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Congress and the President signed into law this year, the application for personal bankruptcy a much more difficult task. At the insistence of the financial sector - particularly credit card providers and banks - the new legislation was approved and setting the stage for more stringent conditions personal bankruptcy. There is a downside to the new law, the creditor is actually hurt more than they ever expected, chuckle, please contact me, as you learn exactly what the other side.

When President Bush signed legislation, personal bankruptcy is a statement difficult to credit card providers and banks welcomed it as an important step towards reducing the number of bar Deadbeats their financial obligations by filing for personal bankruptcy. The mood, however, has rapidly evolved for the creditor as an ugly downside of the new bankruptcy law has kept his head: the people pay off their debt faster than ever before! Since we know that there is no second chance with the new law, consumers are reacting in fear and their debts paid. So, why is the creditor for the ugly? For two reasons:

1. Consumers are not using their credit cards so much so that their debt is now lower.

2. Consumers are paying off existing debts to have faster than ever seen before.

The result? Less income for the creditors, because consumers are wised. MBNA and Capital One, two big credit card providers, see their profits fall. Other vendors reported similar results. Highly dependent on your desire to debts, these companies are now that their profit margins fall heavily. In a nutshell: high consumer debt of the same large profits, low consumer debt equal low profits.

I'm sure you now with the same giggles as I am. Keep on laughing by your debts and with the purchase, what you want with cash. Oh, by the way, ignore the growing tide in your mailbox credit card solicitations: You do not want a change of mood in the financial community, right?

Matthew Keegan is the owner of a successful article writing, web design, marketing and business with headquarters in North Carolina, USA. He manages several sites including the Corporate Flight Attendant Community and the Aviation Employment Board. Please visit the Article Writer to review selections from his portfolio.