Debt Relief Advice - How to Reduce Your Credit Card Debt by at Least 60%

The average American individual owes more than eight thousand dollars in debt to lenders. However, the truth is that most of us owe a lot more to our credit card issuers, auto loan providers and other unsecured lenders. The overall debt of America has crossed 2.5 trillions dollars merely because individuals were very careless and reckless in taking on new debts. They did so because the economy was doing very well and it was believed that the boom run will continue for a long period of time.

However, there is a significant difference between the current recession and all previous recessions. The government has stepped in with a stimulus package and lenders are wary of being aggressive in collecting debt for fear of provoking a backlash of bankruptcies. This means that you can approach your creditors and seek debt relief in a confident and aggressive manner.

You should seek a settlement that will help you get rid of more than sixty percent of your debt without repaying even singe cent. Of course, the bulk of your debt probably consists of penal interest, penalties and other such charges. Not only will your lender be prepared to forego these amounts but will also be ready for a reduction of the principal amount owed. They shall be ready to do so because of the current situation of the economy

All you have to do is convince your creditors that you are a step away from bankruptcy. Of course, this should not be done as if you are making an idle threat. You should negotiate with your creditors and make use of debt settlement experts to convey the message that consequences of non settlement of debt shall lead to bankruptcy and loss for creditors.

It is a very essential to keep in mind that credit card debt is an unsecured loan. If you opt for bankruptcy, your lender will have very less chance of recovering any money whatsoever. In such a scenario, a forty percent recovery in exchange of a 60% waiver will seem like a very good deal. This is how you can reduce your debt by obtaining a waiver from your credit card issuer.

If you want to get out of debt and hire a debt settlement company for debt negotiation then I have an important piece of advice. Do Not go directly to a particular debt settlement company but rather first go to a debt relief network who is affiliated with several legitimate debt companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company. This is the most efficient way in finding the best debt settlement companies and increasing your chances of eliminating your debt.

FreeDebtSettlementAdvice.com is one of the largest and most respected debt relief networks on the marketplace today. To find a debt settlement company through FreeDebtSettlementAdvice.com check out the following link: