Credit Card Debt Relief

Have you noticed that most of your money seems to be going to credit card interest and the needle never seems to move in the right direction on your balance due? Do you envision yourself stuck in an endless cycle of making minimum payments and gritting your teeth with each bill that comes? You might hate the thought of it, but have you considered that filing for bankruptcy may be your only way out?

If debt is starting to take control of your life and taking a toll mentally, physically, and emotionally, you don't have to stay in that cycle, and you don’t have to file for bankruptcy. You can learn about another option that will bring you credit card relief – an option that is not as drastic as bankruptcy but is effective at helping you break free from credit card debt.

You are in the right place to find out the answers to those questions asked above. Here's what you will discover as you read on:

• How do you know if you need credit card debt relief?
• What are the leading causes of credit card debt?
• How does credit card debt relief work
• How much can you save with debt settlement?
• How long does it take to settle credit card debt?
• What should you look for in a debt settlement company?

Credit Card Debt Relief: Know When You Need It

Contrary to what many people believe, you do not have to wait until you have "hit rock bottom" financially before finding credit card debt relief. In fact, if you are beginning to recognize that your credit card debt is problematic, it is better to be proactive than to wait to get help.

Consider these telltale signs of debt trouble:

• The amount you owe exceeds the capacity to pay on time. You may be able to pay some bills on time, but you may also miss payments sometimes, finding yourself accruing extra penalties such as late fees and increased interest rates.
• You may be receiving calls from creditors or from collections agencies and you do not know what to say or do. You may feel unable to manage your money effectively.
• You worry about your debts and credit card bills to such an extent that it interferes with your normal functioning or you lose sleep over them.
• You find it impossible to stick to your budget and feel like you are dealing with debt daily as you spend more than you earn.
• Even though you worry about debt, you find yourself engaging in "retail therapy" to feel better.
• You feel your creditworthiness has been impacted by the amount of debt you are carrying, which has made other attempts at debt relief options unavailable to you.
• You feel shame about your spending habits and try to hide your debt problems from your friends or family.
• You feel that you will never get out of debt, no matter what you do.

Causes of Credit Card Debt

There are a lot of reasons people go into credit card debt. Going into debt is not necessarily a sign of financial irresponsibility, so if you find yourself in credit card trouble, it should not be a source of personal shame or stigma.

The leading causes of credit card debt are:

How Does Credit Card Debt Relief Work?

• Debt consolidation loans brings your credit card debt under the roof of a single loan. To consolidate your credit, this loan will preferably feature a lower interest rate than what you are currently paying to your creditors to help you pay off your debt more efficiently.
• Credit counseling combines your debts into a single bundle, lowering the cost of your credit. It instills some much-needed discipline in your finances.
• Bankruptcy may be a solution if you are buckling under the burden of your credit card debt. This credit card relief method uses a legal avenue that allows you to discharge some of your debts while paying off the rest in a structured, disciplined way.
• Debt settlement is a form of credit card relief in which you work with your creditors toward a realistic debt reduction plan. In most cases, it is best to do this with the help of a debt settlement company that uses professionals to negotiate with your creditors on your behalf. Through debt settlement, your creditors may forgive a portion of your principal debt so you end up paying less than you owe. Contact ClearOne Advantage to learn more about how debt settlement works.

How Much Can You Save with Debt Settlement?

Creditors are often willing to make considerable concessions through debt settlement. Through debt settlement, they can recover money from debtors they could not get back otherwise.

How much can you save with debt settlement? To illustrate, consider Dan's story.*

Dan works hard every day and has always been conscientious about paying his bills on time.

Unfortunately, Dan had an accident last year and the medical bills mounted up quickly. Dan paid his medical bills with a credit card, expecting to use money from an insurance settlement to pay the card off before it became a problem.

The settlement did not come through, and now Dan is struggling to pay the minimum payment each month on a credit card with a balance of $26,000 and an interest rate of 18%.

*”Dan” is an example of a typical ClearOne client, whose experience is a combination of the thousands of clients who are in the ClearOne program.

This is just one example, but it reflects the overall reality of debt settlement. According to the American Fair Credit Council:

How Long Does it Take to Settle Credit Card Debt?

The American Fair Credit Council states that 76% of those who enroll in a debt settlement program settle at least one account in the first 36 months of the plan, and 54% settle more than half of their debts in 36 months. The average debt settlement enrollee settles around 51% of his/her debt in the first 36 months.

How quickly you can resolve your debt depends on your income and the amount of money you can allocate to debt settlement. It also depends on the size of your debts, and the deals your debt settlement firm can secure for you. Complete debt settlement should not take longer than four to five years.

Can I Negotiate Credit Card Debt Settlement on My Own?

Yes, you can, but that doesn't mean it's the best idea. If you are an expert negotiator with knowledge of how debt settlement works and loads of time and patience, you can contact your creditors directly, one by one, and obtain written agreements covering all the legal terms of your settlement deal. Or you can work with a trusted debt settlement company like ClearOne Advantage and let it do all the work on your behalf.

A debt settlement company has more clout than an individual debtor, not to mention more experience, so they can negotiate from a better position than individual debtors.

What to Look for in a Debt Settlement Company

Your debt settlement company should have a good reputation and offer a 100% satisfaction guarantee.

Look for a high rating on TrustPilot and positive client feedback on the services debt settlement companies offer. Make sure that you opt for the services of an entity that has helped thousands of customers already.

Contact the debt settlement company and after your initial conversation, ask yourself these questions.

• Is this debt settlement company committed to working out the best solution for my situation?
• Does it possess the tools and resources to help me achieve my goal of freedom from debt?
• Does it have a team of skilled negotiators and debt specialists capable of obtaining a good debt settlement deal for me?
• Can I afford the services of this debt settlement company without further exacerbating my financial situation?

Let ClearOne Help You Settle Credit Card Debt

By partnering with ClearOne Advantage, you secure the services of a dedicated team of professionals whose goal is to negotiate the best possible deal on your behalf.

• ClearOne Advantage does not charge you upfront fees and offers personalized plans to suit your needs.
• Our Certified Debt Specialists make sure that you understand all the details of your debt settlement plan before you commit.
• We give you access to an online portal through which you can track your debt settlement progress in real time.
• Our expert negotiators have years of experience working out the best settlement deals for our clients.
• Our Client Relations Specialists support you throughout the debt settlement process to keep your efforts on track.