To People Who Want to Settle Credit Card Debt, But Do not Know Where to Start

One of the effects of credit card debt is you start to think you are stuck with no way out. This is understandable, and in fact it is by design. A confused or disputed debtor who continues to faithfully pay the minimum amount due each month, which is almost completely interest, is the best customer for the bank who issued the credit card. Pure profit with very little overhead printing the bill and mailing it to you (and some do not even mail bills anymore, you get an email).

Deep down you know this has to stop, but where do you start?

You start by finding an advocate for you, someone who knows the myriad of laws and regulations that govern the credit card industry. Someone who has deal with banks who issue cards, a person who will take that knowledge you do not possess and put it to work for you.

This professional is a debt counselor. Debt counselors work for the many reputable, non profit debt settlement companies that help consumers craft a solution to settle credit card debt.

Many people who have found themselves in debt say they feel like they have lost control of their financial future. With too much of your income tied up in minimum monthly payments, you are not in control. A debt counselor will help you regain that control.

Control starts with understanding your options. Before you speak to a debt counselor you may think your only option is just trudging along each month, paying the minimum, and avoiding the topic altogether. The thought of having the ability to terminate credit card debt seems out of reach.

A counselor will open your eyes to solutions, not band aids. Credit card debt cancellation is simply a matter of coming up with a plan that is affordable to you, and then negotiating with the bank to make it a reality. Your bank is very motivated to not have bad debt on their books. Couple this with the debt counselors leakage they have by representing thousands of customers, the bank will negotiate and work to settle credit card debt.

Continuing on the path you are on now will get you the same results you have always had- deep in debt with no prospect of getting out. In order to get new results you need new solutions. That is what a debt counselor provides you.

Coming up with a plan that reduces the outrageous interest rate, or steep monthly payments that may have you stretched too thin, is actually the best option for both parties. We all know what happened when the banks faced thousands of their customers unable to pay their mortgages, they could not absorb the losses.

Credit card debt could be the next shoe to drop for banks, so a consumer willing to come to a negotiated agreement is something they will listen to.

To legally eliminate credit card debt with the help of a professional debt counselor, you simply need to set up a free consultation and hear what they recommend for your particular situation. Credit card debt cancellation does not happen unless you take action. Today is the day to end the cycle of debt and set a path for a much better financial future, a future in which you are in control, not the bank.

Source by Charles Youngman

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