Debt Relief Info - In 1 Year You Can Drop Your Credit Card Debt by 60%

May 26, 2010 - PRLog -- It's a baffling fact that the card debts are the most primary reasons for all bankruptcy cases filed in the United States. If you have a huge debt that has been ruining your life, there are certain tactics that you can take help of to eliminate 60% of your debt. Many credit card consumers have no idea of these tactics and they continued to be subjected to the harassment calls from their creditors. Most of the card companies charge an exorbitant rate of interest that makes your debt amount keep growing with time.

A huge credit card bill running into several thousand dollars can take your 15 to 20 year's time to pay it off. The mounting debt due to your non-payment of bills could land you in the Federal Court to file for bankruptcy and finally, it will distort your credit report. Now, there are options available that can help a debtor to reduce 60% of their card debt in a period of one year.

As per an estimate, an average family in America has a debt of around $10,000 and most of these families find solace in the bankruptcy and also have to pay unnecessarily to the lawyers. However, the Obama administration is working to make Americans debt free without filing a bankruptcy.

So how to get your debt free life! There are certain things that will make your way towards your debt free life.

Monthly budget: Always try to spend less than you earn. Make it a habit and set a fixed monthly budget which must be well within your earnings, so that you won't have to use your cards more or often. And at the same time, you save something to pay for your already existing card bills.

Bad Debt and Worst Debt: Debts are always bad; however, some debts due to their exorbitant rate of interest are the worst ones. At first, you need to pay all your attention on the debts which include high interest rates. You need to pay them off first so that monthly debt burden is reduced to a great extent.

Consolidation of Debt: When you manage to detect your credit card which carries the lowest interest rate, you can shift all other card debts on to this card only. This way, you manage to reduce your monthly payable bill.

Using these tactics, you can definitely reduce your card debt to a manageable proportion so that you can pay it off within one year.

If you are one of the millions of Americans who has over $10,000 in unsecured debt, it is time you found out about the debt settlement options available to you. Due to the current economy an overwhelming amount of people are in debt, creditors are having no choice but to agree to debt settlement deals.

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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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