==== ==== This article talks about how to eliminate credit card debt. http://www.whatisdebtelimination.com/how-can-i-eliminate-credit-card-debt/ ==== ====
Working with a debt settlement company to eliminate your credit card debt can be very costly. The fees these companies charge can cost you as much as you actually save! Although they're willing to extend the terms longer for you, thus reducing your monthly payment, working with a debt settlement company will often cost you more money in the long run. So how do you settle your credit card debts yourself? How a Debt Settlement Company Really Works A debt settlement company doesn't actually settle your debts for you. What they do is they negotiate your debt payments for you with all of your lenders, then collect one payment from you and distribute it amongst all your collectors. However, what they do for you is actually something that you can do yourself. How to Do it Yourself The first thing you should know is that negotiating all your loans takes a lot of time, energy and organization. It's very easy to make one small mistake that costs you a lot of money. That said, here's the process for settling credit card debt on your own. First, your loans must be late by quite a bit. To the point where you're getting collection calls on a regular basis. Credit card companies generally will not negotiate unless they really believe that you will not pay if they don't. That usually means you have to be delinquent for several months before they'll take your settlement seriously. Tell your collector on the phone that there's no way you can pay off your balance and ask if they can settle the debt for a lesser amount. Often times they'll even offer to settle before you ask. Once you reach an agreeable amount or percentage, ask them to send you a letter with the details. Always get a written agreement before proceeding. Do not take quotes on the phone at face value. If you follow these steps, you'll usually be able to negotiate a considerable amount from your credit card debts.
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credit repair [http://www.debt-relief-solutions.com/article-72-credit-repair.html] information that can help get you out of debt quicker.
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==== ==== This article talks about how to eliminate credit card debt. http://www.whatisdebtelimination.com/how-can-i-eliminate-credit-card-debt/ ==== ====