Debt Help - If You Have Over $10K in Credit Card Debt There Is Legitimate Help Available
Credit card debt can accumulate quickly, between paying minimum balances, continuing to accept credit card offers, and interest being paid on interest, and before you quite realize it, you may have a staggering balance of ten thousand dollars or more.
As quickly as this point was reached, however, it's a different matter entirely getting back to reduced or eliminated debt.
However, if you're ready to dismount this unwanted burden, there is legitimate help available, no matter how large that burden is.
You've probably tried all of the personal steps you can.
You've created a budget, prioritized debts by interest rates or bottom lines or some other system; you've tried paying a little over the minimum balance, refused new credit card offers, and cut back on other expenses to chip away at the accumulated interest.
No matter how thoroughly you plan, though, the debt remains.
Before you go filing for chapter 7 in complete despair, you should realize that this is help for people in exactly your situation, and lots of places to find it.
Debt counselors are a common and excellent place to turn.
Come prepared with all of your financial details, from yearly income to how much you spend on clothes each month, and it's their job to crunch the numbers until they've found a plan that is feasible for you.
The plan is generally sent for approval to your creditors, in order to ensure that both you and the credit card companies are on the same page and can move forward in confidence.
Another option is to seek out either a debt consolidation or a debt settlement company.
Debt consolidators will exchange your many loans for a single loan that you can pay off at a usually reduced interest rate.
Debt settlers will negotiate directly with your creditors in order to lessen the burden of debt - sometimes by reducing the principle itself.
Each of these options has their drawbacks.
There are dangers in putting your financial future into an untrustworthy counselor - be ware of any purported "non-profit" counseling companies that charge high fees, give non-specific details as to how they'll reduce your debt, or don't write up an explicit contract.
Additionally, not everyone is qualified for debt consolidation, and debt settlement companies usually charge an up front cash fee before negotiating your debt.
As quickly as this point was reached, however, it's a different matter entirely getting back to reduced or eliminated debt.
However, if you're ready to dismount this unwanted burden, there is legitimate help available, no matter how large that burden is.
You've probably tried all of the personal steps you can.
You've created a budget, prioritized debts by interest rates or bottom lines or some other system; you've tried paying a little over the minimum balance, refused new credit card offers, and cut back on other expenses to chip away at the accumulated interest.
No matter how thoroughly you plan, though, the debt remains.
Before you go filing for chapter 7 in complete despair, you should realize that this is help for people in exactly your situation, and lots of places to find it.
Debt counselors are a common and excellent place to turn.
Come prepared with all of your financial details, from yearly income to how much you spend on clothes each month, and it's their job to crunch the numbers until they've found a plan that is feasible for you.
The plan is generally sent for approval to your creditors, in order to ensure that both you and the credit card companies are on the same page and can move forward in confidence.
Another option is to seek out either a debt consolidation or a debt settlement company.
Debt consolidators will exchange your many loans for a single loan that you can pay off at a usually reduced interest rate.
Debt settlers will negotiate directly with your creditors in order to lessen the burden of debt - sometimes by reducing the principle itself.
Each of these options has their drawbacks.
There are dangers in putting your financial future into an untrustworthy counselor - be ware of any purported "non-profit" counseling companies that charge high fees, give non-specific details as to how they'll reduce your debt, or don't write up an explicit contract.
Additionally, not everyone is qualified for debt consolidation, and debt settlement companies usually charge an up front cash fee before negotiating your debt.