New Website Developed For People Seeking Credit Card Debt Relief

In response to mounting consumer credit card debt, a new website has been launched to help individuals looking for debt relief options. The new website provides details on various options available to consumers struggling with unsecured debt.

Consumer credit card debt is on the rise and the nation’s unemployment is still higher than it has been in years. This growing trend is putting many citizens further and further into debt. The average person has three credit cards and the average total credit card debt per household is just under twelve thousand dollars.

As people’s income has drastically gone down, their dependence on using credit cards to cover their daily expenses has gone up. This is putting families on a destructive downward spiral. The more people put on their credit cards, the more they are paying on their monthly minimums.

This is essentially putting them on a credit treadmill. People are doing everything they can to keep their head above water. In some cases these individuals simply can’t keep afloat and end up falling behind. Falling behind has caused their average interest rates to skyrocket to as high as twenty nine percent.

As a result, many debt relief companies were started. These companies claimed to offer their customers secrets for getting out of debt that the credit card companies did not want them to know. Often, desperate individuals were being taken advantage of by less than scrupulous companies who were more interested in making a profit, rather than offering their clients the assistance they truly needed.

People were bombarded day and night with marketing and advertising offering debt relief, both in print and on air. Many people became confused and unsure of what they could do to deal with their debt situation. Reports started to appear on internet sites and blogs of people being scammed by these companies and of companies not doing the job that they promised to their clients.

All of this prompted the Federal Trade Commission to set fourth regulations on the debt relief industry to protect consumers and ensure that they would be given the credit card debt help that they needed and deserved. One aspect of this ruling was that a debt relief company could no longer charge any upfront fees in relation to their debt relief programs. This includes bundling the program into a package or taking a monthly fee. The FTC will level the playing field for the consumer looking for debt assistance, and make sure that they are going to get the help they are looking for.

An individual needs to know all of their options when they are seeking assistance. Often, companies will pigeon hole people into only the options that the company offers without truly reviewing the entire situation to determine what option best fits the client, even if the company does not offer that option.

A new website has been developed to help people who are looking for debt relief programs to get the information they need. The website details the options available, and how they affect the consumer. It also offers them the opportunity to speak to a debt analyst who can give them a fee debt evaluation to see what plan would best fit with their unique situation. The site can be found at
http://www.yourcreditcarddebthelp.com

Contact Information

Phillip Congleton

Sr. Debt Analyst

Financial Solutions

Contact via E-mail