What Is Credit Card Debt?
Are you falling delinquent? Have you accumulated credit card debt over time and are unable to pay it each month? Are the credit companies harassing you for payments you are unable to make?
Using credit cards can be alluring, and before you could realize it, you will have used up all the credit allowed. Most people are unable to return the entire amount on time and end up paying high rates of interest on the pending bill. It is a never-ending cycle that never ceases to extract your hard-earned money. In Financial Sector, we are dedicated to providing our expertise to people who are caught in this vicious cycle of credit card debt.
Our Credit Card Debt is all about relieving you from the burden of standing alone against your creditors. We can help you pay back your company without having to declare yourself bankrupt. We have expert negotiators who will speak to your creditors and get the best settlement for you. We follow a simple three-step process to relieve you from credit card debt:
• Give us all the details of your debt – Speak to one of our credit card debt experts and give us all the details of your creditors.
• Have your case reviewed – Our team will check all the details and plan a course of action to help you.
• Settlement – Our negotiators will speak to all your creditors and try and negotiate with them to settle to pay for less (if eligible).
With our skills and assistance, you will be debt-free by having paid less than what you actually owe.
Key Takeaway's
- While useful for making purchases over time, credit card debt does carry some of the industry’s highest interest rates.
- Credit card debt typically accounts for a significant portion of credit utilization on a borrower’s credit profile.
- Paying down substantial portions of outstanding credit card debt is one of the best ways
to rapidly improve your credit score.
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How Credit Card Debt Works?
Your unsecured loans can be settled through negotiation with the banks. For secured loans, you have already provided security with the bank and while you cannot stop repossession of the asset, you can certainly stop the harassment. Here is how it works:
1. Submit Case details
SHARE INFORMATION ABOUT YOUR DEBTS (UNSECURED LIKE CREDIT CARDS, PERSONAL LOANS ETC ,AND SECURED LIKE HOME LOAN & VEHICLE LOAN) AND DETAILS OF HARASSMENT YOU HAVE FACED IF ANY.
2. Get Recommendations
OUR LEGAL EXPERTS WILL REVIEW YOUR CASE AND CALL YOU BACK WITH SOLUTIONS, INCLUDING ELIGIBILITY FOR SETTLEMENT AND HOW TO STOP HARASSING
3. Get Assistance
IN CASE YOU NEED LEGAL ASSISTANCE, ONE OF OUR EMPANELLED LAWYERS WILL PROVIDE THE NECESSARY SERVICES. IF YOU ARE ELIGIBLE FOR SETTLEMENT, OUR TEAM WILL RECOMMEND SOLUTIONS.
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FAQ's
A successful debt settlement directly reduces the amount of money you are required to pay your creditors. You or a debt settlement firm will negotiate with your creditors and attempt to persuade them to reduce what you owe. Creditors have no legal obligation to consider settlements, so there is no guarantee that the settlement firm will be successful.
Bankruptcy can discharge all or most of your debts. The total amount depends on the type of bankruptcy and the types of debt. If you file under Chapter 7, bankruptcy will immediately clear all or most of your debts. It won’t get rid of some student loans, recent debts or any debts incurred because of fraudulent actions. If you file under Chapter 13, you’ll be required to repay a portion of your debts over a period of three to five years. If you successfully complete the payment plan, then the remaining balances are forgiven.