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I'm sure you have heard the commercials lately.
You know the ones touting huge reductions in debt because of Obama's new policies. Well let me just let the air out of these claims. It's all Bologna. There are no such programs to cancel out credit card debt. I'll give you an example. I heard on the way to work this morning a company spouting off about how you have the "right" to settle debt at pennies on the dollar. This has always been your right. It's just not usually possible. The banks and credit card companies will not accept small settlements unless in extreme hardship conditions. The moral of this story; do not pay anyone upfront that promises to cancel a large part of your debt. Well I know what you are saying, is there really any help for people drowning in debt??? Not usually if you are looking for an easy way out. On the bright side though, most credit card companies do have a department that can provide short term relief so you can get back on your feet. You can usually request the hardship department when you get connected with customer service and they can explain all the terms for you. The biggest part of paying off debt is resisting the urge to charge more. I know that sounds simple but it's true. You can find tons of info on this website about paying off or settling debt. Please take some time at your earliest convenience to review all the material relating to debt settlement. I hope you can find some information that will help you. Thank you for taking the time to read this and as always if you need anything, please do not hesitate to email me. Have a great day! |
