SOURCE: Total Debt Relief

April 20, 2010 12:00 ET

Credit Card Debt Relief Needed Now More Than Ever: Where Consumers Are Finding Relief

LOS ANGELES, CA--(Marketwire - April 20, 2010) -  People from all over the country are benefiting from various credit card debt relief programs even in today's credit stricken economy. With the average American in $8,000 worth of credit card debt, these programs are needed now more than ever. Total Debt Relief shows where to find it.

Debt relief is perceived differently today than in past times. By now most Americans have heard of the various programs available such as bankruptcy, debt consolidation, and debt settlement, but they are still vastly misunderstood. Over the past 20 years bankruptcy laws have changed and become stricter to declare. Unfortunately, many Americans are too rash in their decision to declare bankruptcy. In 2009 bankruptcy filings increased by 32%. In some cases a portion these bankruptcies could have been avoided with available bankruptcy alternatives.

As credit cards have become more available, the needs for credit card debt relief programs have risen. Over the past decade programs such as debt consolidation and debt settlement have become recognized in their ability to reduce high credit card debt amounts, without the harsh consequences of bankruptcy.

Debt consolidation is a well know debt relief option that works to re-structure payments to creditors. Professional debt consolidation companies attempt to compromise payment plans that will work for both the consumer and creditor. Consumers that choose this method often find themselves with a custom made payment plan, with their various debts combined into one. Sometimes consolidation programs are able to negotiate interest rates or extend payment periods. Those who participate in such programs still wind up paying a majority or all of their debt owed.

Debt settlement on the other hand, works to actually lower overall debt amounts. When successful a debt settlement program can eliminate up to 50% of the original debt. The debt eliminated does not have to be paid back at any time, it is simply erased.

The process:
A debt settlement professional will contact creditors on a consumer's behalf and negotiate their overall debt amount. These professionals have pre-existing relationships with most major creditors and are trained in the art of negotiation. When successful, a negotiation takes 24 to 36 months to complete. Once completed, the consumer will have paid off the debt owed.

Total Debt Relief offers a free debt consultation at the following address:

Contact Information

  • Contact:
    Rob Jones 877-224-2950 ex 7016