Over 80% of college students carry a credit card, and the creditors make it very easy for them to get one. Why? Because they know a majority of these students will default on their repayment obligations and their parents will bail them out.
Defaulting on credit card debt can be handled by a qualified debt settlement attorney. A qualified debt settlement attorney can work with the creditors for a large reduction in the principal balance owed. If you have a child with significant credit card debt, contact a qualified debt settlement attorney before bailing them out. The savings can be significant!