Debt Settlement also known as Debt Relief or Debt Reduction Catches Fire in U.S. as Credit Card Debt Reaches All Time High
More and more savvy consumers are using debt settlement to eliminate their out of control credit card bills and other unsecured debt, often settling their debt for 40-60% or less of outstanding balances, cutting their monthly payments in half, immediately halting interest charges, and getting debt free in 12-36 months.
Tustin, CA (PRWEB) September 15, 2009 -- As more and more debt strapped consumers are asking "How can I get control of, reduce and pay off my credit card debt and other unsecured debt in the fastest most cost effective manner," PaymentReduction.com announces a settlement rate of 40 cents on the dollar for average unsecured debt and credit card bills.
What many struggling consumers don't know is: "There is help out there. There are many consumer relief programs that can drastically cut debt and monthly payments for struggling consumers that many consumers don't even know about," says President and CEO of PaymentReduction.com, Amit Oberoi.
"Debt settlement, also know as Debt Relief or Debt Reduction, is a fast and effective method for any consumer who has found themselves under a mound of high interest compounding credit card debt and other unsecured debt, with no way out. Stuck paying minimum payments with the balances going up or staying the same. Debt that just continues to grow with no way out," says Paymentreduction.com Debt Settlement Expert Colleen C.
Instead of filing bankruptcy which can stay on the record for 10yrs and give a hard working consumer a negative stigma, more and more hard working, honest, consumers are getting savvy and are turning to Debt Settlement to eliminate their unsecured debt for a fraction of its current balance while cutting the payments in half, freeing up much needed monthly cash in this tough economy, often paying off all the debt in as little as 12-36 months while avoiding bankruptcy.
Although some credit card companies claim low interest start rates or special low rates, these rates are teaser and short term and when they change they change drastically and when a credit card company says they have a single digit rate, that rate is compound daily, making the actual effective rate extremely high. Although they may claim a low rate the actual rate almost always ends up in the 18-28% range, says Debt Settlement expert and COO of Paymentreduction.com H. Eugene Fouchia.
Debt Settlement, also known as Debt relief, Debt reduction, or credit card reduction is fast becoming the alternative for hardworking honest consumers inadvertently overcome with credit card debt and other unsecured debt... to avoid bankruptcy, credit counseling, or letting go of hard earned cash to pay off debt at full value.
Common unsecured debt effectively settled are: credit cards, store cards, cell phone bills, gas cards, unsecured credit union cards, unsecured jewelry, furniture, computer store bills, repo'd car loans, utility bills (outside collection), business loans.
For more information on the latest debt settlement and debt reduction programs available go to paymentreduction.com they can tell you exactly what you qualify for right over the phone or internet.
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