Fast and Simple Debt Settlement

• Get a debt settlement and save between 40 and 80% of your existing credit card debt!
• A debt settlement offers hope to people who are drowning in credit card debt.
• Learn the difference between a debt settlement and debt consolidation.

If you are falling behind on your credit card bills a debt settlement from Bad-Credit-Cards-Repair-Reports-Bankruptcy-Counseling.com may be the right solution for you. A debt settlement company will negotiate a one time payment that is reduced by 40 to 80% of your current outstanding balance. Your creditor will accept this reduced payment as paying off that debt in full. Some debt settlement companies will even offer debt settlement programs where you space out making debt settlements with different creditors over time eventually paying them all back.

Although a debt settlement is a one-time, paid in full option, there are even ways to spread it out over time. Some debt management companies will offer a debt settlement program where you pay a portion of the debt settlement each month. They will hold the funds until you have paid enough money into the program for them to perform a settlement, and then they will send all the money at one time to your creditor. Although a debt settlement is a great form of debt relief, remember that settlements can look negative on your credit report. Beware of the downside of a debt settlement. But when you work to get out of debt, you are exercising your right to take advantage of your option to combine forces with the free debt settlement industry. Depending on the legislation of the day, interpretation of negative or positive effects can vary greatly. So never rule out one solution entirely until you've gone through the information yourself. Check out differences between for-profit and non-profit debt settlement.

Comparing Debt Settlement and Debt Reduction

A debt settlement is not the same thing as debt reduction. Although both are methods of eliminating credit card debt, debt counseling is where you consolidate debt into one low monthly payment. The savings between a debt settlement and debt counseling is different. Usually your reduced monthly payment is between 25% and 57% less than your current credit card bills. This compares to the 40% and 80% savings that a debt settlement offers. However, debt reduction offers a way to improve your credit rating by "re-aging" your accounts at the credit bureaus. This re-aging process reclassifies late accounts as current on your credit report. Debt reduction is a much more common method of becoming debt free than a debt settlement and is considered a lot less drastic of an action. Our questionnaire to the left is free and easy. Take advantage of it to be placed in contact with experts in the area of credit card debt settlement. The keys to debt elimination await all consumers in all situations.