Having a credit card is a heavy responsibility. For most of us, we get carried away with spending carelessly and not realizing the consequences we may have to face later on. Credit card debt is an overwhelming situation that almost seems impossible to get out of. The continuous phone calls from debt collectors doesn’t make it easier either.
With every problem in life, there is a solution. There are many companies out there offering credit card debt settlement.
Thousands of people are often too scared to deal with settling credit card debt on their own, so they seek help from a professional credit card settlement company.
Debt Settlement Companies
Debt settlement involves the company negotiating with your creditors to allow a lump sum payment to eliminate your credit card debt. There are many companies that offer this type of debt relief. You may have seen their late night ads on T.V. or maybe in the yellow pages.
However, not all companies should be trusted. Some of these companies advertise a fast and easy debt relief process. This is false. The process of settling credit card debt is a journey and can become stressful at times. To avoid this, it is recommended you research and interview the companies you are considering to help you with credit card settlement.
Finding a good credit card debt settlement company
There are a couple of qualifications you should keep in mind of when searching for a credit card settlement company:
How many customer complaints does the company have? Finding the customer complaints of a company is easy. Simply do a google search of the company and business review websites will appear. You can visit these websites and view how they treat their clients. A good company will have a couple to zero customer complaints. Their positive reviews should outweigh the bad reviews.
They have a good rating from third party review sites. The company you consider to hire for settling credit card debt should have a high rating from real validated customers. A reputable company will have 5-star reviews from their customers over an extended period of time.
The company will be a member of the American Fair Credit Council. The AFCC promotes good practices in the debt settlement industry. To be a member, the company must follow a set of strict guidelines.
Is the company member of the International Association of Professional Debt Arbitrators? Debt settlement companies that are members of the IAPDA have gone through additional training and a certification process.
These are just a few qualifications that should be checked off your list when researching companies.
Pros of hiring a credit card settlement company
There are many reasons as to why you should have a professional settling credit card debt for you. A professional company has the experience with dealing creditors. They know exactly what to say and what to ask. A professional will search for the lowest lump sum to settle your credit card debt.
These trained professionals are here to help you. They will save you years of stress that would accumulate from annoying creditors. You will not have to deal with their phone calls, the debt settlement company will. These credit card debt settlement companies have two goals; to get you to be debt free & to get you to become stress free.
Another reason for hiring a credit card debt settlement company is because it is a debt solution that is often evaluated before bankruptcy.
Often times, creditors would rather settle on a low lump sum than not get anything because you filed for bankruptcy.
Let’s wrap things up
Nobody wants to be in credit card debt. The feeling and stress is unbearable. Settling credit card debt with a professional company is an option that should be seriously considered. Credit card debt settlement will help you cure your debts in less time, especially with the help from professionals. Take time to research credit card settlement companies and educate yourself on the topic of credit card debt settlement. Just because you are in credit card debt alone, it does not mean you have to deal with it on your own.