West Palm Beach, FL (PRWEB) June 04, 2012
Golden Financial Services, located at http://www.goldenfs.org launched a free credit card debt relief information site. The name of the site is "No More Credit Cards" where the focus is on credit card relief programs. http://www.NoMoreCreditCards.com
The site is designed to keep consumers away from credit card debt relief scams, while at the same time helping consumers to obtain legal credit card debt relief. Consumers can be matched with reputable non profit debt consolidation companies or the best debt settlement companies in America. The site also teaches consumers how to raise their credit score and how to pay off credit card debt by staying current and saving money in interest.
There are also debt relief scams, deceptive advertising and fraudulent programs advertising credit card debt relief through government help, which consumers should stay away from.
When consumer’s come across ads online that say “government credit card debt relief” or “Obama credit card debt relief program”, an immediate RED FLAG should go up. These ads are deceptive and could be scams. There are laws that regulate credit card debt relief companies, but government credit card debt relief programs, do not exist.
When contacting credit card debt relief companies it is important for consumers to only deal with companies that have been in business for 5 or more years, have 0 unresolved complaints and a good rating with the BBB. http://nomorecreditcards.com/about-us/debt-settlement-bbb/
In the US there are credit card debt relief programs that will lower your interest rate on your credit cards. These programs are known as consumer credit counseling or debt consolidation.
There are also legal credit card debt relief programs available that can lower your overall balances significantly. Example: According to the CNN Money Credit Card Debt Relief Calculator it says for a consumer that has 3 credit cards adding up to $35,000.00, with an average interest rate of 12%, paying a total of $875 per month to stay current on these 3 credit cards, would be paying on these cards for 24 years and 9 months. After 24 years and 9 months, this person would end up paying $35,000.00 to pay off the balances on these 3 credit cards, + $22,079.11 in interest, adding up to a total of $57,079.11 to pay off $35,000.00 of credit card debt.
It may not be financially possible for a consumer that has a hardship situation to be able to pay this much money for possibly the rest of their life. Debt settlement would most likely be a viable credit card debt relief option at this point for the consumer that has $35,000.00 in credit card debt and a hardship or a reduced income.
On a debt settlement program for a consumer that has 3 credit cards adding up to $35,000.00, a payment of approximately $525 per month could have them debt free in 3 years. There have been many cases where consumers with $35,000.00 in credit card debt ended up paying back only $15,000.00 total to become debt free through credit card debt relief with debt settlement.
These results cannot be guaranteed and will vary.
Debt settlement with the best debt settlement companies can be the preferred credit card debt relief option. It’s the fastest way to pay off your debt and save the most money. When obtaining credit card debt relief through debt settlement it is imperative that the company helping you provides you with a state and federal attorney, lawsuit defense in case any of your creditors decide to sue, creditor harassment protection and lots of education in the 1st 30 days. http://nomorecreditcards.com/debt-settlement/
If you have a good income, but are just sick of paying so much interest, learn how to pay less interest and get out of debt faster. Credit card debt relief programs are not for everyone and why take a hit on your credit, if you don’t need to. http://nomorecreditcards.com/minimum-payments/
Any credit card debt relief program could lower your credit score. That is why it is so important to obtain credit card debt relief from a reputable company that will disclose the good and the negative, fully informing consumers. Learn more about safe credit card relief programs http://nomorecreditcards.com/credit-card-relief-programs/