Credit Card Settlement - A Legitimate Option If You Can't Pay Credit Card Bills

Credit Card Settlement - A Legitimate Option If You Can't Pay Credit Card Bills

Americans are in trouble because of the recession. They are facing more trouble because they are in debt. They have accumulated this debt over years by using their credit cards. Using credit cards don't necessary create debt but they do when they are used without any control. This is what happened to the Americans. Now they are facing enormous amounts of credit card bills on one hand and on the other hand they are trouble with the problem of reduced income or joblessness.

The best thing to do now is to go for credit card settlement. This is a legitimate option to use if you are not able to pay your credit card bills. This method will help you to get rid of at least 50-70% of the debt that you have and at the same time, you will be able to retain your credit score. If you are in a credit card debt of $10,000 or more, all you need to do is to hire a professional debt settlement firm. The negotiator from the firm will then take the responsibility to negotiate with the creditor and eliminate you debt by at least 50% of the total due.

The advice for delinquency will come your way from the negotiator who will then intimate the creditor about your inability to repay the debt. The creditor will then sell off the debt to an agency for collection and will agree to take back only 20 cents to 30 cents per dollar. The negotiator will then contact the creditor and offer 30-50 cents per dollar and also say that the payment will be bulk provided the rest is waived. The negotiator threatens the creditor that you will be facing imminent bankruptcy if the creditor declines the offer.

The creditor will then accept the offer and waive at least 50% of the money that you owe. This is how you eliminate your debt when you are unable to repay the credit card bills.

Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement.

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