Credit Card Debt - Eliminate Credit Card Debt to Avoid Bankruptcy

Of all the debts that you currently have, it is the credit card debt that is affecting you the most. Why? Imagine you purchase an item you don't even need through your credit card and when you delay payment the interest rate increased as high as 32%. It's nothing compared to a mortgage, student loan, or medical bills at least these debts are used for the improvement of your life and live a decent home.

Let's face reality; credit card debt will drown you if you are not careful. Be sure you pay your bills on time and make payments above the minimum. If you don't even do these from the start or you have delayed payments already, don't fret. There is another solution that will stop you from filing bankruptcy in the near future. This is through having a debt settlement.

How will you settle your debts without having to get in touch with one of those annoying bankruptcy attorneys? You can settle your debts through hiring the aid of a debt settlement company who have stronger ties with the major creditors. This company will be the one to negotiate with your creditors and eliminate approximately 50% or even 60% of your total credit card debt. Then, you will pay the company a certain fee based on the amount of total unsecured debt eliminated not the total unsecured debt you have before negotiation.

With the given information about debt settlement company, there is a downside of hiring one. Your credit score will go down but not as much as severe as bankruptcy. What is a lower credit score compared to having a $10,000 unsecured go lower to a $5,000? The good thing about it also you can recover in no time within 1 year or so you will be back on your feet again.