Are you unable to make good on your credit card repayments? Is the global recession wreaking havoc with your finances? You’re not the only one who’s been suffering – in fact, a record number of individuals are finding themselves unable to pay back their debt, with a large number of those consumers pursing debt management agencies and bankruptcy as a way out of their money woe. While banks were unwilling to help these financially troubled individuals, many financial institutions have discovered that there’s no pay-off in hiring collection agencies to help them get their money back – and these lenders are adopting lenient loan modification policies that put the needs of their customers first.

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