Americans are suffering a tough economic crisis.
People have lost their jobs and their livelihood and have been forced to use credit cards to pay for daily expenses like bread and milk.
No wonder the average credit card debt is $8000.
That is why credit card debt payoff is in the mind of a lot of people.
Hard working, decent people that have lost their income and that have fallen behind on payments are now also suffering the dozen or so phone calls a day from creditors and banks threatening to take your possessions or home away.
Americans are suffering a great deal of stress over their finances and they are desperate to find out their choices to get out of debt fast.
There are several options for people that are not able to make their payments or that are struggling mightily to make at least the minimum payment every month.
Bankruptcy.
Chapter 7 bankruptcy should be your last resort.
Common myths about this is that you will be ruined for ever and that creditors will take your home and garnish your wages.
That is not the truth.
The truth is that once your debt is discharged, it will stay on your records between 7-10 years, but you will be able to get credit soon after.
Credit consolidation.
A third party will negotiate on your behalf, usually with a collection agency, to settle your debt on pennies on the dollar.
This will also stay in your credit history 7-10 years.
Government grants and other alternatives.
Tray to make your credit card debt payoff without resorting to drastic measures.
But stop losing your sleep and sanity over a huge debt.
Analyze your options and make a decision.