Saturday, September 29, 2007

Debt Consolidation VS. Credit Card Debt Settlement

What is the difference in Debt Consolidation and Debt Settlement?

Understanding this topice will save you thousands of dollars.
Debt Consolidation
This is used less often today because its main purpose is to consolidate all your debts into one low payment at a lower interest rate. The way this happens is you pay a company closing costs and fees to take out a home equity loan or another secured loan which pays off all your existing credit card debt. Sound good?

Credit Card Debt Settlement
Just in the last few years, this method is becoming widespread.
You don't just consolidate your debt - you actually cut your credit card debt balance in half.
Debt settlement offers lots more advantages than debt consolidation. You reduce and eliminate your debt. You save alot more money with debt settlement since this service cuts your debt by over 50%. There is NO credit card check.

Only some dedt settlement companies have attorneys working with them. This assures you that the system is working for your. The attorneys simply contact ALL your credit card companies and give them all the legal mumbo gumbo and negotiate your debt with each company one by one. And there is no charge for the attorney service. AND you can call the attorney directly and ask them any questions. They can stop the hassling creditor phone calls by issuing a cease and desist order. The attorneys work on your behalf and literally save you thousands of dollars.

Many companies out there will GUARANTEE that with their attorney negotiating for you that they will cut your credit card debt outstanding balance by over 50%.

In order to qualified for this special program, you must have a hardship which means if you have had a few late payments, then you definitely have a hardship.

And these debt settlement companies usually have a free debt consulation and analysis.

One company that I usually recommend that will tell you the whole truth about how you can easily get out of debt is credit card debt settlement.

If you qualify for this program and you don't jump as quick as you can then you have got to be plumb crazy.
So don't wait any longer - it's free - and come back and tell your story of how much you saved.

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