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Eliminating Credit Card Debt

Eliminating credit card debt has taken on newfound importance today as an era of economic uncertainty persists. Thankfully, there are powerfully effective programs, services and initiatives with the stated goal of eliminating credit card debt for consumers and small businesses alike. These programs have helped millions of individuals and families over the years to get out from under credit card debt, get back on track, and get on with their lives.

To be certain, eliminating credit card debt takes some thought, research, and then the courage to get started with, push on, and see through a debt help program to completion. We can show you how to get there from here, but the choice is yours. The final decision to get started with eliminating credit card debt and achieving debt freedom is a smart one. Happy are those who carry little or no credit card. With some work, you can be one of the lucky few.

Yet where to begin when you are either already buried in credit card debt or can see a problem looming on the horizon? Fear not. The options for eliminating credit card debt today are many, and there most likely is an option suited for your situation. These programs for eliminating credit card debt consist of those types of debt relief and debt management programs which make use of loans to pay off and consolidate debt, and those types of debt relief and debt management programs which make no use of loans but rather work through processes of negotiation directly with your creditors.

Debt Settlement

One of the most popular programs for eliminating credit card debt today is debt settlement. This program garnered much media attention during the worst of the economic recession, as thousands of American individuals and families were signing up for and taking advantage of these programs on a daily basis. Yet what is this program for eliminating credit card debt and how does it work?

Debt settlement, also known as debt negotiation and debt arbitration, is a highly effective program for eliminating credit card debt which entails a debt relief or debt management provider negotiating on your behalf with your creditors in order to settle outstanding unsecured debt accounts such as credit card debt for significantly less than what was originally owed. Typically, a credit card holder has to show financial hardship or already be behind on their credit card payments for debt settlement negotiations to be successful.

The pluses to this type of program for eliminating credit card debt are many. The person in debt is able to settle their accounts at a significant savings and discount, up to 50% off in many cases, and the credit card issuers are able to recoup a portion of what is owed. Debt settlement is therefore a win-win scenario for both debtor and creditor. Most debt relief providers today that offer debt settlement as one of their programs typically offer a free debt evaluation and consultation so that you may learn more about the program and determine if a debt settlement is right for you.

Another program for eliminating credit card debt (over a longer, extended period of time) is credit counseling. This type of program also involves debt principal, interest rates, and fees being negotiated on your behalf. In a successful credit counseling program, the credit counseling agency is able to obtain extended and better payment terms which lower your monthly debt payment. The tradeoff is that over the long run you'll be paying more – but at a significantly lower monthly payment. For many, this program for eliminating credit card debt can work beautifully.

To get a free debt analysis and learn your debt relief options today, please fill out the contact form to the right and a debt counselor will contact you!