Banks Are Trying To Help out Struggling Customers... Sort Of

Desperate to avoid a credit card debt meltdown, banks are doing their best to keep customers afloat. What exactly the banks are doing varies. Most are trying to detect potential collection cases sooner by calling customers who have only been paying the minimum amount due. WaMu and Amex are mainly trying to work with customers and come up with payment plans, while CapOne and Citi have hired additional, more aggressive collectors.

I am very happy to see that most banks have realized that their better off giving up some of their profits to help out customers, rather than pushing everyone into bankruptcy...

To find out what Banks are using what strategy exactly click here

Source: WSJ