Credit Card Debt Settlement
Ninety percent of American’s have credit cards. We have credit cards to help us finance purchases that we do not have the spendable cash for. They are very convenient and easy to use. In fact, sometimes they are too easy to obtain and use.
How Did I Get Myself in So Much Debt
It is very easy to find yourself drowning in credit card debt. When you obtain a credit card there is usually an introductory interest rate anywhere from 0%-2%. Unfortunately, most people do not take the time to read the fine print on the customer agreement form. This introductory interest rate will only last for a short period of time and then it will sky rocket to around 18%. If you only make the minimum payment on a one thousand dollar balance, with an 18% interest rate, it will take you ten years to pay off the balance. Credit cards can also be addicting. Most consumers have three, four and sometimes as many as five credit cards.
How Can I Reduce My Credit Card Debt
Unfortunately, no matter how responsible you are, you will need help in eliminating your credit card debt. Thankfully as consumers we have options such as credit card debt settlement. Credit card debt settlement will help you achieve your goal of being debt free. If you are struggling to pay your credit card bills then you might want to consider trying to settle your credit card debt. With the help of credit card debt settlement you could possible only be required to pay forty percent of the total debt. You can do this by contacting your credit card company directly and tell them that you want to settle your credit card debt and they will make you an offer in writing. If you agree with their offer then all you have to do is accept it and pay the amount that is agreed upon.