SOURCE: Total Debt Relief

June 09, 2010 16:00 ET

Credit Card Bailout Programs That Help in Avoiding Bankruptcy

Bankruptcy Is Not the Only Debt Relief Option Giving Consumers a Fresh Start; Total Debt Relief Tells of Other Effective Debt Relief Programs

PHOENIX, AZ--(Marketwire - June 9, 2010) -  Bankruptcy tends to have a strong market share in the debt relief industry. Big businesses, celebrities, and the average Joe can all participate in the program. What some consumers don't know is that the debt relief industry has changed over the past several years. Not too long ago Americans had two choices for debt relief, debt consolidation and bankruptcy. Due to recent economic condition the debt relief industry is forced to expand and include other alternatives to bankruptcy. Fortunately, in some cases avoiding bankruptcy can help a consumer more than by declaring bankruptcy.

Debt consolidation is one of the most popular alternatives to bankruptcy. In this program a consumer's various debts are lumped together in one consolidated loan making payments more organized and less complicated. Some consolidation programs are also able to lower the overall interest rates and lower payments on a per month basis in exchange for a longer payment plan. Consumers who enroll in this program still wind up paying a majority of the debt owed.

Unfortunately certain Americans are finding their credit card debt too overwhelming to pay back in full and desperately seek for a debt bailout. Some Americans are seeing advertisements for various government credit card bailouts. Consumers should know such government bailouts do not exist for personal debt relief; they are merely marketing tricks used to gain people's attention.

A debt relief program called debt settlement would be the closest form of a credit card debt bailout. A debt settlement firm uses pre existing relations with banks and creditors to negotiate debts on behalf of the consumer. If qualified, in a 24 to 36 month period, a consumer will pay up to 50% of the original debt owed. This debt is wiped clean and does not have to be paid back. Once the program is complete a consumer will no longer have credit card debt.

Total Debt Relief offers consumers a free debt evaluation which can be taken advantage of at:

Contact Information

  • Contact
    Rob Jones