Credit card debt relief is the most sought after option to solve financial crisis.
Credit card debt is an unsecured debt which carries a high rate of interest.
The aim of the credit card companies is to maximize their profits through the interest.
So the consumer has to use the credit card in a reasonable way so that the unpaid bills do not shock them.
The Recession has not only affected the lives of individuals but also the finance institutions and the credit companies.
When people are not able to pay the dues and file for bankruptcy, the creditors incur a huge loss.
The credit card debt relief is a very viable solution at the moment.
The Government has created a stimulus for the finance institutions which can be used for those who chose to settle their debts.
The creditors are more willing to settle unsecured debts because of the following reasons.

• The debtors might file for bankruptcy.
  In such a case, they cannot recover any amount due.
  
• The creditors might incur enormous loss and stop their operations leading to bankruptcy.
  
• The stimulus cash encourages the creditors to accept debt relief.
  
• The debt settlement gives them an option to recover at least one portion of the total amount.
  The creditors welcome this solution as compared to losing the entire amount due to debtors filing bankruptcy.
  

The debtors can negotiate directly with the creditors or can also find a good debt settlement agency to negotiate on behalf of them.
The creditors might be willing to forego 50 % to 60% of the total debt.
This programme serves to be beneficial to the debtors and the creditors.