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Does Debt Settlement Mean Never Having a Credit Card Again?

Settling your credit card debt for a fraction of what you owe is great news indeed. But even so, people still consider this as some sort of bad news. Many people are concerned that if they settle their credit card debts, they will never qualify for another credit card in the future. This presumption is not true at all. It’s just a common misconception.

The truth is, there is a high chance that companies will extend you a credit card in the future despite the fact that you have negotiated and settled your previous debts for a fraction of what you owe. In fact, even the company with whom you have previously settled a debt will likely give you another chance. Come to think of it. These companies will still make money from you anyway in the form of fees and interests that will accrue in the future. As this article points out, you don’t even need to be human to get a credit card offer these days.

Fido can charge up those dog biscuits at his favorite neighborhood doggie bakery. So, never fear, credit card companies will extend you a credit card, and sometimes, even during the workout process.  Hey, Fido got a new card, so can you!

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Kevin Fallon McCarthy is the McCarthy Law PLC’s managing attorney and an experienced Phoenix debt attorney. Mr. McCarthy has also worked as general counsel for a large corporation. He has corporate counsel experience in human resource matters, general corporate governance, and union class action litigation.