Credit Card Debt: How to Get Settlements Up to 50% Off


Many Americans are burdened with excessive, high-interest, credit card debt. Considering loan-shark interest rates, excessive miscellaneous fees, and late penalties, a lot of this debt is simply not real. In light of this fact, people badly in debt have been successful in getting settlements, sometime with the entire debt being reduced by 50%. Debt relief options do exist. In some instances it is wise to find a reliable and experienced credit counselor who will approach your creditors and try to negotiate a lower bottom line. Finding these companies is not hard to do. Finding a reliable and experienced one is another story.Some Debt Settlement Companies Can Scam YouMany so-called debt settlement companies are taking advantage of the present recession that has left many consumers deeply in debt and very anxious. They usually offer very low rates and make claims as to how well they do regarding debt relief for the consumer. Unfortunately, these claims may not represent reality. An anxious consumer, plagued by sleepless nights and stacks of bills, sometimes loses good judgment and grabs the first source of help, however faulty that source may be.Understanding Credit Card Debt SettlementA credit negotiater must thoroughly understand his or her clients financial situation. Armed with this knowledge they approach the creditors. Of course, the discussion that takes place between the credit card issuer and the counselor is an adversarial one. Understandable since the are at cross purposes – one attempting to decrease debt, the other seeking to increase recompense.Role of the CounselorCounselors are responsible for getting the most reduction for their clients. These counselors personalize the approach to match the needs of each client. In the onslaught of consumers seeking debt relief, some creditors have set up structured debt settlement packages that the counselor and the client can accept or reject with no other alternative. As banks or credit card issuers struggle to keep their profits high, the result has worsened credit card debt.50% Credit Card Debt SettlementDebt relief options can be postulated within certain ranges. As an example, if a customer holds credit card debt in the sum of $80,000, a reduction of up to 75% may be feasible. The reduction rate will not be as large for a holder of $20,000 in credit card debt. This is so since earnings will not be as large for lower end debt holders. Also, the time is a priority for the banks and credit card issuers as well. They need the settlement done quickly because time is money in their business.Credit Card Issuers, Banks, and Consumers SufferBanks and credit card issuers have been dealt blows by these economically difficult times. They have not been able to collect the debt owed them by financially strapped individuals. Also, recent federal laws have been passed stipulating increased cooperation between lenders and their debtors. This mostly involves coordinating with consumers by providing debt relief options and looking for ways to reduce costs so the debts can be eliminated to the comfort of both. Experienced counselors can get credit card debt settlements of 50% or more.

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Melissa Kellett has a Master in Finance and has been a financial consultant for years. She specializes in Loans for Bad Credit people and also in helping people to get approved for Personal Loans, unsecured loans, Guaranteed Unsecured Loans Online, no credit check loans, student loans among many other financial products. Visit her site at
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