I have too much credit card debt and need debt  settlement advice.

 What are my options?

 When overwhelmed with too much unsecured credit card debt, before you decide on a course of action, take some time to analyze your unique situation.

Can you meet the total minimum payments on all of your cards?

If the answer is no, then Debt Settlement may be the best choice for you. 

How does Debt Settlement work?

Instead of continuing to make normal minimum monthly payments that do little to reduce the original principle, determine how much you an set aside each month in a savings or reserve bank account with a qualified Debt Settlement Company.

These funds will be used to negotiate a settlement of you account in the future.

Can I negotiate settlements on my own?

Yes, but understand that the collectors you will be dealing with are trained professionals.  Their job is to get as much money out of you as possible and they will use every technique possible to do so!

Most Debt Settlement Companies have experienced, trained negotiators who may be able to settle you debts at 30%-40% and even including their fees, the total may be less than you would be able to negotiate on your own.

It also takes a lot of time to negotiate a settlement.  If you do not have the time or patience, you may end up spending much more than if you hired a professional debt settlement company.

What happens after the settlement?

Before you agree to a settlement, make sure, absolutely sure, that you get the agreement in writing before authorizing a check-by-phone or sending any money!

It is not uncommon for unsuspecting credit card customers to be lied to when negotiating a settlement.  Remember...NO WRITTEN SETTLEMENT AGREEMENT...NO DEAL!

Once the settlement is completed, you should request a letter stating the account has been settled-as-agreed.

If you do not receive a letter, then contact the creditor until you get one.  Do not be surprised if it takes a couple of months!