Are You Massively in Debt? - Simple Steps to Eliminate Credit Debt in 12-24 Months
Credit card debt is a major worry for many United States citizens nowadays.
Once your credit card loan gets in front, it is extremely difficult to eliminate it.
The balance that you owe on your credit card actually increases day by day.
A lot of interest adds to the debt and it becomes impossible for you to get rid of it.
So, is there any way to get out of this mess? The following steps can definitely make you debt free in 12-24 months.
1.
Stop using credit card at once.
If you are in debt, credit cards are a trap they can only sink you deeper in debt.
So throw the cards away right now.
2.
Find a legitimate debt relief company.
The best way would be to ask your friends or office colleagues if they know any company.
If not, then the internet is the best source.
Better use business bureau website and online debt relief networks that can help you find a trustworthy and legitimate relief company.
3.
For your secured debt opt for debt consolidation to consolidate these debts in one payment, the relief company can counsel you about which debts can be included in consolidation.
4.
For your unsecured debt opt for debt settlement.
In settlement the relief company negotiates with your creditor to reduce the debt.
This reduction is usually 40-50%.
Sometimes better negotiations can reduce them to as low as 60-70%.
When you have debt reduction, you pay just a portion of what you owe, the remaining amount is written off by the creditor.
It should be noted that when you settle your debt you are expected to make one time payment of the amount that you and the creditor settled for.
Actually, you pay the regular monthly installments of your choice in a separate amount to Settlement Company.
When the time is right they negotiate with your creditor to pay 40 to 50 percent of the net outstanding balance in exchange to waive off the rest of the amount.
By following these simple steps you can indeed get out of debt in 12-24 month time.
Once your credit card loan gets in front, it is extremely difficult to eliminate it.
The balance that you owe on your credit card actually increases day by day.
A lot of interest adds to the debt and it becomes impossible for you to get rid of it.
So, is there any way to get out of this mess? The following steps can definitely make you debt free in 12-24 months.
1.
Stop using credit card at once.
If you are in debt, credit cards are a trap they can only sink you deeper in debt.
So throw the cards away right now.
2.
Find a legitimate debt relief company.
The best way would be to ask your friends or office colleagues if they know any company.
If not, then the internet is the best source.
Better use business bureau website and online debt relief networks that can help you find a trustworthy and legitimate relief company.
3.
For your secured debt opt for debt consolidation to consolidate these debts in one payment, the relief company can counsel you about which debts can be included in consolidation.
4.
For your unsecured debt opt for debt settlement.
In settlement the relief company negotiates with your creditor to reduce the debt.
This reduction is usually 40-50%.
Sometimes better negotiations can reduce them to as low as 60-70%.
When you have debt reduction, you pay just a portion of what you owe, the remaining amount is written off by the creditor.
It should be noted that when you settle your debt you are expected to make one time payment of the amount that you and the creditor settled for.
Actually, you pay the regular monthly installments of your choice in a separate amount to Settlement Company.
When the time is right they negotiate with your creditor to pay 40 to 50 percent of the net outstanding balance in exchange to waive off the rest of the amount.
By following these simple steps you can indeed get out of debt in 12-24 month time.
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