Collectors are calling, bills are stacking up, and unsecured credit card balances are out of control… does any of that sound familiar? Chances are good that if you are over 18 years old, and have at least a couple of credit cards, it does. There are so many people looking for ways to escape overwhelming credit card debt that it’s absolutely not funny. Unsecured debt (debt that is not pledged against an asset – a home mortgage or car loan is a secured debt) is a serious cause of anxiety, panic, and general stress, and it doesn’t get any better until you can actually get it under control.

That is exactly why it is so important that people understand the remedies that exist for unsecured debt. Unfortunately, many people assume that there are only two options:

1. Pay the bills. Most people find this impossible. Their economy is in the tank, incomes have decreased, jobs are on the line, and unsecured credit balances have skyrocketed as a result of folks just trying to stay afloat.
2. Ignore them. Wouldn’t it be great to just completely forget about all the bills, past due notices, and phone calls? However, this is a really bad move. The best case result of this strategy is horrible credit, and a general feeling of being a dirt bag for not living up to your obligations — and that’s best-case. We won’t even mention lawsuits, wage garnishment, and bankruptcy.

If you find yourself in a position where your minimum monthly payments are difficult to make, now is the time to check out at least one of the remedies for unsecured creditors – unsecured debt settlement.

It’s simple really…

You see, as much as the credit card companies and other unsecured creditors like to play hard ball, at some point they realize that they have to cut their losses. At the end of they day, they would rather get some money than no money. So, if you are a smart consumer, you will take advantage of that.

Basically, you put your hard luck story on the table. If you’ve lost a job, had medical issues, or have any other reason for not paying your bills on time, you lay it all out there. By doing so, you are essentially letting your unsecured creditors know that you want to live up to your obligations, but that you just can’t. Once they realize this, they are willing to make arrangements with you. In some cases, they eliminate interest, in others they agree to take a fraction of what is owed as payment in full.

Here’s the downside…

It is a very difficult process to do yourself, which is the exact reason why there are several organizations out there that have been set up to aid struggling consumers with the process. By contacting one of these places and allowing them to handle your case, you stand the best chance of getting the best deal.

So, knowing that there are remedies for unsecured creditors, and knowing that organizations exist to help you, there is no reason ignore your bills. Better yet, there is no reason to even struggle. At the end of the day, there are countless people taking advantage of these remedies for unsecured creditors, why not you?

Popularity: 5% [?]

Here’s a question for you: Do you wish you had more debt than you do now, or less? I’m going to go out on a limb and guess that you said “less.” Am I right?

It’s only common sense that the higher your debt is, the more likely you are to have trouble with it. If your debt is currently higher than you would like, one of your options for lowering it is to negotiate a debt settlement.

Let me tell you right up front, however, that negotiating debt settlements is not one of the easiest tasks you will ever undertake. In fact, it’s really quite difficult. You will need to contact the collections department for each of your credit cards and attempt to talk them into accepting less than what you actually owe on your account. And if that sounds like a yucky thing to do, just imagine doing it over and over again, for each account you need to settle. However, losing everything of value that you own, destroying your credit rating, and declaring bankruptcy isn’t exactly a walk in the park either. So, even though it’s a difficult and scary thing to do, it’s far better to contact your creditors and attempt to negotiate than it is to just cross your fingers and hope for the best… ’cause the “best” just won’t happen on its own.

Let’s stop for a moment and define exactly what it is we are talking about. A debt settlement is not simply lowering the interest rate on your loan. It’s also not a consolidation, where you lump all your outstanding balances together so that you only make one smaller and more affordable payment over a longer length of time. While both of those alternatives may be viable options for some people, a debt settlement involves actually reducing the total amount you owe. The credit card company simply writes it off, and agrees to accept a smaller sum — many times MUCH smaller – as payment in full on your account.

Here’s one more thing you need to be aware of when negotiating debt settlements: once you come to an agreement with the credit card company, the amount you’ve agreed to pay to settle your account is due in full. That means within 30 to 60 days you need to be able to produce a payment that will completely pay off your account. However, if you’ve done a good job in your negotiations, this amount will be significantly less than what you currently owe — 40% to 65% less! So do the math: if you currently owe $10,000 on your MasterCard account, you could negotiate a settlement for $3,500… saving yourself a whopping $6,500! And that’s just one account. Imagine if you owe more money on several accounts, and are able to successfully negotiate debt settlements on each of them. Wouldn’t that be a significant weight off your shoulders, and well worth the pain of dealing with all those collection departments?

Now be aware that your creditors are not always amenable to accepting settlements, for several reasons. First of all, they are losing money. Yes, they can write it off as a cost of doing business and offset the loss to some extent. But it’s certainly not their preferred way of handling customer accounts. In fact, of they think they can string you along and keep you making small payments, and charging you late fees and outrageous interest rates, they would much rather do that. So unless you can convince them that you are on the verge of bankruptcy, they will make it impossible for you to settle. However, if you do too good a job and they think there really is a chance you will file for bankruptcy, they may just turn you over to their legal department immediately so they have a better chance of being first in line to get whatever money is available from you. So you see, it’s a fine line you need to walk when you try to negotiate debt settlements.

In conclusion, I’d like to point out that the task of negotiating debt settlements is not for the faint of heart. You will need to be very discerning and possessed of excellent bargaining skills in order to get a good outcome. That’s one of the best reasons why, for some people, it makes sense to get help from a neutral third party. There are organizations staffed with people who negotiate credit card settlements for a living. These folks know exactly what they are doing, what each individual credit card company is likely to accept, and can almost always get you a much better deal than you would get on your own.

So if you decide to try it yourself, make sure to do your research and learn as much about the process as you can. But also realize that there may be a big advantage in getting a professional involved right from the start, in order to save as much money as you possibly can.

Negotiating debt settlements can be your last resort when you are over your head in credit card debt. A trained professional can make the process much easier and save you a lot of money. Get a free, no-obligation consultation by clicking here.

Popularity: 7% [?]

No one needs to tell you that getting yourself into debt is an incredibly easy thing to do.  When you find yourself unable to meet the monthly minimum payments on your credit cards, and you keep seeing your balance rise higher and higher because of late fees, increased interest rates, and over-limit fees, it may be time to consult a debt reduction specialist. 

You may be asking yourself, “Can’t I just do it myself?” The short answer to this question is yes, you can.  Legally you have the right to attempt to settle your debts with your creditors. Here are a few things to keep in mind when attempting a do-it-yourself debt settlement:

• Who should you contact?
  Each credit card company has several departments that make up their business. Can you find the right one? And if you don’t send your settlement request to the right person or department the first time, do you really think the request will be forwarded to the correct department? Do you want to take that chance?
• What should your Request For Debt Settlement letter say?
  If you’re just an average credit card user like I am, there’s no real way to know how to approach your credit card company so that they’ll consider your request.  You want to be persuasive and let them know exactly how dire your situation is, yet your letter also needs to be very well-written or they will not take you seriously.
• How much is too much?  How much is too little?
  Do you know what a typical debt settlement looks like?  If you owe $10,000, how much should you try to settle for?  $5000?  $2500?  $1000?  Who really knows what the “right” dollar amount is?  Not me, that’s for sure!

It may seem like I’m “anti-do-it-yourself” when it comes to debt settlement, and I’ll tell you something — I am!  Why?  Because I have tried to do it myself and it is much more difficult than anyone thinks it is.  Finding the right point of contact, writing exactly the right words, negotiating the proper settlement… it’s confusing, complicated, and above all, frustrating!

After a few months of trying the do-it-yourself route, I finally handed over the reins to a debt settlement specialist.  It was the best decision I have ever made, and here’s why:

• They have a database of credit companies, contact names, addresses, phone numbers, fax numbers and email addresses at their disposal so that the letters and requests actually reached the right person the first time, every time!
• They already have form letters that deal with every type of credit issue imaginable. These letters are very well-written, and written in the proper persuasive tone that is so necessary to getting your file seriously reviewed for settlement.
• They were familiar with each credit card company and knew exactly what their typical limits are when asking for a settlement.  No guessing involved!

The absolute smartest thing you can do when you want to try to settle your credit card debts is to consult a professional debt settlement company.  When you’re dealing with your money, leave the hard stuff to the professionals — you won’t regret it!

If you’ve decided to consult an expert to help you settle your credit card debt, I can give you no higher recommendation than Debt Consolidation Headquarters. Contact them today for a free, no-obligation consultation. It will be the best decision you ever make.

Popularity: 3% [?]

Two Ways to Eliminate Credit Card Debt Quickly

When trying to deal with credit card bills that have gotten out of control, usually people turn their attention to one of two things: credit counseling or debt settlement. Both of these options are very good ways to keep your credit score healthy. They also allow you, to a certain extent, live up to your contractual agreements with your creditors.

However, be aware that both of these options are very different from one another. So, if you are in a situation where you might need to use one of these debt solutions, it is important that you understand the differences between them, so that you can eliminate your credit card debt quickly and efficiently.

• Credit Counseling. For the most part, it isn’t “counseling” at all. Basically, the counseling is done by non-profit companies who have set up arrangements with most major credit card companies. The arrangement is pretty simple. Because they are non-profit, the creditor is able to write off any sort of concession that they give you as a “donation” for the most part. So, the credit counseling agency will take on all of your debt, lump it together, and then negotiate with each of your creditors individually. In most cases, the creditors will give deep interest rate concessions. You in turn send your monthly payment to the credit counseling organization, who then forwards your payments to the various credit card companies that you owe. Normally, you can shave a significant amount off of the total you owe, and pay your debt off years sooner than you would have.
• Debt Settlement. This is pretty much just what it says. You offer the credit card company a sum of money to settle the debt. So, lets say you had $5,000 in credit card debt with one creditor. You could realistically settle that debt for 50% – 60%. The only downside is, they normally won’t accept any sort of payment arrangement on a settlement. So, once the offer is accepted, the settled amount is due in full, typically within 14 business days.

Regardless of which option you decide on, it is always advisable to have someone working on your behalf. This is done through third party organizations that specialize in matching people up with appropriate credit counseling or debt settlement firms. Usually, just by asking you a few simple questions, they have a grasp of your situation and which option is right for you. They then give you the name and phone number of an appropriate organization for you to work with.

Getting a recommendation like this will in ensure that you are not working with a company that might scam you, as the referring company almost always has a long standing relationship and understanding
of the various organizations in their network.

If you are seriously considering either credit counseling or obtaining a debt settlement, be a responsible consumer and talk to a third party organization to get some recommendations before you do anything. Not only will they steer you in the right direction, but they also offer free consultations so that you can get a better understanding of the processes involved.

Popularity: 5% [?]

There is no doubt that when trying to get a credit card settlement, that it makes perfect sense that you would want to work with the best credit card settlement companies. Dealing with the best credit card settlement companies gives you a sense of security that the job will be done correctly and in your benefit.

There are a couple of things that you should look for specifically when deciding on the company to work with:

1. Length of time in business. Typically, a company that has been around for a while is the better choice. Not only because they have been in business for several years, but because they probably have better relationships established with the credit card companies. A better relationship, in many cases, means a better settlement for you.
2. Time to talk. The best credit card settlement companies will make enough time available to actually talk to you and get your full story. Believe it or not, by understanding your situation and exactly where you are financially, they can often get you a better settlement. So, try to stay away from any company that doesn’t have time to actually get the facts from you.
3. Upfront fees.  Usually, you are looking for the best credit card settlement companies because you don’t have money to pay your monthly bills. So, does it make sense to work with a company that is trying to collect a large upfront fee from you? Of course not! Your best shot is to work with a company that will give you a free consultation upfront, rather than try to dig in your pockets just for the chance to speak with them.

Just like with any other financial matter, you want to make sure that all of your bases are covered. Most of the time, that simply isn’t possible by doing it yourself. So, working with one of the best credit card settlement companies only makes sense, right?

One other thing to keep in mind is to go with your gut. Usually, you can tell right away when a situation feels right or if it is a bad fit. So, if after five minutes of talking to someone you feel like you are dealing with a used car salesman, that probably isn’t the right company for you. On the other hand, if the person generally seems interested in you and your situation, that is usually a sign that they will work hard in an effort to get you the absolute best settlement possible.

However, it is important to keep inmind is that in your efforts to settle your debt, there is one thing working against you – time. The more time that passes, the less likely that your various lenders will be willing to work with you or anyone on your behalf. So, in these types of situations, it is always a smart decision to take action immediately.

If you are looking for a good company to handle your credit card debt settlement, Debt Consolidation Headquarters is a great place to start. Register for your free consultation today.

Popularity: 8% [?]

With the way credit card debt has gotten out of control, there are an ever-increasing number of people wanting to know how to get a credit card settlement. Can you blame them? Seriously, their credit cards are maxed out, they can’t use them any longer, and they are now facing the facts that they will be paying off their credit card debt for the next 15 (or more) years. Pretty disheartening, right?

In order to fully understand how to get a credit card settlement, you have to understand what the options are and how they work. Believe it or not, you are not the only one with something at stake in this situation. The credit card companies themselves stand to lose a ton of money should everyone in a tough spot just decide to not pay anything at all. They realize that in most cases, there are three specific things that can happen:

1. You can go bankrupt. The bank doesn’t get their money and you will have horrid credit for years to come. Basically, nobody wins. The bank’s bottom line takes a hit, and you have to walk around with credit so bad that you probably couldn’t get a cell phone contract. Doesn’t sound like a good option, does it?
2. You just do nothing. Again, both you and the bank lose in this situation. The bank takes the financial hit, but you get labeled as a deadbeat. The big difference is, it’s a cost of doing business for the bank, so it doesn’t really affect their reputation. For you personally however, the effects in most cases are more than a little embarrassing. “Buy here, pay here” car lots, prepaid credit cards, and in some cases, if your credit gets bad enough, you can’t even get a checking account.
3. You can negotiate an arrangement. This is where the whole “how to get a credit card settlement” comes into play. Basically, at some point the bank often realizes that they are not going to get the full amount that they are owed from you. So, in an attempt to get something, they will often take a small portion of what is due and call it “paid in full.” In this situation, the bank gets their money, you get a positive mark on your credit report — everyone goes home happy, right?

The one thing that you need to keep in mind is that dealing with credit card companies is never an easy task. Each bank has their own guidelines on settlements, so Bank A will settle for a certain percentage, but Bank B will settle for a completely different amount. Without being familiar with the process and terms of the banks that you are trying to get a credit card settlement with, you could end up not getting very good results.

So, how do you get the best deal possible?

The easiest way to ensure the absolute best deal is to get a free consultation from a company that knows the process from start to finish. In most cases, they have dealt directly with every bank on the planet and are already familiar with their procedure and process. Basically, they act as a buffer from the bank taking advantage of the fact that you don’t know the facts and legalities of how to get a credit card settlement.

As a consumer, it should always be your goal to live up to your contractual agreements with your credit card company. However, we all occasionally hit bumps in the road. When that happens, our best bet is to have someone on our side. In this case, that would be a company that is familiar with getting credit card settlements for consumers. So, if you find yourself in a rough patch and a settlement is your best option, do the smart thing and get in touch with a professional for a free consultation immediately.

Popularity: 6% [?]

Chances are good, if you are anything like the average consumer these days, you are facing an uphill battle trying to keep your credit card payments current. With that struggle comes the task of trying to stop collection calls. The problem is that the collections department of most credit card companies are relentless. They call day after day, at all times of the night, and their main goal is to guilt you into giving them money that you obviously don’t have.

The worst part is no matter how hard you try to stop collection calls, they just keep coming. Generally the people calling you don’t care what your “story” is. They don’t care if you are sick, lost your job, dealing with major family issues, or if you are on your death bed. All indications point to these people being heartless, manipulative, and overly aggressive. If you have ever had a collection call, you know exactly what I’m talking about.

The truth of the matter is, there are only two ways to stop collection calls:

1. Pay the money you owe. For most people this option isn’t even remotely possible. I mean, if you had the money to pay, they wouldn’t be calling, right? In some cases, consumers will reach out to family and friends for loans to pay the money owed in an attempt to stop the collection calls, but generally that only puts them in a position to owe a close friend or family member money that they can’t pay.
2. Make other arrangements. In my experience, this is the most effective way to stop collection calls. However, you’re probably wondering what “other arrangements” are, or if it is even possible to make other arrangements. Well, it definitely is possible, and we will get into how that is done here in a minute.

It is largely unknown by most consumers that there are programs out there that can assist them with getting their credit card debt back in order. Basically what they do is a consolidation of sorts. Essentially, they take all of your debt, put it into one big lump, and they pretty much assume the debt for you. The best part is, this can be done even if you have an absolutely horrendous credit history. As long as the credit card company that is pestering you hasn’t charged the debt off as bad, there are programs that can help you.

In most cases, the programs are administered by non-profit organizations whose sole purpose is to aid consumers in getting their unsecured credit card debt in order. One of the best parts is, from the minute you enroll, they take over all communications with your credit card companies. So, you essentially will never have to talk to your credit card company or their collections department again. How’s that for telling them to take a hike?

The only thing that you really have to keep in mind is that if the money you owe gets charged off, it’s too late. So, if you are in a situation where you are 30, 60, or approaching 90 days late on your credit card bills, now is the time to take action. Too many people wait until it is too late and then have to suffer the consequences of having years and years of bad credit. It doesn’t have to be that way, but it is up to you to take action for once, and finally get your debt in order. Most of all, by taking action, you can effectively stop collection calls.

If you need to stop collection calls, contact this debt consolidation organization today. Along with dealing with your creditors, they can help you eliminate up to 50% of what you currently owe, and put together a plan that will have you debt-free in 12 to 36 months.

Put an end to the stress of credit card debt collection calls and finally get a good night’s sleep!

Popularity: 8% [?]

It Can Be Done Quickly, Easily, and Legally

So, you want to consolidate your credit card debt? I don’t blame you! If you are anything like the rest of the population living and breathing on this planet you are probably living under a mountain of debt that you know will take you the next 30 years to pay off. The worst part is that you are probably having trouble making even the minimum payment so, the thought of doing so for the next 30 years is probably more than a little disheartening, right?

The first step people generally take when trying to consolidate credit card debt is to go to one of two places. Either their local bank or some second rate local lender that is known for giving loans out to folks with “rocky” credit. If you choose either one, the outcome is usually more than a little frustrating and in some cases embarrassing. Let’s take a look at how it usually plays out at these types of places:

1. Local Bank. Usually the guy behind the big desk can barely wait for you to leave before he starts to laugh. Seriously, the thought that someone would come in with overdue credit card bills and apply for a loan is hilarious to him. So, understand before you even go that for the rest of the day you will likely be the punchline to their jokes. Kind of embarrasing, right?
2. Second Rate Local Lender. In most cases these types of companies will give you the money you need to consolidate credit card debt. However, the loan that they give you comes with some pretty thick strings attached to it. Usually they want some serious collateral, in the form of your car, house, or something else of considerable value. On top of that, their interest rates are usually double any rate that you would find acceptable. So, basically you would be taking a debt that is completely unsecured and then attaching something of value to it that could be taken if you don’t make the payments or fall behind. Does that sound like the smart thing to do? I didn’t think so!

So, how in the world do people consolidate credit card debt then?

One of the easiest and most successful ways to do it is through the help of an organization that specializes is dealing with the the various credit card companies. You see, the collections people and folks that you talk to at the credit card companies are for the most part trained to do one thing — collect your money! They don’t care about why you are late, how sick you are, or what kind of financial crunch you might be in.

Luckily for us, some non-profit organizations have started to take notice. These groups started programs to aid consumers who wanted to consolidate credit card debt. In order to do so, the first thing they had to do was to get a new non-profit exemption. By doing so, any concession that the credit card company agrees to give you when in negotiations becomes a tax write-off.

Basically, once the process goes through one of the organizations mentioned above, the credit card company has nothing to lose. Even if they agree to reduce your interest rate to 0%, they are still whole as they can write off the difference on their corporate taxes. You see how that works?

While this definitely isn’t the conventional way to consolidate credit card debt, it is the easiest and cheapest option that I personally believe exists. If you are running late on your payments or havn’t paid them at all for a couple of months, take the ten minutes to look into this as an option, you will be glad you did.

Here is one group that can help you consolidate credit card debt and help you get the best deal possible. Why not contact them today?

Popularity: 2% [?]

So, I’m guessing that you’ve got some credit card bills you’re looking to take care of without paying? Join the club! It would be great if we could all just run up a mountain of bills and then simply eliminate credit card debt without paying. If we all did that though, we would no doubt be a society of deadbeats!

Trust me when I tell you that you are not the first one to try to find a way to eliminate credit card debt without paying. If you really think about it though, there is one way to do it! The answer is so obvious and simple that it might even shock you! Are you ready for it?

Just don’t pay them!

See, I told you it was simple. However, that usually isn’t the answer people are looking for, because they know that the act of not paying their unsecured credit card bills has big consequences. By not living up to your end of the agreement with your lenders and trying to find a way to eliminate credit card debt without paying, you run the risk of suffering one of or all of the consequenses listed below:

1. Having a horrible credit score. It doesn’t take a rocket scientist to know that by not paying your bills, you run the risk of permanently damaging your credit profile. Bad credit means no mortgages, car loans, or credit cards in the future.
2. Jeopordizing employment. More and more employers are running credit checks on employees that they are thinking of hiring. They also run periodic credit checks on employees that have expense accounts or access to company credit cards. This is done as a way to protect the company from individuals who might not know how to manage their funds.
3. Higher interest rates. By not paying your bills you run the risk of paying higher interest rates on any future lines of credit you might get.
4. Denial of service. Companies such as cellular service providers routinely run credit checks on people who try to establish accounts with them. A horrible credit score often means that you can’t even get a cell phone. Cell phone companies are not the only ones though. Insurance companies also do this. So, by not making good in some fashion on your credit card bills could mean that you will be denied something as important as insurance.

As you can see, using the only method to eliminate credit card debt without paying at all has a serious downside. There are ways that you can make your credit card bills more manageable though. So, not only can you pay what you owe, but you can also spare yourself the embarrassment that is suffered every day by so many people that don’t pay their bills.

Believe it or not, most credit card companies are more than happy to make arrangements on the balance you owe. The downside is, they are usually not willing to make those arrangements directly with you. This is why, in most cases, consumers use third party organizations who specialize in negotiating with creditors.

One more benefit to going this route is that there are no huge fees for this to be done, as these organizations are generally non-profit. They exist to perform a socially benefical service to the community. So, while you might think you are the only one trying to find a way to eliminate credit card debt without paying, you are not. As a matter of fact, the sheer number of people seeking such a solution are the reason that these non-profit organizations were established.

So, before you decide to go the deadbeat route, it is highly recommended that you give one of these organizations the chance to get you back on track.

If you would like to eliminate credit card debt, click here.

Popularity: 3% [?]

Legal Debt Reduction Anyone Can Do

It isn’t uncommon these days for individuals to have more credit card debt than they can pay. As a matter of fact, some people have said it is an epidemic of sorts. Over the past couple of years, the amount of unsecured debt that individuals have amassed has grown to levels never seen before. Now that the cards are maxed out and the bills are starting to pile up, more and more people are wondering how to eliminate credit card debt legally.

Before we get into that though, there is one thing that needs to be addressed. Credit cards are unsecured. This means that there is no collateral that the bank can take if you don’t pay, the cops are not going to show up at your door, and any sort of court proceedings that take place will be on a civil level. So, in reality, you don’t have to pay them at all and there is nothing illegal about it.

On the other hand, by not making good on your contractual agreement, you will more than likely be labeled a deadbeat, have a terrible credit score, and will likely never be granted credit again in the future. Basically, you wouldn’t be able to put something from the dollar menu at a fast food joint on layaway because you will be known as someone that doesn’t pay their bills. That would stink, right?

So, the best thing to do would be to take advantage of various programs that the credit card companies have established to pay your balance off. In many cases there are even specific organizations that are there to help you in the process. This is important because most consumers are too intimidated to try and deal with and negotiate with their creditors, and for good reason. It’s no secret that the people that work in the collections department at the credit card companies have the personality of a pit bull with rabies. For the most part they have one goal and one goal only — to collect a payment regardless of the circumstances.

That is where the third party organizations come into play. They take the “heat” for you. Basically, you give them a list of your creditors, how much you owe, and what your typical minimum payment is and they take care of all the dirty work for you. The best part is that in almost every case, there is not an upfront charge to you the consumer. So, you don’t have to deal with the credit card companies directly, you don’t have to pay any upfront fee, and 99% of the time you end up with a monthly payment that is substantially lower than you are used to — one that you can actually make.

Surprisingly, there is a large part of the population that has never even heard about this method to eliminate credit card debt legally. That really shouldn’t come as a surprise, as I seriously doubt that the credit card companies themselves are telling consumers about it. However, it is definitely a method that is starting to gain traction as more and more people successfully eliminate credit card debt by using it.

Some of the other options that can be used to eliminate credit card debt legally have serious flaws. Lets take a look at 2 of them:

1. A consolidation loan. In order to do this successfully, you would either have to have an excellent credit score or have something that you could use for collateral. I think it is reasonable to assume that if you are having trouble paying your credit card bills that your credit score probably isn’t that great, fair enough? I think it is also pretty safe to assume that introducing something of value as collateral to pay off an unsecured debt probably isn’t a very good move financially. As a matter of fact, it is actually pretty ridiculous, if you think about it.
2. Borrow money from friends or family. Now, this is where it gets sticky. You are having trouble paying your credit card bills, so as a solution you borrow money and obligate yourself to people that you are related to? Lets just say that this rarely turns out well. As a matter of fact, it is situations like this that make daytime court shows like Judge Judy possible.

As you can see, once you get into a situation where your credit card bills become hard to pay, there is really only one option that makes much sense. Seriously, you can let a third party negotiate your monthly payments or even your whole debt amount, take out another loan that you probably can’t pay, or get yourself into a situation that could turn ugly with friends or family. Which one do you think sounds the best?

One thing to remember is that time is of the essence. Once the credit card company has sent your account to their “legal” department, all bets are off. When this happens, they usually won’t talk to you, negotiate with you or a third party company, or have any other communication with you. When it gets to this point, they are usually looking for a way to attach your wages or even secure a lien on some of your assets. So, if you really want to eliminate your credit card debt legally, the time to act is now.

If you would like to eliminate 50% of what you owe, avoid bankruptcy, and be debt-free in 12 to 36 months, click here.

Popularity: 8% [?]