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January 03, 2007
Credit Card Debt
Because of all the “easy credit card� offers university students get while in school, they often find themselves with a ton of credit card debt after graduating. I thought I’d pass along a link to a great website I found that helped me get things in order before they got out of control.
Credit card debt has no easy solution. After listening through numerous debt podcasts, reading many debt settlement press articles, and getting debt settlement & debt consolidation advice from my friends and family, I felt that I needed a complete solution to my financial obligations. Debt consolidation or credit counseling is a viable alternative for debt relief when the credit card companies agree to the terms of the debt management plan. However, with the new bankruptcy laws and stringent creditor policies, card companies have lowered their initial commitment to debt consolidation agencies. Furthermore, the fact that creditors like Citibank, Bank of America, et al. have stiffened their policies, the net benefit of a debt management plan has been sourly effected. This leaves individuals in the uncomfortable position between avoiding bankruptcy and failing to meet minimum payments. Debt settlement may then be the only effective debt relief alternative.
I stumbled upon a help forum on debt settlement that talked about good and bad debt settlement companies and gave credit to some debt settlement and debt consolidation companies more than others. That's when I found out about Xcelerated Debt Relief and their debt forecasting program. Instead of negotiating with creditors, they were going to structure their program around my abilities and work with the creditors. I was also impressed by the fact that they qualified me for credit counseling and only proceeded with commencing a debt settlement resolution plan after we discovered that the payment plan for credit counseling was 20% higher than what I could feasible afford. With a plan in hand, I proceeded with repaying my creditors according to the schedule Xcelerated Debt Relief had forwarded to my creditors. None of us intended into unmanageable debt in the first place, but I'm glad I found a respectable alternative to filing for bankruptcy.
Posted by Idea Man at January 3, 2007 04:47 PM
Comments
Welcome to our debt relief company. We will help you decide if filing a bankruptcy, doing a debt workout, doing nothing or paying your debt in full is the right way to deal with the money you owes your creditors. Debt and bankruptcy are serious issues.
Posted by: armadalabs@gmail.com at March 26, 2007 07:25 AM
Debt consolidation loans are certainly one way of controlling debt. However, it may not necessarily be the best way to clear your debts forever. Like any form of debt management it takes a lot of financial control. An IVA (Individual Voluntary Arrangement) is another way to reduce debt. By up to 75% to be exact. You should try an IVA Debt Help service as part of your debt management plans.
Posted by: paul.haughney@gmail.com at November 5, 2007 03:49 PM
You are right that debt settlement is right in some instances and I think Xcelerated offers a unique program. It is sometimes hard to choose the best plan, but I think this program outclasses the traditional debt settlement or debt consolidation approaches.
Posted by: frederick.cunningham@gmail.com at November 29, 2007 03:46 AM
this is for those who are victims of credit card debt.
Don't be a victim. Stop credit card debt now. We can help.
http://widecircles.com
Posted by: shreeya1986@gmail.com at June 2, 2008 03:58 AM
I agree with the comments. Debt Consolidation is not always the best way to handle your debts. Debt Consolidation means taking out another loan and extending the period of time you have pay back your debt which ultimately means paying out more in the long run.
Other options include Credit Counseling, Debt Relief and Bankruptcy (stay away from this if you can). It is important to evaluate each option and get the facts so that you can choose which one is best for your situation.
Posted by: chambers.clark@yahoo.com at October 2, 2008 11:40 AM
Knowing how to stay out of credit card debt is important because credit card debt is a debt that acts more like quick sand then any other debt that you will ever owe. Christian credit card debt solution options then you have already taken the first step towards consolidating your debt. The moral aspects of religion make the issues for Christian debt relief extremely complex and sensitive. By doing this, you are basically throwing your cash away because your payments will mostly go to interest rates and fees. Once you are at the point of being stretched to the limit, you are stuck there and if you ever miss a payment you are then going to be hit with an incredible amount of fees that will make it even harder to catch up.
Posted by: flirtwithfire@gmail.com at December 22, 2008 01:54 AM
I agree with the previous comments. Debt consolidation should be used wisely. It is not always the best idea.
Posted by: ale_big@hotmail.com at January 27, 2009 10:51 PM
@Alex.
Yup.
Use all credit counseling, debt consolidation and debt relief options wisely.
Ask lots of questions and go with what works best for you.
Posted by: chambers.clark@yahoo.com at March 4, 2009 07:48 PM
Can you be sued for credit card debts? You bet you can be sued for unpaid credit card debt. It really depends on how much you owe them. The amount you owe would have to be enough to cover the cost of the charge cards lawyer, which in most cases is just fees for a Paralegal or Legal Assistant. Start planning on getting yourself some credit card debt relief before it gets out of hand.
Posted by: treasurechestofinfo@gmail.com at June 23, 2009 10:35 PM
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