A huge amount of credit card debt can feel like a piano on your back. The crushing weight of it can affect your life and health. One way to shed this weight is to settle credit card debt. Settling is less damaging to your credit, and settlement does not come with the social stigma that bankruptcy brings with it.
To settle credit card debt, you must first simply stop paying anything to your creditors. This seems to fly in the face of everything you've ever been taught about money, doesn't it? The reason you stop paying is that creditors will not deal if you are making payments. Why should they? They are receiving payments. Once you stop, they will start dealing. Here's where you will need to know what to say, and when.
Dealing with creditors takes a certain mindset, and knowledge of the way the credit industry is set up. Armed with this knowledge, you will be ready to set up a settlement plan that you can work with.
In a settlement strategy, you deal with your creditors to lower the total amount owed to them. This new amount is due in one lump sum, or sometimes in two or three. More and more creditors are willing to give you a couple of payments, but don't count on it.
The trick in a settlement is to come up with the lump sum amount. This is typically where most settlement plans fail. If you work through a settlement company, you make payments into an account that they will disperse to your creditors. Trouble is they take their rather steep cut first. You can do debt settlement yourself and save a ton of money, but you will have to come up with that lump sum. Consider tax returns, family loans etc.
You'll find that if you settle credit card debt, the satisfaction of being debt free without ruining your credit or not eating is a great thing!
Debt settlement is a way for you to potentially save thousands of dollars.
To see a side by side unbiased review of three highly popular do-it-yourself debt settlement programs, visit:
Do It Yourself Debt Settlement [http://www.diydebtsettlementcourses.com].
John Phillips owns and operates [http://www.diydebtsettlementcourses.com]
To settle credit card debt, you must first simply stop paying anything to your creditors. This seems to fly in the face of everything you've ever been taught about money, doesn't it? The reason you stop paying is that creditors will not deal if you are making payments. Why should they? They are receiving payments. Once you stop, they will start dealing. Here's where you will need to know what to say, and when.
Dealing with creditors takes a certain mindset, and knowledge of the way the credit industry is set up. Armed with this knowledge, you will be ready to set up a settlement plan that you can work with.
In a settlement strategy, you deal with your creditors to lower the total amount owed to them. This new amount is due in one lump sum, or sometimes in two or three. More and more creditors are willing to give you a couple of payments, but don't count on it.
The trick in a settlement is to come up with the lump sum amount. This is typically where most settlement plans fail. If you work through a settlement company, you make payments into an account that they will disperse to your creditors. Trouble is they take their rather steep cut first. You can do debt settlement yourself and save a ton of money, but you will have to come up with that lump sum. Consider tax returns, family loans etc.
You'll find that if you settle credit card debt, the satisfaction of being debt free without ruining your credit or not eating is a great thing!
Debt settlement is a way for you to potentially save thousands of dollars.
To see a side by side unbiased review of three highly popular do-it-yourself debt settlement programs, visit:
Do It Yourself Debt Settlement [http://www.diydebtsettlementcourses.com].
John Phillips owns and operates [http://www.diydebtsettlementcourses.com]