Credit Card Debt Relief - The Top 3 Ways Which Consumers Can Get Credit Card Debt Relief

If you owe money to the credit card companies, you are likely looking for credit card debt relief. If so, you have come to the right place. You can keep reading on for 3 methods that consumers are using to get out of debt.

Method #1 - Debt Settlement

Settlement is a great form of credit card debt relief and it is one of the most sought after today. Why? Because you get a percentage of your debt eliminated. Yes really! It might be hard to believe, but your creditors are sometimes willing to accept a percentage of what you owe if you can show that you are at risk for declaring bankruptcy or if you can show that you are in the mist of a financial hardship. Despite the fact that you can try to negotiate with your creditors yourself, your best option to is utilize the services of a professional debt relief company that specializes in settlements.

Method #2 - Debt Consolidation

Consolidation is a great form of credit card debt relief when you owe money to more than one creditor. What happens is that you find a legitimate company to do business with. They will payoff all or most of your overdue debts. What they then do is create a consolidated loan for you (you now owe them money). The good news is that these loans are designed for those with bad credit or those facing financial troubles. Consider it like a mortgage restructure; you get more affordable monthly payments, your loan is spread out over time, and your interest rate should be lower.

Method #3 - Credit Card Counseling

Most times, settlement and consolidation are your best options in terms of credit card debt relief. However, you may be unsure which option is right for you. Or, you may want to stick with the old fashioned try and workout an affordable payment agreement. If you just want professional advice right now, credit counseling is your best option. A professional can look over your debts, your current finances, and then develop a plan of action (which you can take or leave).

If you are over $10,000 in unsecured debt you really should consider getting a debt settlement. Creditors of unsecured debt are fearful of collecting and they also have stimulus money to make debt settlements financially feasible for them. Once the economy turns around it will be too late to eliminate your debt.

Check out the link below to locate legitimate debt relief companies in your area: