subject: Credit Card Debt Settlement – Pros And Cons Of Using A Professional Debt Settlement Company [print this page] Credit Card Debt Settlement Pros And Cons Of Using A Professional Debt Settlement Company
When cash is not an option, negotiating with your creditors through a credit card debt assistance company would be your next best option. A Vista, California resident, Dennis Firenze, attempted to build his own business empire but got $270,000 in debt instead. With a little help from a debt management expert, Firenze was able to reduce his card debt from $60,000 to $18,000 in his one account.
There are indeed great advantages of having an expert on debt settlement negotiate for you. For one, they would do all the hard balling, talking and creating deals with the card companies, which are not really pleasant or exciting. Two, you got all the time in the world that you can use to generate income and raise funds. Third, you do not have to endure the stress of debt negotiations.
That said, you must also be wary of the dangers of getting a debt settlement company to bail you out of credit card debt. For one, with the potential cash that can be harvested from the situation, many con artists and scammers are posing as debt assistance professionals and siphon more money from people who are desperate for a way out.
If you want a debt settlement company to represent you, it is best that you take a deeper look into their background and gather more information before you invest your money and your trust. These are hard times, especially for people with huge credit card debts to their names. It is just wise to be really sure of what you are doing before making a move that could impact your life forever.
