Credit card debt elimination
programs will help you get
rid of your debts without requiring you to sacrifice your hard-earned income to pay them off.

Debt elimination programs may also
help you establish a monthly operating
plan. This means that these may help you compile all of your debts into one payment or show you how to
effectively get hold of your
creditors to barter payment
plans and reduce interest rate charges.

You can possibly eliminate debt by paying under the
full balance–if your creditor agrees. A debt settlement program is available only for unsecured debts such
as credit cards. Oftentimes, creditors would negotiate with you rather than sell your debt to a ?collection agency. According to The
New York Times, some card companies sell accounts to collection companies for
10-25% of the balance.

Legitimate consumer credit card debt elimination programs should never charge you an upfront fee, but should only charge
a fee when the accounts are
successfully negotiated. If you find yourself in debt, you only have to pay the amount that you owe.

Although this looks like a
huge relief for many, lots of people are worried that credit card debt relief may negatively impact their credit
rating. This is understandable since they
fear that their FICO score will drop if it is enrolled in a credit card debt negotiation program. And this is totally
understandable.

The simple truth is, your
credit score will decrease while you?re in the program. Why?? Because creditors will not negotiate
settlements with individuals if they are current on their payments-they have no
incentive. However, do not
forget that any drop from your credit
score is temporary. When you
eliminate your ?bad debt? and
settle your accounts with your
creditors, your credit rating
will improve.

If you have too much credit card debt and you are struggling, the only
method to eliminate your debt
quickly is to pay them off
through debt elimination programs or file for bankruptcy. Debts are
usually never forgiven by creditors, and
there are not any federal government
grants for eliminating consumer
debt. If there were, you would have
certainly heard about it in the news. Good luck!

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Joseph
Hernandez is the CEO of Debt Free
Solutions, a debt consulting agency located in Long Beach, CA.?