debt relief companies

February 7th, 2010

Truthfully, there has never been a better opportunity for consumers to eliminate credit card debt. Everybody knows that America and many of her citizens are massively in debt. America has lived in a society of consumerism where being in debt is not only common but actually encouraged. This attitude has faded significantly with the recent financial and credit crises. America avoided a financial disaster however many creditors are still very concerned about collecting their unsecured debt. This widespread fear amongst creditors of unsecured debt along with massive stimulus bills have made eliminating credit card debt through a debt settlement very advantageous for consumers.

If you are over ten thousand dollars in unsecured debt it would be prudent to capitalize on this market and use a debt settlement company to eliminate credit card debt. You might think you can negotiate a debt settlement deal by yourself but it is not as easy as you may think and a legitimate debt settlement company can provide you significant leverage. They already have established relationships with all the major creditors and can use their leverage to negotiate a better deal. These companies will then collect a fee based on the amount of money they are able to eliminate. If you are over 10k in unsecured debt this fee will be minimal compared to your savings.

A credit card debt settlement will cause your credit score to be lowered initially but will end up helping your ability to get credit a couple years down the line. When you reduce your debt you will have a much better chance of qualifying for additional loans and cred lines. The main concern amongst most creditors is how much debt you owe other creditors. While your credit score is a big factor as well, it is more important that you are not deep in debt with other creditors.

If you want to get out of debt and hire a debt settlement company for debt negotiation on your behalf then I have a important piece of advice. It would be wise to not go directly to a debt settlement company but instead first go to a debt relief network that is affiliated with several debt settlement 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 companies and increasing your chances of eliminating your debt.

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