Debt Relief

If any of the following statements apply to you, you may be in need of credit card debt relief:

You barely make minimum payments on your credit cards.

You get calls from debt collectors.

You don't have any savings.

You lose sleep thinking about your debt.

Your debt is putting an added stress on your marriage.

You're afraid to look at your statements each month.

You're at or near your credit limit on your credit cards.

You've been denied credit.

National Debt Relief Group provides Debt Settlement as a form of Credit Card Debt Relief

Debt settlement, also known as debt arbitration or debt negotiation, is an approach to debt reduction in which you and your creditor agree on a reduced balance that will be regarded as payment in full. Debt settlement involves negotiating with credit card companies to lower the amount that you owe. Considered to be one of the most effective approaches to credit card debt relief, some consumers may be able to settle their debts for less than they owe and achieve the goal of being debt free on their credit cards, assuming they successfully complete the program and each of their accounts are settled. Clients will enjoy one, low monthly program payment. You can click here to read more about debt settlement.

Credit Counseling as a form of Credit Card Debt Relief

Credit counseling involves working with credit card companies to lower interest charges. With consumer credit counseling a consumer is debt free in 4 to 5 years and able to save money on high interest credit card charges. It may be the appropriate debt relief option for consumers that are paying more than the minimum payment on their credit cards, but are still bothered by high interest charges.

Debt Relief with a Chapter 7 Bankruptcy

Chapter 7 bankruptcy is considered a last resort of most consumers because of the severe credit implications. That being said, for consumers who owe a lot on credit cards and do not have an adequate income stream, then this may be a suitable debt relief alternative. In a Chapter 7 bankruptcy, a debtor liquidates non-exempt assets of value and pays the creditor with the proceeds from their sale. For consumers who do not have any assets of value or ones that are exempt in their state, they do not have pay the credit card companies anything. In many cases, Chapter 7 bankruptcy is the fastest and cheapest credit card debt relief option available.

Debt Relief with a Chapter 13 Bankruptcy

Chapter 13 bankruptcy is considered by some to be the worst credit card debt relief option for consumers because it has all the negative credit implications of a personal bankruptcy filing, but you still have to pay back at least a portion of the debt. In a Chapter 13 bankruptcy, you may have to turn over your disposable income to the courts for up to 5 years before you are finally relieved of your obligation to pay back the debt, and it is widely used as a debt relief solution for secured debts like mortgages and automobiles, not credit cards. One should always speak to a licensed attorney to determine whether bankruptcy is a suitable option for them.

NationalRelief.com can help you find the right solution with a free consultation. You can fill out our Short Application and one of our debt specialists will contact you within minutes, or you can call now – (888) 703-4948.