Debt Relief Options - How to Eliminate Credit Card Debt by 50%

With the new debt settlement programs bankruptcy can be avoided completely

. Filing for bankruptcy removes your debt in one go. But your credit scoring suffers a major setback. The business and financial world do not want to lend money to someone who has defaulted earlier and was not able to repay. It puts a black mark on your financial future. Hence try and avoid it by all means possible. On the other hand, with the debt elimination program your credit scoring is not affected that badly. Hence your financial future is not destroyed. When a person files opts for a debt settlement program instead of bankruptcy a clear message of good intent is sent out to the market. The financial community and the business world get an impression that the person has good in tensions and is interested in clearing the loans.

With the new debt settlement programs you can eliminate 50 percent of your credit card debt. This procedure is ethical as well as legal. To be eligible for this program you must have a minimum of $10,000 in unsecured debt with one or more credit card company. You must also be a US citizen. Hence this program is available for all American citizens. If you fulfil both these criteria then a good debt settlement company may be able to reduce your credit card debt by 50 to 60 percent. With a massive reduction in debt opting for bankruptcy can be completely ruled out.

What we must take care of, is our spending habits. Next time you go shopping you might want to stick to the cash available in your pocket and avoid pulling out your credit card. You can avoid being a victim next time. You need to get out of the habit of using the money that you do not have.

For the millions of Americans who are at least $10 k in unsecured debt, it would be financially prudent to consider the debt settlement option. Creditors are very worried about collecting their debts and legitimate debt settlement companies know exactly what methods to use to get your creditors to agree to eliminate a certain percentage of your unsecured debt.

Debt Relief Options - How to Eliminate Credit Card Debt by 50%

By: Casey Charles

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