Behm Law Group, Bankruptcy Attorneys

Considering bankruptcy in Minnesota? Behm Law can help.

Commercials for big credit card companies make it look and sound like their only intent is provide you with an easy alternative to cash or checks to help all your “wants and needs” come true. The commercials show happy people buying bag-loads of goods at high-end stores, retiring to a beach-front home, or treating friends to an expensive dinner at a pricey restaurant. But are they really on your side? Are they really there to help you make your dreams come true? A look at their net incomes give you a glimpse of what they’re really out to do, and who truly benefits from their services.

One recognizable company, Capital One, which gets half of its income from credit cards, reported a $1.1 billion net income for third quarter, 2013. Think about that—$1.1 billion in one quarter. The biggest credit-card issuer, American Express, reported a $1.37 billion net income for third quarter, 2013. Wells Fargo, the largest U.S. home lender, reported a third quarter net income of $5.58 billion. One thing is certain; these companies can’t achieve net incomes in the billions of dollars each quarter by giving money away. They make their exorbitant profits by charging high interest rate
s, massive late fees, and ridiculous overdraft fees. In other words, they lure you with friendly promises of luxury and convenience, and then snag you with highly predatory interest rates and insurmountable fees and penalties.

Credit card companies love to advertise “easy, affordable” credit. But, when times get tough and you’re financially struggling, they can make resolving your financial hardships unbearable and hopelessly unaffordable. Have you been entrapped by the large credit card companies? Is your income being sapped by high-interest payments? Are you over your head in debt? If so, do everything you can to get out of their snare. Your financial future depends on it. But if you are in so much financial trouble you cannot escape on your own, bankruptcy might be your only option. To see if bankruptcy is the right solution for you, call the personal bankruptcy attorneys at Behm Law Group Ltd. Unlike the big credit card companies, we really are there for you.