subject: Credit Card Debt Settlement Is The Nuts And Bolts Of Getting Out Of Debt [print this page] There are many debt relief programs on the internet that provide excellent debt management help. Everyone today knows that the major problem facing most individuals is credit cards. With their high interest rates its virtually impossible to pay these off. You certainly dont stand a chance by making the minimum payments. At the end of the day there are only two viable solutions. One is to declare bankruptcy and the other is to get debt management help to assist you in reaching a credit card debt settlementt that you can live with and that works for you.
Today one popular program is Christian debt solutions. These are programs aimed directly and Christians working with fellow Christians. In addition to all the secular things that are done to reach a credit card debt settlement, there is also much the use of prayer and asking the Divine for guidance and support through the debt process. If you arent a Christian or a particularly strong one, dont dismay, there are also a great deal of debt management help that is not religious in its orientation and also does an excellent job in providing effective consumer debt relief.
The key to a successful outcome is to reduce both the interest rate and the principal debt amount. When you put together you have an effective and workable path to debt freedom. As a rule of thumb, professional and effective debt relief programs often can negotiate an interest rate to about half or less than the rate you have been paying. As of the principal balance, getting this reduced by 40% is not all uncommon and by 50% in many cases. Just think about it, if you can half the interest rate and half the debt amount you are already virtually half way out of debt. What a great place to start!!
