According to an article in the Star-Telegram, Chase Bank has caved in to pressure from their customers and consumer advocacy groups and has agreed to refund $4.4 million of what some called illegal fees to 184,000 customers. In January, Chase imposed a $10 monthly fee on 184,000 customers who were holding balances on their low-interest Chase credit cards. Chase also raised the monthly minimum payment from 2 percent to 5 percent. The minimum payment requirement will remain at 5% while the monthly fee will be eliminated.

In a statement made to MSNBC , Chase said:

“There has been a small percentage of customers that have made little progress in paying down these loans and our desire is to have these loans repaid in a reasonable period of time,” said company spokeswoman Stephanie Jacobson.

Since when did credit card companies start wanting their customers to pay off their credit card balances? It sounds like Chase may be a little worried that those customers with low interest credit card balances may be at high risk of default. Unfortunately, they may be right. With the number of job losses increasing many of those who were once solidly middle-class are finding themselves without income and unable to service their credit card debt , even if it is low-interest.

In times of high unemployment, massive job losses and tightening credit, it is in the best interest of debtors to reduce or eliminate their credit card debts while they still have a job and a good income. But of course there are situations when a debtor is just simply overwhelmed by the sheer amount of debt facing them, this is when they need to consider bankruptcy. If you are a debtor who is living off of credit and are finding it impossible to dig out of debt talk to a Dallas-Fort Worth bankruptcy attorney today to find out how bankruptcy can help you discharge or repay your debt.