SOURCE: National Debt Relief Program

National Debt Relief Program

June 23, 2010 11:08 ET

Best Ways to Reduce Credit Card Debt: Consolidation and Relief Explained

With Personal Debt Remaining High and the Possibility of a Double Dip Recession, National Debt Relief Discusses Credit Card Debt Consolidation and Relief Options

SAN FRANCISCO, CA--(Marketwire - Jun 23, 2010) - Credit card debt relief is needed today like never before. With personal debt remaining high and increasing talk of a possible double dip recession, many people continue to seek ways and means to eliminate record amounts of personal debt, particularly credit card debt.

In this era of the credit card bailout, credit card debt consolidation is often considered and explored as a possible solution by those who are buried in credit card debt today. Keeping up with the Joneses has gone by the wayside as individuals and families do what is necessary to simply stay afloat. The good news is that credit card debt can be reduced and large amounts eliminated with the use of credit card debt relief programs.

These include:

Credit Card Debt Consolidation -- In this credit card debt relief program, a new loan is typically taken out to consolidate multiple credit card balances. These outstanding credit card balances are actually paid off, and a single loan monthly loan payment is left to manage.

Credit card debt consolidation is often achieved through the taking out of a home equity loan. For credit card debt consolidation to be effective, a person must be on a relatively stable financial footing and able to continue making the new monthly payments.

Credit Card Debt Settlement -- In this credit card debt relief program, a debt relief or debt management firm negotiates on behalf of the person in debt with their creditors to settle for an amount that is much less than the original balance owed. Credit card debt settlement can often achieve debt reduction and debt elimination of up to 50%.

For most people it's a matter of simply speaking with a debt relief service regarding their credit card debt situation and learning exactly how much credit card debt relief they can expect, and then deciding if credit card debt relief is right for them.

National Debt Relief Program, a non-government debt relief program, offers a free debt evaluation and savings quote which can be taken advantage of at their website:

www.nationaldebtreliefprogram.org

Contact Information

  • Contact:

    Natalia Kobseva
    415-247-0107