You are down in debt and are looking for debt relief. You have also seen and heard that a large number of people have accumulated debts worth thousands of dollars. There are reports of politicians and even presidential candidates being deep in debt. You have company out there. In this entire situation only your creditors seem to be winners.
However the fact is quite contrary. Your Creditors are in bigger trouble than you. They have crossed the threshold of debt long back. They just can not afford to have more than 10 to 15 percent of their users filing for bankruptcy. If that happens the Credit card companies will be bankrupt. This situation will see not only the collapse of the Credit card companies but the entire financial system in the US. The government has therefore infused large amount of money in the system called stimulus money to bail out the investors.
The Credit card companies thus do not want you to know about their weakness. They have tried to keep this a closely guarded secret. Yet it is well known that there is some trouble brewing on the front of Credit card companies to investors in general. It is precisely this weakness of the Credit card companies that you need to exploit. Strike at the place where it hurts them the most. Ask them to negotiate your debt.
Go in for a debt settlement. This is an out of court negotiation with your creditors. They walk up half the road and you come forward the other half. This is exactly how the system works. On your part you need to be prepared to pay up to 50 percent of the debt in one go. The creditors will willingly forgo balance of the amount as it is quite beneficial for them to recover some money from you rather than nothing at all.
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