Columbus, OH; July 27, 2013: The post “Credit Card Debt Settlement, an option to slash multiple credit card debts”, starts by describing the worries that many credit card holders have about their increased debt. The increased debt can be caused by many variables in consumer’s lives including job loss, the rise of consumer goods and irresponsible spending according to the article.
Contained in the post is a list of items that consumers may use as a guide to when they should consider the settlement of credit card debt.
The following list is a guideline of when a consumer might consider contacting a debt settlement company to start working on resolving their credit card debt.
- When the total amount the consumer owes is more than $10,000
- When the debtor can’t bear the interest rates and the monthly payments towards their debts
- When the consumer is tired of splitting their payments among multiple creditors and wish to combine their payments into a single loan
- When the consumer needs to reduce the total outstanding amount and repay an amount that is much less than what they actually owe
- When the overwhelmed credit card holder wants to start fresh but want an alternative to bankruptcy
- When the consumer wants to pay off their debts in order to stay out of the debt for good
- When the delinquent card holder wants to get rid of all debt collection calls
According to the article, there are three things each consumer must find out before choosing a debt settlement company.
- Is the debt settlement company is registered with the Better Business Bureau?
- Does the company charge upfront fees from the consumer before reviewing the consumer’s finances?
- Does the company tell each consumer that their credit score will be hurt when they attempt to settle the client’s credit card debt?
The entire article can be viewed at Cloud Technology Systems, Inc. official blog where consumers are encouraged to educate themselves before contacting a debt settlement company to settle their credit cards for bad credit.
JC McClain has authored two books on credit cards available at the Amazon Kindle library, Credit Cards for Bad Credit 2013 and Best Credit Card Rewards 2013 McClain has also appeared on the nationally syndicated radio financial fitness show sharing his expertise in credit repair. He is also the credit expert for Cloud Technology Systems, Inc.
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Cloud Technology Systems, Inc.