certain policy may exist, a good lawyer will surely know about it.
It will be a good idea to consult a legal practitioner first before you do something illogical based on what an agency claims.
The worst part in this while scenario is that such agencies sell their product online only.
So, when they do not make any commitment, they sound less credible.
It will be good to educate yourself with the whole process before you trust any of such companies.
It will be a really good idea to take an online reference about legal processes.
SHARE
