subject: Credit Card Debts - Why Credit Card Debts Are Always Negotiable [print this page] Author: Eri k stump Author: Eri k stump
When it comes to finances at some time or another, most everyone could use some advice in the regards of facts instead of thought. Getting someone to give you the hard truth about credit card debt is the best advice you will receive. Learning how to talk to the company handling your credit cards is valuable information that can assist in ways to pay off credit card debt. Credit card companies are not out to be your friend and loan you money to get through the week, they are there to make money. If you are making the minimum payment, it could take years to pay off a couple of hundred bucks that is the way the credit company has set it up. When a minimum payment is made there is a very small amount that goes toward the principle balance (what you actually used), the majority goes to interest and service charges. After all if you paid back exactly what you borrowed there would be zero profit for the credit card company, granted they would not be in business long if they only got back what they gave. However; to reduce the amount of extra you do pay can be accomplished by paying a little more than the minimum each month. Credit card companies do not have to call their customers and ask permission to raise the interest rate on their monthly balance, in reality they just change it and add to the bill. The good news is a customer can negotiate with the credit card company regarding the interest rates. Many times if you call the company and ask for your balance, tell them you are closing the account and transferring to another company that offers a lower interest rate, they will more times than not, agree to lower the rate. If they do not lower or offer to lower, you have options, follow through with closing the account and opening with someone else or continue with the same company. Another option is do contact the credit union you currently bank with and inquire if they do a consolidation. If consolidation is available, "combine" all of your other cards into only one through the credit union. Credit unions may have a smaller interest rate which will add up for you if all cards are consolidated through a lower interest program. If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt. FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link: Free Debt Advice (http://www.debtreliefemergency.com/) About the Author:
debtreliefemergency.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.
