The word 'legal' is prefixed to 'Options To Never Pay Back Credit Card Debt' because this is what every reader would be interested in
. There are numerous illegal activities and unethical practices used by many fraudulent companies claiming to solve your debt problems. The only legitimate way to settle debts is to approach your creditor, negotiate a debt settlement and start to pay in to a fund that will be used for clearing the agreed debt amount.
This is by far the best option available to pull you out of a debt crisis, because you are in agreement with the creditor to pay a portion of your debts and this is in writing! A debt negotiation strategy should be chalked out before you approach a creditor. This is vital to a successful negotiation because different debtors have different levels of debt. However, an unsecured debt is the most risky type of bad debt, because you are unsure as to what steps can be taken by an agitated creditor.
As your assets are unpledged it gives every right to the creditor to have general claim on your assets. If you have unsecured debts in excess of dollar 10K it is highly recommended to approach a debt settlement agency immediately. Start a plan of action to revive the situation.
I am stressing on the words 'debt negotiation' again in this section as it is the most important component of a debt settlement. If you are able to successfully negotiate a debt settlement with the creditor you stand to be the beneficiary of a 30-60 percent discount on the total debt you owe. The nature of agreement is such that a partial payment that you make (which is agreed with the creditor), is treated as a complete payment that nullifies all your dues.
Start by approaching a professional firm that has wide experience in dealing with debt settlement. The stress should be on the words professional and experienced. This is of utmost importance because there are so many fraudulent companies that can take you for a ride if you do not pre-assess their capabilities. So, complete your homework before taking the plunge.