SOURCE: Total Debt Relief

August 24, 2010 15:30 ET

Getting Out of Credit Card Debt With Debt Relief Programs

Many Consumers Are Starting to Turn to the Professionals for Credit Card Debt Relief: Total Debt Relief Reveals Where to Find the Debt Relief Pros

LOS ANGELES, CA--(Marketwire - August 24, 2010) -  Whether Americans like it or not debt has become part of its economic structure. Big business, government, and consumers alike are all struggling to pay down various debt loads. Unlike big business and government consumers don't have the ability to print more money or get a nice big debt bailout. Instead they are left with massive credit card acquired through these rough financial times and interest rates that will keep them there for years to come with a desperate need for debt relief.

Average consumers should know they are not alone when it comes to credit card debt. 3 out of 4 American households have multiple credit cards and the average balance is around $10,000. These scary numbers suggest Americans are in need of a bailout, and unfortunately the government does not provide what many consider a bailout. Fortunately, there are debt relief alternatives that aim for credit card debt freedom.

While bankruptcy might seem like the obvious choice for total debt relief, it is often misunderstood and used unnecessarily. Bankruptcy is the process of halting creditors from further collection through a judicial process. The process involves a lawyer, which can be costly in itself, and depending on the chapter, sometimes debts owed have to be paid back.

A growing industry known as debt settlement has gained a lot of attention recently. This program is a debt relief program that implements a negotiation process in order to form a compromise with creditors and debtors. If negotiations are successful a consumer in debt may only pay up to 50% of the debt they owe. This program is geared towards those with relatively high amounts of credit card debt or unsecured debts.

Before a consumer enrolls in any debt relief program, either bankruptcy or debt settlement, they should seek out an interview with a representative from prospective firms in order to determine if their financial situations require professional debt relief assistance.

Total Debt Relief offers consumers a free debt evaluation at their company website:

Contact Information

  • Contact:
    Rob Jones