Can I do Credit Card Debt Settlement Myself?
The current state of the economy has affected people worldwide, as they work toward credit improvement; the people who have credit cards are statistically the majority of people suffering major debt. After using a credit card to catch up on other bills, such as utilities, groceries, and basics, it's easy to start being late with fees and finance charges. Then people are left with little money to pay off their credit card debt. Sometimes, the credit card company sends offers to help their customers pay off their debt more easily. It's important to take these offers from the credit card company seriously, and in the helpful spirit that they were sent in. There are two steps to be followed in order to make the process of credit card debt settlement go more smoothly.
1) Start by organizing all your credit cards and writing down the contact number, account number and amount owed for each card. This will help you determine how much you can afford to pay on the debt for each card.
2) The second step is to write down what you actually want to say. It's important to know what you'll say, because you want to keep the discussion clear of any sales spiels the credit card company's representative might try to lead you into. Request any deal offered in writing from the creditor every time you speak about debt settlements; that way you have a tangible record of all the offers.
While you're working to reduce debt by using the steps above, it's important as well to consider the points and guidelines we've describes in these next few paragraphs as well. For example, while you are trying to determine what to say to the representative of the credit card company, you're also going to have to come up with a strategy for getting a better deal on your debt settlement. Our recommended strategy is meeting with your credit card company's representative, or talking over the telephone, and tell them that on a specific date, you will have a lump sum of money that you wish to use to pay your credit card debt.
The key part of this strategy is letting the representative know that you plan to pay the company that offers you the best deal for settling your debt first. Call or meet with the representatives for each credit card company you owe debt to, and be sure that you ask for copies of the deals they offer, in writing. Then compare the deals they've offered you. The creditors may offer you a discount as large as 35% off the total amount you owe; but as previously stated, be sure that you receive a copy of this offer in writing.
By learning to negotiate with the creditors, you will be able to settle your credit card debts by working out a simple plan on your own. However, there are a large number of debt negotiation services that help you with settling your credit card debt. The service would collect a reasonable fee for its negotiations, however, so if you plan to use these services, be sure to compare prices before choosing one.
Learn to manage credit card debt settlements in Texas yourself, check out http://www.professionaldebtadvisors.com/Debt-Settlement.php
1) Start by organizing all your credit cards and writing down the contact number, account number and amount owed for each card. This will help you determine how much you can afford to pay on the debt for each card.
2) The second step is to write down what you actually want to say. It's important to know what you'll say, because you want to keep the discussion clear of any sales spiels the credit card company's representative might try to lead you into. Request any deal offered in writing from the creditor every time you speak about debt settlements; that way you have a tangible record of all the offers.
While you're working to reduce debt by using the steps above, it's important as well to consider the points and guidelines we've describes in these next few paragraphs as well. For example, while you are trying to determine what to say to the representative of the credit card company, you're also going to have to come up with a strategy for getting a better deal on your debt settlement. Our recommended strategy is meeting with your credit card company's representative, or talking over the telephone, and tell them that on a specific date, you will have a lump sum of money that you wish to use to pay your credit card debt.
The key part of this strategy is letting the representative know that you plan to pay the company that offers you the best deal for settling your debt first. Call or meet with the representatives for each credit card company you owe debt to, and be sure that you ask for copies of the deals they offer, in writing. Then compare the deals they've offered you. The creditors may offer you a discount as large as 35% off the total amount you owe; but as previously stated, be sure that you receive a copy of this offer in writing.
By learning to negotiate with the creditors, you will be able to settle your credit card debts by working out a simple plan on your own. However, there are a large number of debt negotiation services that help you with settling your credit card debt. The service would collect a reasonable fee for its negotiations, however, so if you plan to use these services, be sure to compare prices before choosing one.
Learn to manage credit card debt settlements in Texas yourself, check out http://www.professionaldebtadvisors.com/Debt-Settlement.php
