Finance, Loan, Debt and Credit.

May 17, 2018

Credit Repair And Credit Card Debt Settlement

The global recession is hitting people all over the world in the place that it hurts the most–their pocketbook.

As it is getting harder and harder to earn more just to stay in place, creditors are becoming increasingly ferocious in their efforts to get you to pay up. These days you’re considered lucky if you have a job. However, those who have jobs are either forced to take a pay cut or they are forced to work less hours. The result of all this financial stress is forcing many people to question how they can get rid of their heavy debt load.

Hector Milla Editor of the “Get Rid Of Credit Card Debt” website — — pointed out;

“…Consumers are considering two strategies. One is credit repair and the other is credit card debt settlement. These two strategies are actually quite different. Credit repair is fixing your bad credit so that you can then apply good credit for your purchases. Credit card debt settlement, on the other hand, is forcing creditors to accept less than the total amount owed and completely settling the bill…”

Let us look at both these strategies for changing your financial situation.

What Is Credit Repair?

A credit repair company works on removing the negative reports on your credit scores. They go through each negative item and challenge it. The negative item can be removed for several reasons: it can be old and invalid, or it can be a disputed issue, or it can be paid off at a discount to “close the book.” Often legal issues are brought up to dispute the validity of a past debt. As a last resort, if things are really hopeless, filing for chapter 7 bankruptcy, wipes the entire slate clean.

What Is Credit Card Debt Settlement?

Credit card debt negotiation is a way to settle a debt, eliminating it altogether.It is a way to end harassing phone calls, stress over money, and the allocation of vital funds to service the debt.

“…Either through letters or by phone, you or a representative from a settlement company, contacts the card company and renegotiates to pay a discounted amount on the debt. This is possible because the card company may believe that if they don’t compromise, they will not get a dime out of you…” H. Milla added.

What Is Your Best Option?

Since these strategies are in fact different, you can either apply both, apply one at a time, or only apply the one that you need right now.

Further information about trusted and reputable companies for credit card debt settlement by visiting;

Hector Milla runs his corporate website at where you can see all his articles and press releases.

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