Did you know that credit card debt settlements are better than filing for bankruptcy? You have several secret benefits when you settle your credit card debt:
You do not have to pay out as much. The debt settlement company works to reduce your debts up to 60% of the original amount. This secret alone can help you save thousands of dollars in additional charges and fees.
You're only paying one monthly payment each month. What a relief it is not having to pay creditors that are scattered everywhere. Money is put into an account and the negotiation of a settlement begins. You can become debt free as you work to save more every month.
You will have plenty of time to pay on the settlement. Everyone can not make a lump sum payment as they negotiate the payments. The creditor will sometimes agree with this and include that in the settlement.
No more phone calls from creditors and collectors harassing you about something that has been taken care of. You get to avoid talking to them and the settlement representative will do it on your behalf. There are some other secrets that can help you avoid being taken. They are:
Who said you had to pay fees upfront? If the settlement company is legitimate, they will not ask you for fees upfront. You will be able to tell which companies are real and which ones are bogus just by this alone. No settlement or negotiation company should be getting a four or even a five figure fee from you at the beginning. In fact, you can find their fees in your monthly payments.
It's important that you check out the company that you want to represent you. Not doing that can cause you to head for trouble. There are many co-called credit card debt settlement companies that get busted for unethical practices all the time. All they want is your money and then they move on to the next unsuspecting victim.
If possible, it's a good idea to consult an attorney. You may have to hire one for representation if you should get taken by one of the debt settlement companies. They promise people things that they know they can not deliver. They are looking for money and will do whatever they need to in order to get it.
These are some of the secrets that have been disclosed as relating to credit card debt settlements. It is so important to check these companies out thoroughly. It's important for you to know whether or not they are the real deal or if they are just scammers trying to make a quick buck.