Debt Settlement For The Active Credit Card User

By: kjmena

We are an age of spenders.  As a result, many of us have multiple credit cards, some of us have as many as 6 or 7. Not to mention, we spend a couple hundred on each card that eventually accumulates into thousands of dollars of debt.

This debt will then have to get paid off at some point, if not the debt will only get larger and harder to pay back. As a result, many more people are turning to debt relief companies for assistance with their debt problems.

One such form of debt relief is debt settlement. This is a more affordable type of debt relief that will negotiate with your creditors and possibly reduce your debt to a lower amount.

What Is Debt Settlement?

Debt settlement is a method of debt relief that allows for fast results with minimal change to your spending. It’s a debt relief program that works with your budget and needs to meet your debt relief goals.

In a debt settlement program, you will make deposits to an escrow account on a monthly basis, which will later be used as payment once as a settlement is reached with your creditors. In the mean time, the debt settlement company will negotiate with your creditors for a settlement that is favorable to you. They will usually try to reduce your debt by a significant amount so that you end up saving money in the end.

This is a great option for those who have multiple debts and are struggling to make monthly payments. This program will simply help reduce your monthly payments to an amount that you can pay so that you can start improving on your credit score.

A debt settlement program is a process and can take anywhere from a couple of months to a couple of years, so commitment to the plan is key.

How Does It Work?

Debt settlement works by having certified debt specialist use their skills and expertise to negotiate and reduce your debt load.

You will first receive an assessment of your personal finances to evaluate your specific debt situation and then you will be advised on available debt relief options. The plan will be customized to your needs, to fit your budget and to get you on the path to debt freedom.

Do I qualify?

Debt settlement programs usually require a minimum amount of debt just so that the debt specialist can negotiate on your behalf. If you don’t meet this threshold, it can be difficult to get a settlement from your creditors.

You will have to check each debt settlement companies requirements to make sure that you qualify before making a final decision.

Also debt settlement works best for those going through a financial hardship. For instance, you are suffering a medical emergency or were laid off, these hardships will give you leverage in the negotiation phase of your debt settlement program.

Make Sure You Use A Reputable Company

There are lots of debt settlement companies out there and not all of them are equipped to handle your debts. You should always check a company’s credentials before agreeing to any terms or signing any paperwork.

Take a look at all of your options before settling on a debt settlement company. Check for accreditations from the AFCC, IAPDA and an A+ rating from the Better Business Bureau. These are critical badges that will show you the legitimacy of a debt settlement company.

Also watch out for any debt settlement company that has upfront fees. These are usually scams. Debt settlement companies are not allowed to ask for upfront fees and you shouldn’t trust any that do.

Put Guardian Debt Relief To Work For You

In order to reach your goals you must be willing to make some changes to your routines. Other options for debt relief can completely turn someone’s life around. With debt settlement through Guardian Debt Relief you can achieve your debt goals without altering your lifestyle too much. Take the first step and contact Guardian Debt Relief today!