Debt Help and Advice - How to Apply For a Credit Card Debt Settlement

June 12, 2010 - PRLog -- Most of us are in a habit of using a credit card whenever we make a purchase. The benefits of a credit card would be when a customer makes purchase on the card and at the end of the month when he receives the bill he pays it all off in one go. But this is not the case. Most of us try to make a minimum payment at the end of the month. The result is that a high interest charge gets added to the bill amount. In this way the credit card companies make profit while the customer fills into a debt trap.

During the recent economic slowdown a lot of customers have been looking for ways to come out of debt because of obvious reasons. There are a lot of debt relief methods available. A customer needs to analyse his finances and then choose a relief method which will suit him the best. Each method has its own pros and cons which a customer should be aware of before he commits to a relief method.

A popular debt relief method is debt settlement. Any customer having a minimum unsecured debt of then thousand dollars can participate in this relief program. This method involves negotiation between the debtor and the creditor to reduce the total amount of debt in exchange to a lump sum payment. A customer can do this negotiation by himself or he can hire a debt settlement firm to do the negotiation.

The card companies generally encourage only those customers who have been missing out on their payments for some time and are on the verge of filing for bankruptcy. A good negotiation can get a customer as much as 40% to 60% reduction on the total outstanding debt.

If you are struggling with paying back your credit card debt or any other unsecured debts there is legitimate help out there. Debt settlement usually makes financial sense for consumers with over $10k in unsecured debt. There are also other options available. To talk with a debt relief counselor for free help check out the following link:Free Debt Advice
(http://www.debt-settlements.com/)
contact us for free debt advice = 8886916918

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Www.debt-settlements.com is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.
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