Save Thousands Through Debt Settlement

More people in our country today are falling deeper and deeper into debt with their credit cards. As a result many are searching out methods to reduce credit card debt. Debt settlement has become a very popular form of debt reduction due to the two major pro’s of a settlement program. Which are the benefits of saving a lot of money and time.

In a debt settlement negotiation one can expect to reduce their debt up to 50% of what is owed.Unlike a credit counseling program where only the APR can be reduced. With a debt settlement negotiation the actual balance owed will be reduced not just the interest rate. Thus resulting in a major saving of money.

By lowering the amount owed by so much the amount of time until one is debt free will be decreased significantly. Many can expect to become debt free in as little as 36 months. Which is way less than it would take someone to be out of debt by making only minimum payments.

When the credit card bills become to much to handle debt settlement can really help to get through a tough financial time.When paying back one hundred percent of what is owed through monthly minimum payments, the average amount of time in debt is thirty eight years. Besides the fact that over four times of what a debtor owes will be paid in interest alone over the course of the time it takes to pay the debt down. With settlement people can find themselves debt free in a fraction of the time otherwise at a fraction of the money they would have had to pay. For many debt settlement is the single best option to become debt free, however it is not for everybody. People must show a legitimate hardship to qualify for a debt settlement program. The fastest way to see if you would qualify for a debt settlement program is to contact a reputable BBB registered debt settlement company.

Steve Martin is a debt analyst and research assistant with the US Consumer Advocate, which primarily practices in credit card debt settlement.

- Steve Martin

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