Get Credit Card Debt Relief

Are you Struggling with Excessive Credit Card Debt?
You Might Be Able To Get Substantial Debt Relief Without Filing Bankruptcy.

A credit card is man-push-word-debt-d-illustration-43041117so easy to get that every adult seems to have one, with some people having many of them. The consumer is inundated daily with commercials and mailing offers about the latest and greatest card available. But unfortunately, this has led to significant challenges with debt. Some have credit card debts equivalent to a loan you’d take out on a luxury car. Making the monthly payments on these huge credit card balances can consume a significant portion of every paycheck. It is no wonder people wind up in financial distress.

This website is designed to help those who have large credit card debts by helping them get debt relief advice and assistance from professional debt settlement companies. If you are struggling with significant credit card debt, and can’t work out a repayment plan with your creditors on your own, consider contacting a debt relief service, like credit counseling or debt settlement. Depending on the type of service, you might get advice on how to deal with your mounting bills or create a plan for repaying your creditors. A reputable and experienced debt settlement company will assess your financial situation without any obligation and devise a plan to suit your needs. Some of the benefits from these services are:

• Lower monthly payments
• Lower interest rates
• Stop Collection fees
• Stop late fees and over-limit charges
• Bring accounts up to date
• Consolidate into one monthly payment

Credit Card Debt Relief Options

debtrelief-options

When you start to feel like your debt is out of control, it’s time to consider your options to find debt relief. You have several debt relief options to choose from to reduce or eliminate your credit card debt. The four most common debt solutions are below. But the right choice depends on your unique circumstances, so before choosing an option, consult with a reputable debt relief company for an assessment to see if you qualify.

1. Consumer Credit Counseling

Many consumer credit counseling agencies are non-profit organizations that are funded by contributions made by creditors. They can usually negotiate with your creditors to get an interest rate reduction, but you will still owe the entire balance on your accounts. Once you agree to have the credit counseling service represent you, you’ll make a single monthly payment to the consumer credit counseling service. These funds will then go to your various creditors. Depending on the amount of debt you owe and the amount of the monthly payment you make, this could take several years.

2. Bankruptcy

Some individuals simply don’t have a choice, but most people resort to bankruptcy in only the most severe cases because even considering this option can be scary. A bankruptcy filing can remain on one’s credit report for up to ten years; this is why many people look at bankruptcy alternatives. Also, since October 2005, the new bankruptcy law went into effect, and the landscape has changed for those who are considering bankruptcy. Some filers with higher incomes won’t be allowed to file Chapter 7, but will instead have to repay at least some of their debt under Chapter 13. All debtors will be required to get credit counseling before they can file a bankruptcy case. Additional counseling on budgeting and debt management may also be necessary before their debts can be wiped out.

3. Debt Consolidation

While debt consolidation is certainly an option, be very careful before entering into a legal binding agreement with a potential creditor. You see, the interest rate may be extremely high, depending on your credit score and the amount of debt you owe. Also, keep in mind that you will still be in debt; you’ll just owe the money to a different source. Debt consolidation is a good option for some individuals, but – like most forms of debt relief – debt consolidation is not for everyone.

4. Debt Settlement

Credit Card Debt settlement is a program where most creditors will agree to accept less than the full balance owed. In most of these cases, consumers have saved thousands of dollars, helping them become debt free in a fraction of the time they otherwise would have. This option has been an excellent solution for many people and may be all you need to get back on your feet. The key to successfully eliminating your debt through this form of debt relief is finding an honest debt settlement company.

How to Select a Debt Settlement Company

Consumers must be very careful when choosing a debt relief company to represent them. The following are some of the things to look for to find a reputable company:

  • Check online for positive reviews from former clients, either on their website or a third party review site. Obviously, too many negative reviews should be a red flag.
  • You should also check for a good rating with the Better Business Bureau. Although not necessary to have, a good rating is a good sign.
  • Also, a good debt settlement company will not hold your settlement funds in escrow. Instead, you will maintain possession of your funds at all times, and your funds will not be released until there is a settlement.
  • Another red flag would be a debt settlement company that requires exorbitant upfront fees. Instead, look for a debt company whose fees are contingent upon the outcome and paid at the time of settlement.
  • Finally, A good debt settlement company will be easily accessible, always responding promptly to any phone calls and emails from their clients.

Are You Eligible For Voluntary Debt Relief?

Find out if you qualify.
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