SOURCE: Total Debt Relief

TotalDebtRelief.net

September 24, 2010 12:30 ET

Consumers Eliminate Credit Card Debt Despite Harsh Economy

Americans Find Debt Relief Programs to Eliminate Credit Debt Amidst Growing Consumer Debt; Total Debt Relief Tells Where They Found It

HOUSTON TX--(Marketwire - September 24, 2010) - A recent poll conducted by American Express revealed consumers are more interested in saving money than paying off credit card debt and other debts. These past few years have been hard on the average American. Thousands of hard earned dollars have gone to outrageous credit card interest rates. Consumers are now trying to make up for the money they've spent paying off credit card debt. Unfortunately, many Americans don't have the luxury to put money into their savings. Some Americans still have enough credit card debt that they will be paying it off for years to come depending upon their income and debt amount.

For those consumers in search of credit card debt relief in order to begin saving, there are programs available that can speed up the credit card debt elimination process. Some consumers tend to jump the gun when it comes to bankruptcy. Bankruptcy is not the only debt elimination program. In fact depending on the chapter of bankruptcy some debts will still have to be paid off after declaration.

If credit card debt is the majority of a consumer's debt, a program called debt settlement might be a possible option. This debt relief program is designated towards eliminating unsecured debts such as credit card debt. Debt settlement specialists negotiate with creditors and lenders such as the big banks behind credit cards. Debt settlement specialists try to arrange a compromise with these creditors to get a lower debt amount and an organized payment plan in which a consumer can be out of credit card debt in 24 to 36 months.

In some situations, creditors are willing to work with settlement agents in order to get up to 50% of the debt owed as opposed to bankruptcy, in which case they would get little to nothing. If successful, both the creditor and debtor will have a mutual benefit. Creditors will collect something as opposed to nothing and the debtor will achieve debt relief without declaring bankruptcy.

Total Debt Relief offers a free consultation that can be taken advantage at their company website:
www.totaldebtrelief.net

Contact Information

  • Contact:
    Rob Jones
    877-224-4592