I have been ripped off by a credit card system & I need to know which AGENCY is a watch dog for credit card abuse of consumers. I paid off a defaulted credit card debt of $50,867 in 2007 the credit card co. accepted $26,000 as a settlement for full & final payment. At the end of the year they sent me a 1099 showing a debt discharge of $60,268 to add to my income tax filing, when I inquired they told me once you default on a credit card they raise the interest to 29% + a monthly fee of $78 this give them a much higher debt loss reimbursement from the their insurance company. The bank WINS-BIG TIME, the IRS WINS- BIG TIME & the DEBTER get the screw job owing more then the original debt. Who can help me find a consumer agency that will help me do battle with the bank-â??BANK OF AMERICA â?? NEED SOME HELP TO A SMALL CONSUMER UNDER WATER FROM DEBT JK