SOURCE: Total Debt Relief

September 21, 2010 18:00 ET

Consumers Receive Credit Card Debt Help Without Dipping Into Savings

Instead of Spending Hard Earned Savings to Pay Off Credit Card Debt Consumers Are Finding a Debt Relief Alternative; Total Debt Relief Explains

DALLAS, TX--(Marketwire - September 21, 2010) -  Lately US consumers have been using various savings and investments to pay off credit card debt. Recent research has found a direct correlation from consumers cashing in investments such as CDs to pay down credit card debt directly. Instead of these savings going to retirement and leisure as they were intended they are now going to credit card bills in order to achieve debt relief.

This doesn't seem fair that due to hard economic times and therefore less cash flow, consumers are using hard earned saving to pay off credit card debt. Those consumers who find themselves with a big credit card debt amount (anywhere of $10,000) should know there are professional services aimed at credit card debt relief.

Since credit card debt is a secured debt meaning there is not collateral or assets that can be repossessed, there is a way to negotiate the debt. There is a professional debt relief service called debt settlement in which a professional debt relief agent works with creditors to lower overall credit card debt amounts.

In some situations it's better for both the consumer in debt and the creditors to form a compromise on the debts owed. Debt settlement is simply the mediator in this arrangement. Certainly consumers can try to negotiate debts on their own behalf, but it can be a complicated and a difficult process. Legitimate debt settlement companies that have successfully settled debts already have a set process in order to negotiate debts effectively making the negotiation process run smoother.

If a negotiation is successful up to 50% of the debt owed can be erased in 24 to 36 months. There is however one major drawback; a consumer's credit score will be affected after a negotiation. One must weigh the consequences versus the benefits before deciding to enroll. Speaking with a debt relief agent can help determine if debt settlement is the correct move.

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

Contact Information

  • Contact:
    Rob Jones