April 09, 2010 14:00 ET

Credit Card Debt Relief Bailouts That Don't Require Bankruptcy

DALLAS TX--(Marketwire - April 9, 2010) -  Thousands of Americans are starting to find alternatives to bankruptcy and achieve debt relief. explains how it works.

With all the various stimulus packages and health care reforms taking place today, it's safe to say the times are changing. More consumers are in need of help and are demanding assistance. This especially holds true with consumer debt. In 2008 the U.S. Population had an estimated $972 billion worth of credit card debt. In past times, bankruptcy tended to be the only option for major credit card debt relief. This left consumers without any form of credit for up to 10 years. Fortunately 2010 offers improved debt relief programs that can eliminate debt without having to declare bankruptcy.

Although bankruptcy alternatives have been around for the past decade, they are now more regulated and effective. These new regulations have made it easier for debt relief companies to assist millions of Americans in debt. Declaring bankruptcy, on the other hand, has become more difficult. Stricter guidelines have been placed within each bankruptcy chapter. Certain bankruptcy chapters require debtors to pay back a large portion of their debt.

Perhaps the most popular and effective debt relief programs available are debt consolidation and debt settlement. Debt consolidation works to combine a consumer's debts into one, while paying a fixed interest rate. Debt consolidation companies work with creditors to form a payment plan that works well with both parties. Some consolidation programs are also able to negotiate lower interest rates. This helps to get debtors out of debt quicker. When all is said and done, consumers still wind up paying the full debt amount.

With debt settlement, a consumer can wind up paying half of what they actually owed to their creditors. Debt settlement firms work with various creditors and credit card companies to negotiate debt on a consumer's behalf. Over the past few years debt negotiators have formed well established relations with creditors, making the process easier and more efficient. In some cases consumers are able to eliminate all of their credit card debt in 24 months.

Total Debt Relief offers consumers a free debt evaluation which can be taken advantage of at their website:

Contact Information

  • Contact:
    Rob Jones
    2500 CityWest Blvd. Houston TX 77042