Deliver Your News to the World

Why Many Debt Ridden Consumers Are Turning To Debt Settlement Programs


Many consumers that are experiencing a financial hardship and have at least $10k in unsecured credit card debt are opting for debt settlement. Debt settlement is where consumers are able to pay back a percentage of their credit card debt and the creditor agrees to forgive the rest. This is typically the last option before filing bankruptcy. Creditors will agree to take partial payment if they believe the consumer is a legitimate candidate for bankruptcy because if the consumer were to declare bankruptcy they would likely receive nothing.

The best way to convince a creditor to agree to a debt settlement deal is to convince them you are a legitimate candidate for bankruptcy. Since creditors are likely to receive nothing if the consumer were to declare bankruptcy, most are more than willing to take 50% rather than nothing. When consumers enter a debt settlement program they will not be paying their creditors and therefore most creditors will consider the candidate a legitimate candidate for bankruptcy.

Debt settlement is an aggressive debt relief option and should only be considered by consumers that are experiencing a legitimate financial hardship and have at least $10k in unsecured debt. It is not intended for individuals simply looking to get bailed out of their unsecured debts. Websites like will provide consumers free consultations to determine which debt relief option is best and also provide a list of legitimate debt settlement companies that are experienced and proven in the debt negotiation business.

Opponents to debt settlement, including some members of congress, argue that most debt settlement companies charge excessive rates and large upfront fees for their services. While itís true that there are predatory debt settlement companies out there that take advantage of desperate consumers it also true that there are legitimate debt settlement companies that do not charge upfront fees and will be able to live up to their promises. Consumers need to know how to identify a legitimate debt settlement company and stay away from those predatory services. Websites like will be able to supply legitimate debt settlement companies for consumers.

It is very critical for consumers to know how to locate legitimate debt settlement companies that have a proven track record in settling consumer debts. The easiest way to find legitimate companies is to visit a free debt relief network like There, consumers will be able to locate the best debt settlement companies in the country and also receive a free debt consultation to determine what the best debt relief option is. These networks are free to use and have helped thousands of consumers avoid being ripped off.

To locate the top performing debt settlement companies in your area for free debt relief advice check out the following link:



This news content may be integrated into any legitimate news gathering and publishing effort. Linking is permitted.

News Release Distribution and Press Release Distribution Services Provided by WebWire.