Credit Debt Relief Solutions - How To Legally Write Off Half Of Your Credit Card Bills

Feb. 15, 2011 - PRLog -- Credit debt relief solutions are helping the consumers to get rid of their unsecured loans and to regain their lost financial stability. The most widely used method of relief is the method of settlement. Debt settlement helps the consumers to legally write off half of the credit card bills. The process is pretty simple and straight forward. As a consumer, you will need to be in $10k or more of unsecured debts. To facilitate faster and cheaper results, you will have to bundle all the individual loans in one single place. The method of balance transfer is the best that you can use in case of credit card bills. Once the bills are pooled, you are ready for settlement.

For your best interest, you must hire a professional settlement firm. The professional negotiator will create a repayment plan and will send the same to the creditor along with a settlement offer letter. The negotiator will also ask you to stop the payments towards your plastic money bills. This forces the creditor to hire the services of a collection agency for recovering the money from you. The collection agency turns out to be pretty costly and charges 70-80 cents per dollar collected from you.

The negotiator will know what happens and will then offer around fifty percent repayment of the dues on the condition that the remaining half needs to be written off and the debt will be considered as paid in full. To make sure that the lender agrees to this offer, the negotiator will actually threaten the creditor of bankruptcy and will state that the consumer will be pushed to file for bankruptcy if the deal is not accepted. The lenders never want their consumers to file for bankruptcy and hence, they accept the settlement deals. This is what will happen in your case as well! You will then have to repay the remaining money to the creditor in bulk and this is how you can legally write off half of your credit card bills.

With the new FTC laws recently passed, debt settlement is a legitimate alternative to filing bankruptcy. Creditors are ready to negotiate and now you won't have to pay a fee unless your debts actually settle.

Free Debt Advice
(http://www.debtsquashers.com)



Contact us for free debt advice = 8883613619