Eliminate My Credit Card Debt
If you are on a fixed income you may be considering that bankruptcy is your only way out of debt. There is a way to eliminate credit card debt without having to resort to bankruptcy. Find out what you need to get out of debt quickly. It doesn’t make sense to ruin your credit for up to 10 years and still be in debt.
This is not credit counseling or debt consolidation. You do not eliminate your debt with credit counseling, you pay back the whole balance. In simple terms, you just get a longer time to pay the same debt amount. So you can toss these methods out. Even though they are touted as some of the best debt cures you can find.
But take a look at who is promoting this. The banks started the credit counseling organizations out there. So they have a vested interest in getting you into credit counseling.
You are left with debt settlement as a way to clear away your debt problem. Using debt settlement you negotiate and offer a 40-60% payment for your full balance. In many cases if you are 3 to 6 months behind on your payments, they will be willing to settle with you.
With debt negotiation, you can erase your credit card debt quickly. You could possibly get a 30% settlement on a $100,000 balance and save $70,000 for example. You may be able to save more or less. But with so many people struggling to keep up with all their bills, the credit card companies are seeing more and more of this everyday. People are falling behind on their bills.
The bank would rather get half of what you will than zero. They have to please their stockholders.
You can do it all by yourself and save the most money. You can settle all your credit card debts on your own and save an extra 15% off your debt. So read a book, or buy a home study course on how to DIY credit card debt elimination. This is the best way I’ve read about that can help you eliminate credit card debt without bankruptcy.
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