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Credit Card Debt Settlement – Do It Yourself!
You can negotiate with your charge account credit company to reduce their bill. You can ask them for a debt settlement. If you go about this the right way, then you can even get as much as 60 percent of it slashed.
While this may seem miraculous from your point of view, it is actually being done every day by many people who have lost their jobs or had their salary reduced during this recession. Can You Do It Yourself? Yes, you can! How?
Hector Milla Editor of the “Credit Card Debt Free” website — http://www.CreditCardDebtFree.org — pointed out;
“…Begin by finding the main number of your credit card company. Call their customer service department. Ask them to direct you to their settlement department. You will be sent to another representative who can make a decision about whether or not to reduce your interest rates, put your interest rates on hold for a specified period of time and even give you a big discount on your total amount…â€
Explain to this person that you are not earning as much as you used to in the past when you accepted the credit card and began to use it. Tell them that you want to settle the debt with the amount of money that you can afford. If you are given a verbal agreement that this is possible, make sure that you get this in writing before you send off a lump sum to close your account, settling it at an amount that you can afford.
If the creditor is not willing at all to work with you, you have not lost. Now just refuse to pay the bill every month the way you have been doing. Instead put the money you would have paid into a savings account. The creditor will assign a collection agency to harass you. Answer the phone when they call and keep repeating, like a broken account, that you are willing to settle the amount but can’t afford to pay what is now on your bill.
“…It may take from three to six months before they understand that you will not be intimidated. Eventually, fearing that you will not pay anything at all, they will be willing to work with you. By this time, you will also have the money you have been saving up to send to them to seal the deal. You don’t have to live under the weight of credit card debt haunting you. You can resolve it by applying the strategy of debt settlement…†H. Milla added.
Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.CreditCardDebtFree.org