SOURCE: Total Debt Relief

August 26, 2010 14:00 ET

Reducing Credit Card Debt: When to Seek Help From the Professionals

Sometimes Credit Card Debt Is Too Hard to Handle Alone: Total Debt Relief Tells When It's Time to Find Professional Help

MIAMI, FL--(Marketwire - August 26, 2010) - Credit card debt is like a financial disease. When left untreated it can get worse. Treating the symptoms doesn't help in the long run. Paying the minimum might appease the creditors on a month to month basis and keep one's credit score in check but over time the disease will keep getting worse. Much like being sick, people tend to neglect going to a doctor or a professional. The same can be said with credit card debt. As the debt keeps piling on, consumers tend to put it on the back burner.

Knowing when to seek debt relief assistance can be a tough call because it really depends on a consumer financial situation. As a general guideline if one has over $10,000 worth of credit card debt and can only make the minimum payments, or can't even make those, then it is probably time to seek the assistance of professional debt relief programs.

What programs are available that don't require bankruptcy?

Since so many Americans are finding themselves in a dire situation when it comes to credit card debt, debt relief alternatives have grown in the past few years. Searches for debt relief on the web have increased over time displaying a high demand for help.

The two popular methods of professional debt relief alternatives are debt consolidation and debt settlement.

Debt consolidation in its simplest terms is the combining of multiple debts into one big loan. By taking out a loan to cover all other debts owed, a consumer only has to make payments to one debt. Interest rates can also be subject to change as well as the overall payment schedule.

Debt settlement is the actual practice of debt elimination. By way of negotiation a debt settlement agent works with creditors to compromise debt owed. Consumers who enlist in this program will then make payments to the settlement company and the settlement company will then pay creditors on the newly negotiated terms. Successful settlement companies can eliminate up to 50% of the debt owed.

Consumers who are interested in professional debt relief services should seek out free consultations in order to see if they qualify.

Total Debt Relief offers a free consultation at their company website:

Contact Information

  • Contact:
    Rob Jones