Credit Card Debt? Relief, Consolidation Debt Management Programs Abound

Jan. 2, 2013 - PRLog -- Debt can happen to anyone. Don't let outstanding debts or credit card balances control your life. A personal loan may be a good option to help pay down some high interest debt.

Get Started With Credit Card Debt Relief:

http://www.nationaldebtreliefprogram.org/

If any of following statements apply to you, you may be in need of credit card debt relief .

You don't have any savings.

You lose sleep thinking about your debt.

You barely make minimum payments on your credit cards.

You get calls from debt collectors.

You're afraid to look at your statements each month.

On the same token, you have no idea how much you owe.

You use credit cards for things you should buy with cash, such as groceries, gas, or utilities bills.

Your debt is putting an added stress on your marriage.

Your credit card debt to income is at or near 20 percent.

You have more than three major credit cards.

Get Started With Credit Card Debt Consolidation:

http://www.nationaldebtreliefprogram.org/consolidating_cr...

Debt settlement involves negotiating with credit card companies to lower the amount that you owe. It is an aggressive approach to credit card debt relief, and some consumers may be able to settle their debts for less than they owe and achieve the goal of being debt free on their credit cards, assuming they successfully complete the program and each of their accounts are settled. Clients will enjoy one, low monthly payment to the program. It may be an appropriate debt relief solution for consumers who owe a lot of money on credit cards and are barely able to afford the minimum monthly payment or have already fallen behind. In many cases, it is the cheapest and fastest debt relief option other than bankruptcy.

Credit Counseling as a form of Credit Card Debt Relief

Credit counseling involves working with credit card companies to lower interest charges. With consumer credit counseling a consumer is debt free in 4 to 5 years and able to save money on high interest credit card charges. It may be appropriate debt relief option for consumers that are paying more than the minimum payment on their credit cards, but are still bothered by high interest charges.

Credit Card Balance Transfers

For consumers who have not already exhausted this debt relief option, credit card balance transfers may be a suitable alternative. That being said, many consumers need to be wary of falling into the "robbing Peter to pay Paul" syndrome, which can worsen one's situation considerably. In order for the balance transfer to work properly, one must investigate any hidden charges associated with it, as well as the term and offer related to the promotional offer. That is, if the credit card transfer is going to involve a lot of charges added onto your balance, the interest rate will be too high, or the promotional period is too short, then you may be better off finding another debt relief option. If you do find a suitable balance transfer offer, then it is important to sufficiently budget so that you can ensure that it will work out.

National Debt Relief Program offers a free debt analysis which can be taken advantage of at their website:

http://nationaldebtreliefprogram.org/