debt relief services

February 7th, 2010

With the creation of new debt settlement laws, there has never been a better time for consumers to eliminate credit card debt. It is no secret that our country is massively in debt as are many of our citizens. 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. While we avoided a financial collapse, creditors of unsecured debt are still very concerned about collecting. 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. A legitimate debt settlement program will be able to provide significant leverage for you during the negotiation process. They already have established relationships with all the major creditors and can use their leverage to negotiate a better deal. In return they will collect a fee from you for their service but if you are over 10,000 dollars in debt this fee will almost always be 50% less than your savings.

When you eliminate credit card debt through a debt settlement company there is only a minimal effect on your credit score and will actually end up helping your credit score down the line. After you eliminate your credit card debt you will be considered more eligible for additions lines of credit and loans. 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 use a debt relief network instead of going directly to a particular debt settlement company. 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. A debt relief network will help consumers avoid illegitimate companies and give them the flexibility to find proven debt relief help in the state. This has proven to be the most effective way in locating legitimate debt settlement companies who will be able to live up to their promises.

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