subject: Avail Unsecured Credit Card Debt Consolidation To Avoid Further Risks [print this page] When a borrower defaults on repayment continuously for a period of six months, the respective credit card issuer transfers the same to the debt collection agency. Then it becomes the responsibility of the agency to be in touch with you and try to recover the maximum possible amount of money. You can avail a good unsecured credit card debt consolidation company to help you out in this through debtconsolidation123.
The collection agency tries its best by putting a lot of pressure but there comes a point when the agency also might give up by declaring you as a bad debt. Many people start relaxing after six months thinking that no one would now pester them with collection calls to repay their debt. However, this is surely not true. There is immense possibility of you being considered liable to pay the credit card debt until the limited time span expires. This period is the period, which is calculated by the law following which the borrower or corporate identity will not be able to enforce the obligations in the law court. This time is about 2-3 years. In such a situation, there is a chance of you being sued for not repaying your credit card debt repayment prior to the expiry of the limitation period. This implies that that you should try to make credit card debt consolidation by use of other methods. Instead of just dreaming that your debt would just go away, it is better to contact your lender and try to negotiate for an affordable amount for your debt repayment.
Be aware that your credibility can take a hit. Hence, it is advisable to negotiate with the service for a discount. You will just have to pay up the balance amount in form of installments and the creditor will declare that the debt has been paid off. This way you will be consolidating credit card debt completely. As a result, your liability ceases and you need not go to the court. Hence, never listen to people who give you the advice to stop making your repayments. The collection agency will not give up so easily. In major instances, the person is forced to go to the court. You can consult a non profit credit card debt settlement company to help you out with your debt.
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