Credit Card Debt Reduction – Credit Answers – New Era Debt Solutions
If you’re looking for credit card debt reduction services, remember that you are best served if you have at least $10,000 in debt and are looking to cut deals with your creditors. Credit Answers tells us that creditors are increasingly concerned about the numbers of delinquent accounts. They are currently agreeing to very generous debt settlements. Taking Credit Answers to heart, let’s look at some of the realities of credit card debt reduction.
- Credit card companies would rather collect a percentage of your debt balance than none at all.
- Debt settlements have become the best alternative to declaring bankruptcy.
- Consumers can eliminate unsecured debt with credit card debt reduction while avoiding the negative consequences of bankruptcy.
- Your credit score will be adversely affected but not nearly as negatively as with bankruptcy.
- You will pay into an escrow account and your debt settlement company will let you choose the monthly payment amount so you can properly budget.
- Once the escrow account grows to the negotiated settlement price your accounts will be paid off.
Hopefully these Credit Answers have helped you understand a bit more about credit card debt reduction. Remember that after your accounts are paid off, your credit score can recover quickly and you will be back on track with no debt burden. It’s important that you do your research on debt settlement companies and choose one that has a long-standing and proven record of successfully negotiating and eliminating debt.