How To Get A Credit Card Debt Reduction Of 50% Through A Proven Negotiation Tactic

May 11, 2010 - PRLog -- Credit cards on one hand have helped a lot during the times of crisis and emergency but at the same time due to uncontrolled usage, they have also created a lot of trouble for the consumers in form of increasing and uncontrollable debt that accrues due to the high interest rates. The problem became even more serious because of the recession that has hit the US economy. Thousands of people have lost their jobs and they are unable to repay the creditors and becoming defaulters. Many have filed for bankruptcy without knowing the consequences which hits the financial backbone of a consumer for the years to come.

However, there are other alternatives that can help the consumers to get rid of the credit card debt in a legal and realistic way without impacting the credibility. The best option to do so is to go for debt settlement that helps to eliminate at least 50% of the card debt that has accrued.

If the consumer has an overall debt of $10,000 or more, the best thing that he or she can do is to contact a professional debt settlement company which has a complete knowledge and understanding of the banking system. They are also aware of the loopholes which help the consumers to come out of the debt that has ruined their life.

The professional negotiator from the company will advise the consumer to go delinquent and stop paying the creditor. Once this happens, the creditor waits for a period of 90 days to 120 days and then sells off the debt to a collection agency for as low as 20-30 cents on the dollar. It is then that the negotiator directly contacts the creditor and offers a better deal of 40-50 cents on the dollar. This is a much better deal for the creditor as it means 100% of ROI for the collection agency. The creditors generally agree to the deal and eliminate at least 50% of the debt that the consumer has. This reduces the debt of the consumer by 50% at least and helps the consumer to easily get out of the debt.

If you have over $10,000 in unsecured debt it may be a wise financial decision to consider a debt settlement. Due to the recession and overwhelming amount of people in debt, creditors are having no choice but to agree to debt settlement deals. To find legitimate debt reduction help in your state and get free debt advice then check out the following link.

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FreeDebtSettlementSolutions is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.

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