Credit Card Debt Forgiveness - Is it Possible?
Credit card debt forgiveness? In these financially troubled times, many people are so overwhelmed by credit card debt that they have this wishful thinking about their creditors forgiving their debts, but is this possible? No and yes.
No, your total unsecured debt cannot be forgiven, but there is a possibility that it can be partially forgiven.
Read on for details.
It is called debt settlement, also known as debt negotiation and you can settle for 50% to 60% of your total debt if you are willing to follow instructions.
And no, you do not have to pay ridiculous high fees to a debt settlement company, you can opt for a do it yourself training and coaching program.
The main requirement you must meet to qualify for partial credit card debt forgiveness is that you must be experiencing a hardship, such as a long illness or medical emergency, job loss or divorce.
This is because you have to give a good reason to your creditors as to why you need to settle your debts.
You also have to understand that this is an alternative to filing for bankruptcy and although your credit score will temporarily suffer, you can start improving your credit soon after you settle.
If you file bankruptcy, it will take a lot longer to rebuild your credit.
To find a good do it yourself debt settlement program, you must be certain that the author of the program is a top expert in the debt negotiation industry and that he/she has the experience of having worked in that field.
The best do it yourself debt negotiation program should offer coaching and support, so do not be fooled by imitators; anyone can just copy a legitimate program and sell it as his own, but does he offer support? Most likely not, since he would not know what to do if you had an urgent question.
If you are serious about getting out of debt, it will be worth your time to find out about partial credit card debt forgiveness or debt settlement as it is usually called.
With the proper coaching and training you can do it yourself for a small fraction of what you would pay a debt settlement company.
No, your total unsecured debt cannot be forgiven, but there is a possibility that it can be partially forgiven.
Read on for details.
It is called debt settlement, also known as debt negotiation and you can settle for 50% to 60% of your total debt if you are willing to follow instructions.
And no, you do not have to pay ridiculous high fees to a debt settlement company, you can opt for a do it yourself training and coaching program.
The main requirement you must meet to qualify for partial credit card debt forgiveness is that you must be experiencing a hardship, such as a long illness or medical emergency, job loss or divorce.
This is because you have to give a good reason to your creditors as to why you need to settle your debts.
You also have to understand that this is an alternative to filing for bankruptcy and although your credit score will temporarily suffer, you can start improving your credit soon after you settle.
If you file bankruptcy, it will take a lot longer to rebuild your credit.
To find a good do it yourself debt settlement program, you must be certain that the author of the program is a top expert in the debt negotiation industry and that he/she has the experience of having worked in that field.
The best do it yourself debt negotiation program should offer coaching and support, so do not be fooled by imitators; anyone can just copy a legitimate program and sell it as his own, but does he offer support? Most likely not, since he would not know what to do if you had an urgent question.
If you are serious about getting out of debt, it will be worth your time to find out about partial credit card debt forgiveness or debt settlement as it is usually called.
With the proper coaching and training you can do it yourself for a small fraction of what you would pay a debt settlement company.
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