Is There A Way To Reduce Personal Credit Card Debt Without Filing Bankruptcy?

Who do you know that plans on being suffocated with consumer debt? But as the story goes; countless Americans happen to be held captive by their credit card debt. The way it appears, they see zero options to get free from this debt pit. Additionally, considering the recent personal bankruptcy law modifications, help with your debt just isn’t as straightforward as it used to be.

Is making monthly credit card payments starting to drag you down? Are you aware that you can settle the debt without the help of debt collection agency? If it appears as though they are there to help consumers, they aren’t! Realize this point, these folks are in the debt marketplace to position a person in debt and keep them drowning in debt forever if possible. As a result, it’s essential to reassess working with collectors and any third party collection agency.

Settling a credit card debt requires time as well as patience. You also need to have resilient nerves. If you can settle the debt then you will be able to save some thousands of dollars. If you are unable to afford the current combined payments then settling credit card debt is your best option.

The key qualifier to determine if you are a candidate for credit card debt settlement is if you currently are in the arrears. If you are way behind and being threatened by debt collectors, you most likely fit the criteria for credit card debt settlement.

When it comes to debt settlement, debt collection companies are the enemy! To put it bluntly, when struggling with economic hard times, don’t ever deal with debt collectors. The legal guidelines help make it so that you are definitely not compelled by law to deal with debt collection agencies.

In summation, you are paying credit card issuers less than what is owed and they are agreeing to that fact! Let’s imagine that you owe an overall total of seventy thousand dollars in delinquent credit card debt. Creditors will certainly compromise with you at a lower amount if you can show that negotiating is going to be a better business decision than trying to squeeze blood from a turnip.

Don’t listen when people tell you to cease making monthly payments so that you can qualify for settlement. This isn’t helpful advice! If you’re making payments and definitely will ride out the financial thunderstorm, find solutions to decrease your payments. See if you can get a pay increase. If you’re in sales or perhaps own your own business, are you able to raise your profits? Look for methods to avoid going deeper in debt.

If you meet the criteria for credit card debt settlement, put together a settlement offer and contact your credit card issuers. Be prepared because your first offer you make might be refused. You must remind the company that you have ran out of options. Let them know that you don’t want to file bankruptcy. Negotiate with them till the end. You can reduce your debt with credit card debt settlement!

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Here is all the info you will ever need on National association of certified credit counselors and what to do when time is of the essence and you want to Get Out Of Debt as soon as possible.


  • As a Newbie, I am continuously searching online for articles that can be of assistance to me. Thank you