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Follow on Google News | Credit Card Bankruptcy - How To Avoid Bankruptcy And Reduce Credit Card DebtCredit card bankruptcy is one of the traditionally used methods of eliminating unsecured debts completely. However, due to recession, the number of bankruptcy filing cases increased significantly and this caused more troubles for the economy.
By: FreeDebtReductionHelp.com However the question is, "How to avoid bankruptcy and reduce credit card debt?" The problem with plastic money debt is that it keeps increasing at a compound rate because of high monthly interest charges. The problem of this plastic money debt can be well handled by the option of debt settlement. Using this method will not only help the consumers to avoid bankruptcy but also to reduce the overall outstanding. The method relies on the threat of bankruptcy to force the creditor to opt for elimination of at least 50% of the dues that the consumer has. The negotiator offers 30-50% bulk repayment of the dues but on the condition that the remaining amount needs to eliminated completely and that once the consumer pays the agreed upon sum of money to the creditor, the consumer becomes free of all the liabilities and the credit bureaus get informed that all the dues are cleared. Because the threat of bankruptcy remains attached to the offer, the creditor is left with no other option but to accept the same. When the creditor accepts, a new agreement is signed and the consumer gets out of the unsecured debts by paying the amount which is not waived by the creditor. This is how one can avoid bankruptcy and reduce credit card debt. Debt settlement is a viable option to filing bankruptcy and is becoming increasingly popular amongst Americans with over $10k in unsecured debt. Creditors are ready to negotiate. You can literally eliminate 50% of your unsecured debt with a settlement. Check out the following link to locate legitimate debt help in your state. Free Debt Advice (http://www.FreeDebtReductionHelp.com) Contact us for free debt advice =800-963-3734 End
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