?
Copyright ? 2012 creditCardDebtSettlementInfo.com
Finding Reputable Credit Card Debt Settlement Services
If debt is hanging like a weight around your neck and you need a way out, but you don?t want to go bankrupt, it may be time to get credit card debt settlement service for a business regulated by the Federal Trade Commission.This is an option that could give you a way out of much of your debt without destroying your credit in the way bankruptcy does.
What is debt settlement?It?s a type of negotiation in which debt settlement companies sit down with credit card companies and bargain to cut the debts owed by consumers.Ideally, credit card companies release consumers from a sizable portion of what they owe.Consumers, for their part, agree to pay about 40 to 60 percent of their debts in lump sums.
Credit card debt settlement service is especially valuable to consumers trapped on the so-called ?credit treadmill.?These consumers are caught in a loop, making endless monthly minimum payments on their credit cards but unable to pay back any of the outstanding debt.This depletes consumers? income and leaves them less able to pay back any of their outstanding balances.Many consumers have only two ways to stop the treadmill: Chapter 7 bankruptcy or debt settlement.
The debt settlement industry is regulated by the FTC, which requires honest dealing and full disclosure.Before the FTC took charge, the industry was wide open, and a few dishonest businesses took up-front fees whether or not they ultimately reached settlement agreements for clients.Under amendments to the commission?s Telemarketing Sales Rule that were adopted in 2010, companies now can charge fees only once they have reached settlement agreements with credit card companies.This ensures debt settlement companies have the incentive to represent you all the way through negotiations.
Companies also must fully disclose all risks associated with credit card debt settlement service.For example, consumer credit can suffer as a result of settlement attempts, though not as much as it would in bankruptcy proceedings.
With these regulations in place, is it possible to find entirely reputable assistance in negotiating your debts.It is possible, but not advised, to try to settle your debts without help.A consumer negotiating solo has little bargaining power compared to a settlement company, which does routine business with credit card companies.Settlement companies are also well-versed in credit card company bureaucracy, something an individual consumer isn?t equipped to navigate.
Debt settlement has never been more popular.More and more American consumers find themselves turning to credit card debt settlement service, and more and more creditors see settlement as a way to get back some of their money rather than losing everything to bankruptcy proceedings.Debt settlement companies are increasingly common.Some firms still skirt ethical corners, but the vast majority do not.
In a still-uncertain economy, with jobs few and far between, debt is a major problem.As evidence, the average consumer credit card debt in 2010 was $4,200.For millions, credit card debt settlement service is a way to get free clean.
The credit treadmill may seem like a permanent trap.You can?t pay back what you owe and you can?t keep paying the monthly minimums.Credit card debt settlement service may be the answer.You may be able to dig your way out of debt without abandoning your credit in bankruptcy court.
Brad Allen is a credit card debt settlement trade insider. He runs a group of credit card mediators that works directly with every top credit card institutions and collection agencies.
Brad charges no up front costs for this assistance on his web site http://CreditCarddebtSettlementInfo.com
hornets prince johan friso windows 8 logo anguilla gone with the wind michael jordan checkers
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.