You have a secret weapon that you can use as a part of your credit card debt elimination arsenal. Use it to your advantage to finally get rid of your financial burdens. Ladies and gentlemen, that weapon is debt settlement. It is what you really need to fight predatory lenders and win.
It is the quickest way of credit card debt elimination other than bankruptcy. This program only takes about 2-4 years to be free from debt. Also, your monthly payment will be reduced as much as 60%. If you are being harassed by debt collectors, the debt consultants will execute various strategies to reduce or eliminate the harassment.
If you are delinquent or you are experiencing financial difficulties, your creditors may agree to debt negotiation. Why? Because they feel that a settlement of your debt will be in their best interest.
In most cases, they arrive at a conclusion that the person requesting debt negotiation appears to be a legitimate candidate for bankruptcy. And if you file bankruptcy, your creditors would receive nothing.
They would rather choose to take a discounted settlement of your debt rather than not receive a penny. You will then succeed in credit card debt elimination, your creditor will get some money, and everyone ends up better than their worst options.
It may seem a bit strange for debt collectors to settle for substantially less than what you owed to them. However, debt collectors do realize that many people who are way behind paying their bills will eventually file for bankruptcy. If this happens, your creditors in most cases will get nothing.
Besides, the debt collectors purchase these uncollectable debts for pennies on the dollar- anywhere from 2-25 cents. If they purchased your debt for 25 cents on the dollar and they settled with you for 50%, they just doubled their profit. Not bad.
To get the best settlement offer, your debt negotiator should be knowledgeable, influential, confident, socially-skilled, optimistic, resilient, and strategically focused.
Make sure that you hire a debt negotiation company that offers free legal consultation and free credit repair. The debt collectors may threaten a lawsuit for non-payment. Also, your credit will be negatively affected.
Be sure that whoever you choose to represent your interests in your credit card settlement meets the above criteria. In order to ensure best results, do some research to find out which credit card settlement companies have a solid history of success and positive testimonials.
You can run internet searches on various company names to find both positive and negative feedback. You should to be able to get a free evaluation of your financial status from other debt settlement companies.
It is advisable to search for a company that treats each customer as an individual. They should consider how to most effectively meet your unique needs, rather than treating everyone totally the same. This is because each and every debtor has a different scenario.