SOURCE: Total Debt Relief

Totaldebtrelief.net

October 13, 2009 14:29 ET

Credit Card Debt: Consumers Maxed Out but Debt Relief Is Out There

CHICAGO, IL--(Marketwire - October 13, 2009) - As consumers with jobs continue to make strides in paying down credit card debt, others are not so fortunate and find themselves barely able to stay afloat. Debt relief options explained.

The U.S. economy finds itself at a strange juncture: top economists are mostly in agreement that the great recession has ended -- yet the creation of jobs will lag behind and take significantly longer to fully recover. During this time period consumers find themselves in a credit crunch like never before.

Credit Card Debt is being addressed by many like never before. The Federal Reserve is reporting that overall consumer debt has dropped for the 7th straight month. The recession has been a real eye-opener. Yet others are sorely in need of help. This is where debt relief comes in.

Debt Relief comes in the form of many programs and services and there really is no one-size fits all type of deal. What works best for one's circumstances and financial situation might not necessarily work well for another's situation. While many consumers believe they are familiar with bankruptcy, many do not have an understanding of the harmful repercussions of a bankruptcy filing.

Bankruptcy causes the filer's credit score to hit an all-time low. The bankruptcy will remain on the public record for up to a full 10 years in many states. During this time, obtaining any sort of credit will be next to impossible. They would be required to pay heft deposits on any future home utilities ordered (gas, electric, water, cable, phone, etc.) They would be denied an apartment rental. And they could very well be denied a job, as more employers are performing credit checks as part of their routine job applicant screening process.

Debt Settlement however is able to achieve great reductions in credit card debt -- without the collateral damage of a bankruptcy filing. This program works by a debt settlement firm negotiating with the consumer's creditors in order to extract concessions in the amount of debt that is owed. In almost all cases, debt settlement is able to achieve 50% reductions in credit card debt, with 75% reductions in credit card debt a very real possibility. This is true debt relief.

Total Debt Relief offers consumers a free debt evaluation which they can take advantage of at: www.totaldebtrelief.net

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