How To Negotiate Credit Card Settlement

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Debt Negotiation Guide:

Stage One
Contact Creditors

Stage Two
Prioritise Creditors

Stage Three
Financial Statement

Stage Four
Make Offers




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How To Get Rid of Credit Card Debt
Negotiating Debt Settlements

Credit Card Debt Settlement - What Are Your Options?

Credit card debt is one of the most common sources of serious debt problems - so easy to accumulate and so difficult to get rid of once it mounts up. Faced with credit card debt, many people panic and make bad decisions, often making their situation worse. The only real long term solution to getting rid of credit card debt is to somehow come to an agreement to settle the debts with each card company or collection agency.

One thing is for sure, it will not go away if you ignore it. Ignoring debt can only lead to more serious consequences, such as being sued and having court judgements made against you. For serious amounts of credit card debt, alternatives like debt consolidation loans are unlikely to be the answer, and could end up costing you more in interest, as you are only transferring the problem elsewhere. Many people with large credit card debts look to bankruptcy as a way out, but this is a drastic step which has lasting consequences, and is almost certainly unnecessary.

You have a basic choice to make when it comes to dealing with your credit card debts - you can either use a specialist company to help you through a Debt Management Plan or Debt Settlement Program, or you can try to do the settlement negotiation yourself. Most people use one of these specialist debt advisors, who will deal with creditors on their behalf. The advantage of this is that they are very experienced, and should therefore be able to negotiate substantial reductions on your debt for you. However, I also want to let you know how you can do this for yourself if you prefer.

Choose The Solution That Is Best For You

Option One: Debt Management (UK and US)

May be right for you if you have quite a large amount of credit card debt, but still enough income left after paying your basic living costs to make a regularly monthly payment.

To find out more, visit the Debt Management Page.

Option Two: Debt Settlement

If you have a serious amount of credit card debt and would struggle to make the payments required for a debt management plan, debt settlement could be the answer. This involves writing off a large proportion of your debts, making it more possible to pay off the balance.

There are two choices available here, depending where you live. For US citizens, visit the Debt Settlement page, and for UK citizens, visit the IVA page. IVAs (Individual Voluntary Arrangements) are the UK equivalent of debt settlement, and also involve writing off up to 75% of your debt.

Option Three: Negotiating Credit Card Settlements Yourself

Credit card companies and collection agencies ideally want back everything you owe, but they will settle for a much smaller amount if they think that is the most they can get. By knowing what to say to these people and most importantly, when to say it, you can drastically increase your chances of getting a great settlement deal and wiping off a large chunk of your debt. It can be discouraging if you have tried talking to the card companies about reaching a settlement and they are not interested, but that is always likely to happen if you do not know how and when to approach them.

I have already mentioned that debt management and settlement companies do this kind of negotiation every day and will be happy to do it for you, but there are fees involved in their services. With the right advice and guidance there is absolutely no reason why you cannot negotiate settlements yourself.

Because debt negotiation is not something it is easy to do well without an understanding of what is involved and how organisations like credit card companies operate, I am recommending some excellent guides to help you. These all offer detailed advice and guidance and take you through each stage of the process.

Recommended Guides On How To Negotiate Credit Card Settlements

How To Settle Debt - Zip Debt

One of the most detailed guides on negotiating your way out of debt. It is by Charles Phelan, who was a key figure in the early days of debt settlement in the US, and knows more about how the business works than pretty much anyone else.

This guide is actually a detailed training course on the debt negotiation process. It includes eight hours of training CDs, one to one telephone consultation with the man himself, and unlimited email advice from Charles. In addition to this there is a document review facility, where you can get Charles to look at any letters or documents you receive to get his advice.

One of the most amazing aspects of this guide is the 365 day money back guarantee, which says a lot about how confident Charles is that his techniques will work for you. Find out more on his website.

How To Settle Debt - Secrets 2 Debt Settlement

This guide is by Maria Martin, and provides valuable inside information based on her own experience of having serious debt problems and managing to work out how to negotiate amazing settlements with the card companies. Maria worked out how to settle over $75,000 on her own, and she shares all the things she learned along the way in this e-book.

The detailed guide includes scripts for telephone calls, template letters and a lot of vital information about how card companies process bad debts. As well as being a very low cost guide, the offer includes a full money back guarantee for sixty days if for any reason you are not satisfied. Find out more about what the guide covers on Maria's website.

How To Settle Debt - The Ultimate Debt Guide

This is an e-book by Scott Stephen, who knows pretty much all there is to know about debt, based on his experience of having been in and out of serious debt more times than most of us. he has been made bankrupt three times, so he understands exactly what you are going through. His experiences have given him an incredible insight into the workings of the whole debt industry.

He spent eight years researching this book, and has a unique knowledge of bankruptcy and debt law. His simple goal is to turn you into a debt expert and get you out of debt as FAST as possible. His focus is on several special techniques which he says are not widely known about, but which are extremely effective.

The book is very comptetitively priced and comes with a 60 day money back guarantee. Find out more by visiting his website.

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