What Can Credit Card Debt Settlement Companies Do For You?

Did you know you could get out of credit card debt without paying everything you owe? Does that sound too good to be true? Well it’s not. Not if you go through a credit card debt settlement company. A credit card debt settlement company will contact the credit card companies for you, and will work out a settlement so that you can get out of debt quickly and for less money than you’d spend otherwise. How do they do this? They know all the rules that credit card companies follow, and they know the tips and tricks of how to reach an acceptable settlement, as far as both parties are concerned. They will handle all the fees and the credit card debt settlement tax so that all you have to do is pay a one time fee. Then you are free and clear from whatever credit card company they happen to be contacting for you. If you want to get out of debt, and you have no idea how to negotiate a settlement it might be best for you to contact a credit card debt settlement company.

Negotiating

The main thing a credit card debt settlement company can do for you is negotiate with the credit card companies. If you owe a lot of money and you’re seriously delinquent on your bills, you don’t have a lot of leverage to negotiate with. If you were to contact the companies and tell them that you’ll pay them half of what you owe, they will likely laugh in your face. On the other hand, if you were to contact the credit card debt settlement company and had them call the credit card company, they will be able to negotiate as a third party, and they will know all the tips of the trade so that the credit card companies will have no choice but to accept whatever settlement the company offers. It’s the negotiation part that’s usually hard for people to face, and that’s why credit card debt settlement companies are so invaluable.

Out of Debt For Less

The main thing a credit card debt settlement company can do for you is get you out of debt, while also saving you money. They may be able to negotiate a settlement for far less than you owe, or at least they may be able to decrease your interest rate so that your bills don’t keep climbing. Either way, the credit card debt settlement company can save you money.

These two things, negotiations and money saving, make calling these types of companies well worth it. Just make sure you are wary of any scams so that you don’t fall for something you’re not prepared for. Never give anyone money, and make sure you do your own research so you can ensure the company is legitimate before you sign up for any programs.

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I have a debt on one credit card (my first) and was thinking about seeking the assistance of a debt settlement agency. Is this a good idea? Which company is most trustworthy? How can you tell which company to trust?

Thanks!

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I enrolled with Renaissance Debt Solutions out of MD and paid the initial 9 start up fee to help me with credit cards and a repo that I have been paying on for 3 1/2 yrs. I was not behind in anything at the time but am now. Checked with the BBB (after the fact) and the company has an unsatisfactory rating. Does anyone have any further information about this company before I just cut my losses and try to get back on track with my creditors myself?

I am unable to make the high payments because after being late the banks are now charging me 30% interest. I have between and thousand in un-secured debt and our income has plummeted due to low sales at our business. I am looking to either sign up with a consumer credit counseling service where they can lower your interest rate or with the other option which is a debt settlement company where they settle with the creditors for a lower amount to be paid back. I want to know which will be a lesser negative effect on my FICO score. I have always had excellent credit but now I want to do what is best for my credit score.

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Im being sued by a credit card company. Im going to court in 4 days. I didn’t respond to the court papers because I had a debt settlement company taking care of my debts. Big Mistake. If I contact the attorney do you think they would settle? Do you think they would accept payments over 3 months. The credit card is 6500.00. The credit cards company will have to travel 7 hours for court. Also I contacted a lawyer online, where you ask questions and he did not recommend me contacting them and settling before the date. That I should contact a lawyer, they could represent me in arbitration and see if I have grounds for an appeal. Anyone else experienced this. I was just going to call them tomorrow or fax my offer.
Any advice is greatly appreciated

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Does anyone have a good way to settle-negotiate the amount owed on a credit card without using a debt settlement/consolidation company?

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My hubby and I have chose to go with a debt settlement company to deal with out ,000 credit card debt. After doing more research on it, I have discovered that we will probably get a 1099-c for debt forgiveness. We may also have our wages garnished and get a law suit filed against us for not paying our bills.
Has anyone ever done debt settlement before and have delt with this? If we are having a hard time paying our bills now, they how will we be able to pay our taxes for next year if we have to claim the debt forgiven as income?

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Credit Card Debt Settlement Company

I am making minimum payments with a few credit card companies but could have trouble paying these in the future. I don’t want to go through a debt consolidation company or a debt settlement company. Is it possible to call on my own and warn them I will file for bankruptcy and ask to settle before I stop paying for 30-90 days like most experts say? Can someone give me their advice or opinion on this? Thanks

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