Let's face it, many of us have more credit card debt than we can reasonably handle or expect to pay off anytime soon. All too often, I hear the same stories of people slowly accumulating credit card debt almost obliviously until one month their bill comes and it hits them like a ton of bricks:

"This has gotten out of hand, how in the world am I going to pay this off?"

After all, the average person's income only rises moderately each year yet the cost of living seems to be going up faster than the government tells us it is (is that because none of the govenrment officials are doing their own grocery shopping these days? Just a theory.)

To add insult to injury, the credit card industry seems to have no limit to how much they are willing to lend us through credit cards. They fight tooth and nail trying to get us to sign up for just one more card with $5,000, $10,000 or even $20,000 of additional credit yet they have no idea we may already be struggling to pay off the cards we have (or maybe they just don't care).

Why is that?

I believe it is because of the 3 little secrets that credit card companies live by. These secrets have built the credit card industries business model into a high profit machine consisting of an ever increasing number of credit cards with high interest rates and lots of added fees.

The good news for you is that these same 3 secrets are what ultimately allow anyone with severe financial problems to get out of debt faster by paying only a portion of of their credit card bills using debt settlement services.

Secret #1 - Their business feeds off of our overwhelming desire to do what's expected of us
They know that many of us cannot resist spending more than we can afford. They also know that most of us are honest by nature and although it may be a struggle, will successfully pay off all of our debts including the exhorbitant rates and fees they charge. Due to the fact that they make so much money from the majority of their customers, they are able to absorb losses from the minority who negotiate debt reductions through debt settlement services.

Secret #2 - They expect and anticipate that many people will not be able to pay back what they owe
They employ entire departments of people just to handle the cases where people cannot repay everything they owe. Part of the job of the people within those departments is to work with the debt settlement companies who seek to negotiate their client's debt down.

Secret #3 - They prefer to reduce what you owe them because fighting you for the whole amount is too expensive
Credit card debt is unsecured so unlike your mortgage, they cannot take anything from you if you do not repay them. All they can do is sue you which costs a lot of money once you consider how many thousands of lawsuits they would need to file everytime someone had trouble repaying them. Credit card companies do sue some individuals for repayment but often it is easier for them to accept a settlement negotiated by a debt settlement company on your behalf than it is for them to reach a settlement with you through the court system.

So as you can see, credit card companies have chosen to accept losses from some of their customers as a small cost of doing business in an otherwise extremely profitable business.