subject: Credit Debt Relief Programs - Why The Pros Can Get You A Better Debt Settlement [print this page] Credit Debt Relief Programs - Why The Pros Can Get You A Better Debt Settlement
Financial crises are huge in America right now. Credit card debt is the largest portion of that debt. If you are a consumer who is neck deep in debt then you need to hire a professional to help you. When you are sick you hire a doctor. Having legal problems you hire a lawyer. So why when you are having financial problems would you not hire a financial professional?
Under debt settlement you pay a portion of the debt in return for the remainder being forgiven. This is best handled by an intermediary. Debt settlement by professionals started in the late 1980s. It has helped many consumers who find themselves simply overwhelmed.
Often times the consumer has simply had all the harassment they can handle from the credit card professional. The debt settlement professional acts as a go-between. They can make sure the consumer gets the best deal possible without the consumer being harassed. The consumer does not know the law and credit card professionals know this. Often times the professionals can settle your debt for 50 cents on the dollar.
As a consumer you then have two choices. You can find every penny possible and pay off the debt. This is the more efficient but difficult plan. The second choice would be to enter into a plan where you pay a small monthly payment with lower interest rates.
Which ever plan you choose remember that you need a professional to represent you. They can teach you how to live within your budget. They can deal with your creditors. They can manage your bills and make the payments for you. It will hurt your credit rating but not nearly as bad as bankruptcy which stays on your credit for ten years.
For many consumers this professional is worth the weight in gold just to stop the harassing phone calls and threatening letters. Imagine being able to watch a whole television show again without being rudely interrupted.
So you know when you are sick you hire a doctor. You know when you have legal problems you hire an attorney. Now you know that when you have financial problems you need to hire a professional.
Debt settlement is a legitimate alternative to filing bankruptcy. Consumers can expect to eliminate around 50% of their unsecured debt with the help of a legitimate settlement program. With the new FTC laws recently passed in July 2010, debt settlement is a much less risky option. If they don't settle your balance you don't have to pay a dime.
Check out the following link for free help from a certified debt relief specialist:
