If you are in debt to the credit card companies, you might assume that you are in a winless battle.
To stop the collection calls and letters you need to pay up, right? Kind of.
There is an approach known as debt settlement.
While debt settlement will not eliminate all of your credit card debt, it will eliminate a percentage of it.
As you know, it is easier to pay off your bills when you owe less.
But wait! How can you get your credit card companies to agree to a settlement? Show you are in distress.
If you just lost your job last week, you don't want to start contacting the credit card companies now.
If you paid your bills in full and on time up until just a few weeks or even one month ago, you aren't an ideal candidate for debt settlement.
Creditors use debt settlement as a last resort; like when cardholders go months without paying their bills or when they are at risk for declaring bankruptcy.
Be represented by a professional debt management company.
These companies hire professionals who have undergone training and they are experienced.
Over the years, settlement has increased in popularity meaning your caseworker may have brokered hundreds of other deals with the credit card companies.
They know what to say and what not to say.
When represented by a professional company, you are likely to see a higher percentage of debt elimination (which is good).
In short, you have nothing to lose by at least speaking with a debt management company.
How can you find that company? Instead of performing a standard internet search, visit the online website of a debt relief network.
These networks do the work for you by tracking, monitoring, and testing debt management companies to pair you with the best and most legitimate companies in the business.