Reply #20: most of what i've seen is all about raking in profit rather than reducing debts [View All]

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they are avoiding taking on NEW debt, e.g., by lowering credit limits, especially on unused cards.

but i've not seen too many tactics to eliminate existing debts.
in fact they fought like hell the idea of raising minimum payments from typically 2% to all of 4% (or even just 3%). that would be the simplest and safest way to reduce their exposure without pushing too many people into bankruptcy. if they hated that idea, why would they go for the idea of accelerating the entire debt, i.e., making the minimum payment 100%?

it only makes sense if they're thinking of this as a very targeted tactic, not something they intend to do broadly.