subject: Debt Relief - Why Pay Your Credit Card Debt When You Can Get Rid Of 60% First? [print this page] Most of us are just not aware of the fact that credit card issuers are offering fantastic settlement deals. Lenders are ready to waive as much as sixty percent of the credit card debt without payment of even a single cent. This remedy has come as a god sent solution for the financial problems of many individuals.
Unemployment in America has crossed fifteen million. Further, the number of persons who are unemployed for more than six months in a year has exceeded five million. This does not include individuals who are compelled to work part time or at below subsistence wages. Numbers apart, there is no doubt that the number of individuals who are simply unable to earn enough to sustain themselves and their family is very high.
Lenders realized that pushing individuals for full repayment of debts is only going to lead to a large number of bankruptcies. That is the reason why credit card issuers are ready to offer waivers. The idea is to reduce the payable amount to encourage borrowers to repay the remaining amount in full without any problems or delays.
An average individual owes more than eight thousand dollars to credit card issuers today. Such a person can easily get a waiver of 60 - 70% of the amount owed. Although personal negotiation with lenders is not unheard of, it is advisable to make use of professional debt settlement agencies that specialize in dealing with credit card issuers to reduce debts.
This means that your credit card debt of over eight thousand dollars can be brought down by four thousand eight hundred dollars and you would be required to repay just twenty two hundred dollars to twenty five hundred dollars to your credit card issuer.
You need not make any payment or any commitment in exchange. All you have to do is pay the remaining amount and your loan account will be closed. If you are contemplating bankruptcy, then you can easily get your financial life back on track by getting a settlement. Once the debts are settled, you can work on repairing your credit score and getting your finances back on track.
If you are over $10,000 in unsecured debt it would be wise to utilize a debt relief network instead of going directly to a debt settlement company. Using a debt relief network guarantees that the debt settlement company you choose has been certified and has established success in negotiating settlements. They are free to use and a good starting point to begin your debt relief process.
