Credit Card Settlement Companies
After doing research, some people may feel they can negotiate their debt without the help of a credit card debt settlement company. But if they want to save more money, and obviously save time, the debt settlement solutions they need will come from a good debt settlement company. Our best advice is to never assume you know everything you need to know about debt settlement solutions. It is important to know exactly what you are getting yourself into when seeking credit card settlements and we have narrowed down the main things to look for. Get the facts.
- What is credit settlement? It’s a strategy for relieving debt that involves negotiating with creditors to arrange a lump-sum payment to satisfy a debt. With this form of debt relief, the principal debt balance can be reduced by up to 60%.
- According to the Consumer Debt Relief Initiative, the use of debt settlement services is expected to increase 75% in 2021 when compared to 2020.
- Your credit card settlement debt company has been doing what they do for years. They have developed strategies and tactics that make it possible for them to negotiate lower amounts than you would be able to on your own. This is one of the distinct advantages of hiring a credit settlement company to negotiate your settlement rather than trying to do it yourself.
- The way you get your creditors to settle with you is to have enough money to offer them. Credit card debt settlement programs make it possible for you to save that money by making payments into a trust account. You can’t spend money you don’t have access to.
- You have proof to give to a court if a creditor decides to take you to court. Your proof of actively working to repay the debt is what the judge is going to want to see.
- A credit card settlement company constantly makes offers to your creditor starting at a very low amount during the time when you are building funds in your trust account. This time-consuming work is done for you. When carried out properly, a credit settlement program can save you substantial amounts of time and capital.
- Once your debt is settled, you have a legal paper trail in order to make your credit report accurately reflect what you’ve done.
Find the Right Credit Settlement Company Today
Finally, the credit card settlement solutions you can get with the right company will come from their relationships with the banks. They can get to the people who actually make the decisions. If you truly want your debts off your back, and you want to settle for the lowest amount possible, sign on with a good credit settlement company that has been doing this work for years. If you are looking for a credit card settlement company to work with, consider New Era Debt Solutions. We have over 20 years of experience and have settled over 250 million dollars. Find out what sets us apart from the rest of the pack.