subject: Debt Settlement - How to Legally Settle Unsecured Debts For 50% of Your Actual Balance [print this page] Debt Settlement - How to Legally Settle Unsecured Debts For 50% of Your Actual Balance
If you're wondering about relief, how would you like to knock 50% off of your credit card debt? It sounds like a come-on with a coupon, but actually it's a legal method to settle unsecured debts. It's called debt settlement. Debt settlement is a form of debt relief wherein a company goes into negotiations with creditors, yours, and works toward a compromise with them to settle your debts for less than you owe, possibly up to 50% of your actual balance. Why would your creditors want to do such a thing?
Consider where they're coming from. Here we are in a bad economy and people desperate for debt relief are filing bankruptcy left and right. Bankruptcy is as bad for the consumer as it is for the credit card companies. For the consumer, you, it puts you in a bad place because your credit will go downhill and never stop that momentum. Your credit would suffer for years and years. For credit card companies, if you go bankrupt, they get zilch. Nada. Nothing. They don't want nothing, they want something. So they are open to negotiation. That's where a debt settlement company can work toward debt relief for you.
Debt settlement companies. A legitimate settlement company has professional counselors to hear you out, figure out what you owe, and then will approach the credit card companies with a debt relief solution that will benefit everyone involved. Some credit card companies have settled for 50% of the actual balance, knowing that this is a better solution than not receiving one red cent. The settlement company will help determine a payback schedule you can live with and will start you on your journey to financial recovery.
If you're looking for a legal alternative, don't take the precarious bankruptcy route, do some research into settlement. Your bills aren't going away, but they could get cut in half.
Check out how to legally settle unsecured debts for 50% of your actual balance. Check out a settlement company today.
Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences with filing bankruptcy. If you are over $10k in unsecured debt you will be eligible for debt settlement.
