We can help you settle your credit card debt for less

Many people express surprise that credit card companies will accept settlement of outstanding accounts for less than full value. They wonder why the credit card company would accept less than full value on a debt that was willingly incurred. The reasons are many. Credit card companies are often faced with getting something rather than nothing. They also have factored into their interest rate a default rate – in other words, they have already made their money on you before you default.There are some “secrets” to debt settlement. For one, it is hard to get a good deal if you are current with your debt. From the credit card company’s point of view, why should they accept less than full value if you are still making your payments. Second, you get significantly better deals if you can offer a lump sum payment. Why would the credit card company put you on another installment plan when you have just failed. The story matters. You need to provide a reason why you are offering a lump sum that is set in value. In other words, it cannot be from a non-recurring source. For example, if you say that you have saved the money from your paychecks, the credit card company might tell you to save more. If you say your aunt will loan you a once off amount, that is all they can ultimately ask for.If you can buy a used car, you can settle your debt with Chase bank or other large company. If you need assistance, call the attorneys at the Rosenberg Law Group, PLLC.