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The 411 on Credit Card Debt Settlement
The 411 on Credit Card Debt Settlement
What is credit card debt settlement and how can it work for you?
Los Angeles,
CA,
United States of America
(prbd.net)
09/04/2010
What is credit card debt settlement and how can it work for you? In simple terms, a credit card debt settlement is a negotiated settlement of credit card debt. For example if you owed $10,000 on a credit card and made an agreement with the credit card company to pay $5,000 instead of $10,000 as settlement in full on the debt, this would be a credit card debt settlement.
www.debtsettlement.bz
Firms who perform this type of work may identify themselves as debt management, debt reduction, debt relief, debt workout, debt settlement or a host of other names inferring they help with debt even sometimes including debt consolidation.
In regards to who is eligible for a debt workout to get out of credit card deb, creditors agree to debt reduction arrangements where they feel a settlement of the debt will be in their best interest. In most cases they come to this conclusion because the person requesting the debt negotiation appears to be a legitimate candidate for bankruptcy.
Knowing that in most bankruptcy cases they would receive nothing, they opt to take a discounted settlement on the debt rather than receive zero dollars in a bankruptcy. The consumer gets debt relief, the creditor get some money, and everyone ends up better than their worst options.
To learn more about credit card debt settlement and how to get started, please visit Debt Settlement at:
www.debtsettlement.bz
About
Debt Settlement is a debt relief program that is best suited and is most effective for consumers and businesses with larger amounts of debt, typically $5,000 and above.
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