subject: Personal Debt Relief - When To Consider Professional Help To Settle Your Credit Card Debt [print this page] Personal Debt Relief - When To Consider Professional Help To Settle Your Credit Card Debt
People are looking for personal debt relief options and this is because of the fact that they are burdened with enormous amounts of debts. The situation has gone out of control after the US economy was hit by a recession. Many people lost their jobs and many other faced a reduction in income. Well, when I say many, it is not in 4 figures. The number of people suffering went up to 6 figures and went in millions. The situation was turned even worse with the number of bankruptcy filings increasing day by day. The government imposed restrictions on bankruptcy filing and then people moved towards debt settlement. Today settlement is one of the most widely practiced methods of debt relief and is helping thousands and thousands of consumers to get out of the debt problems.
However, there is a question! "When To Consider Professional Help To Settle Your Credit Card Debt?" The answer to this question is tricky! Had it been "Why To Consider", it would have been simpler to answer. However, let us find out the answer to the original question. Here is when you consider getting professional help to settle your credit card debt:
When you apply for bankruptcy and you fail to qualify for the same, you are left only with the option of moving out of the stage of bankruptcy. This means that you need to go for alternatives. Of all the available alternatives, only debt settlement is the one which eliminates the maximum of the debt and is the fastest method. However, you can go for a DIY arbitration, which means that you can actually go ahead and negotiate with the creditor on your own. This however, is not a wise decision because of the fact that when you go for self negotiation, the actual elimination that can be realized is only 30%. But, with a professional help, you get 50% elimination and even more.
Next, when your debt is above $10k, you must go for a professional help. This is because of the fact that $10k is a big amount and it is better that you get the maximum elimination out of a settlement deal.
Finally, you must go for professional help only when you are confident about the firm you are hiring. There are many non-legit firms which will fool the consumers, eat up their money and never help. Thus, be sure that you are hiring a genuine firm!
Thus, if you are way under the unsecured debts and you are struggling to balance you personal, financial and social life on track, consider settlement with the help of a professional firm. You never know, you might just be lucky enough to get more than 50% elimination!
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. Check out the following link to locate legitimate debt help in your state.
