It seems very easy to get a debt settlement.
But in actuality, it is not so easy and quick.
In the first go, there are very rare chances that a company will make a settlement deal with you.
Credit card companies strive hard to get their money back.
They will keep you calling day after day.
You may hide yourself in your house to avoid any negotiation with your creditor.
Mostly people who had not gone through these activities get afraid.
That is why we recommend you to consult a legal attorney or a settlement company.
In stress, you will not be able to negotiate with your creditor in an effective manner and you will lose a golden opportunity.
Debt settlement is totally a legal process.
You should know your rights.
Laws are made to safeguard your rights.
Fighting with your creditor may involve no response to their phones calls and warning letters.
These companies pay heavy taxes and cannot hold your hand for too long.
So, they send or sell your debt to the collection companies.
These collectors know all the policies of the credit card companies regarding the settlement deals.
They get certain commission on the debt recovery.
These companies have to deals with countless debtors in a month.
So, they don't have enough time to deal with a single consumer.
You can directly negotiate with the collectors.
If you tell them real facts about your financial state and show them your willingness to completely cooperate with them and pay the debt then they can think over other solutions instead of threatening you.
Bankruptcy gives them nothing back.
So, a credit card company's first priority is making a deal before a debtor goes for filing bankruptcy.
Don't haste to sign a deal.
If you think that you can make more room for yourself then you should try.
After you get a deal signed, request collectors to remove any bad remarks from your credit report and mark it full paid instead of payment through settlement.
Check your debt amount left after each payment regularly.