SOURCE: Total Debt Relief

March 04, 2010 15:06 ET

Credit Card Debt Relief Bailout: Consumers Benefiting

Consumer Credit Card Debt Balances Continue to Drop as Thousands Take Advantage of New Credit Card Debt Programs; Explains

MIAMI, FL--(Marketwire - March 4, 2010) - Consumers and businesses from coast to coast have been taking advantage of credit card debt relief programs in droves in recent times, helping to bring the overall total consumer debt down by $1.73 billion at the end of the past year.

The new generation of credit card debt relief programs differs in many ways when compared with credit card debt relief programs of previous generations, such as the 1980's. Whereas in times past, consumers and businesses that were suffering under the unbearable weight of credit card debt only had bankruptcy available to them, (the "nuclear" option), today's debt relief programs are able to achieve spectacular reductions in the amount of debt that is owed -- without all the harmful consequences of a bankruptcy filing.

One of the most widely known of these debt relief programs is Debt Consolidation. This type of program works by a debt counselor working on behalf of the consumer or business in debt to restructure their payments to find a debt solution that works for all parties involved. Consumers and businesses that go this route can typically expect a custom-tailored solution, assistance with creating a new, (or first), monthly budget, and the ease and convenience of having only a single debt payment to make at a new, lower amount than the sum of their previous combined monthly debt payments.

No bankruptcy involved.

One of the newest and most effective debt relief programs today is known as Debt Settlement. Different from debt consolidation, here's how it works:

Consumers and businesses that are suffering financial hardships from credit card debt, or who simply wish to lower the amount of debt which they owe, can have a debt settlement firm negotiate on their behalf with their creditors. This debt relief process is also known as Debt Negotiation and Debt Arbitration. The outcome of debt settlement is a concession from creditors in the amount of debt that is owed. In most cases, debt settlement achieves a 50 percent reduction in debt -- or more.

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

Contact Information

  • Contact:

    John Chase
    877-244-2950 x 7016