subject: Credit Card Debt Relief Laws 2010 - How To Take Advantage And Eliminate Credit Debt [print this page] Credit Card Debt Relief Laws 2010 - How To Take Advantage And Eliminate Credit Debt
The US market is not performing well. The economy is still struggling to get out of the effects of recession. Still there are millions of people who are troubled with unsecured loans and are looking for ways to get out of their debts. This is a ripe time for the consumers. They can take advantage of the credit card debt relief laws of 2010 and eliminate their unsecured loans.
According to these laws, the lenders will get stimulus cash and tax reduction aids if they agree to settlement deals and also the settlement firms will not be able to ask for up front fee from the consumers. These are all beneficial for the consumers. The consumers can now actually approach the creditors and ask for debt settlement. If the creditors do not agree, the consumers have the option to threaten the creditors with bankruptcy and then force the lenders to wipe out at least 50% of the total dues. This is possible because the consumers know that the creditors will get federal aid to cover up for the loss.
On the other hand, if the consumers want to get the best out of the settlement deals, it is good that they hire professional settlement firms. The risk of getting trapped with some fraud firm no longer exists. This is because of the fact that the firms can no longer ask for fee unless and until they have settled the debts of the consumers. The consumer can now demand for a legit and working settlement deal and only after which they will pay. This way, the consumers have the high ground of forcing both the creditors and the settlement firms and get out of debts as soon as possible.
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.
