subject: How to Eliminate Credit Card Debt Through a Proven Debt Relief Tactic [print this page] How to Eliminate Credit Card Debt Through a Proven Debt Relief Tactic
Would you hand over your new and expensive vehicle to a person who is just beginning to drive? Will you appoint a complete amateur as a nanny for your child? If not, then why is it that you are prepared to believe any and every new tactic that so called experts are prepared to expound as debt relief options?
Is it not obvious that you should focus on credit card debt elimination through proven and effective debt relief tactics? There are many persons who feel that debt settlement is not a credit card debt elimination tactic at all. Further, they raise questions on its popularity and indicate that it is a very new solution.
The truth is that the debt settlement has been around even before credit cards existed. The option of requesting the lender to waive a part of his or her right so that the borrower can repay the debt on time is an age old one.
This option became more popular in America since the late eighties when the financial industry was further relaxed and there was a spate of credit cards and credit card related problems.
Of course, the debt relief option is so popular and so beneficial that credit card issuers have kept it under strict control. At no point of time have they permitted the borrowers to realize that they can get a 50% to 70% discount on the total amount owed.
Lenders have always focused on credit card debt elimination through single digit discount figures. Obviously, a 50% to 70% discount is a very expensive loss for the creditors and they would try to recover the maximum amount possible. Those debt elimination experts who advise you to skip debt settlement have no idea what it is all about.
This is a great debt relief option because it operates on the free consent of the parties involved. Hence, if your lender is not satisfied or is not eager on a settlement, the settlement shall not take place. If you are not happy with the percentage of discount offered, you can simply walk out of the settlement deal and opt for bankruptcy.
If you stick to the settlement deal and if you complete it, you will enjoy a huge debt relief. Of course, not many persons are in a position to complete it and this is the reason why settlement gets a bad name. If you are in-disciplined about your finances, no amount of debt relief is ever going to work.
If you are over $10,000 in unsecured debt it would be wise to contact a debt settlement company while conditions are so favorable. A legitimate debt settlement company will be able to eliminate 60% of your unsecured debt on average. There are now online services that will compare debt settlement companies for consumers and provide a top performing company in their area. To locate a top performing debt settlement company in your area check out the link below.
