whats the name to a reliable credit card debt settlement company?

Robert,

There are only a handful of legitimate debt settlement companies out there.

That having been said, DEBT SETTLEMENT IS NEVER YOUR BEST OPTION for eliminating credit card or other unsecured debt. Even if you happen to find a legitimate debt settlement company, there are some serious consequences and drawbacks, including…

- Short and long term damage to your credit
- NO GUARANTEE of results
- Very high and confusing fees
- Front-loaded fee schedules that delay progress in settling your debts, and
- Tax Implications (you will most likely receive a 1099 from your creditors for the amount of the balance reduction, which means you’ll have additional income taxes due)

If you need assistance getting out of debt, a superior alternative to traditional debt settlement is Debt Resolution. Debt Resolution offers all of the benefits of debt settlement, but also either eliminates or significantly reduces the negative aspects mentioned above. Unlike debt settlement (which relies solely on the level of your delinquency to negotiate settlements), Debt Resolution leverages good faith debt laws to both challenge the amount of the debt owed, and provide legal protections for the borrower. Features include:

- Eliminate 55% of your unsecured debt (guaranteed in writing). Try asking a debt settlement company for a guarantee.
- Cut your monthly payments in half (or less)
- No interest charges
- No negative tax consequences (you won’t get a 1099 from the creditor)
- Flexible Payment Terms (take up to 45 months – on a payment schedule you choose)

As an example, let’s say you owe $20,000 in credit card debt. 45% of that is $8,000. If you can afford $800 per month, you can be out of debt in just 10 months ($8,000 / $800 per month). If you can only afford $400 per month, you can be out of debt in 20 months ($8,000 / $400 per month), and so on… The only other cost associated with the program is a one-time enrollment fee of $500 to administer the paperwork, get set up in the system, and establish the trust account from which the creditors will be paid.

That’s it. There are no other costs or fees. Just a one-time $500 enrollment fee and 45% of the current balance, which can be spread over as many as 45 months, depending on what you can afford.

Some well-intentioned contributors on the forum will suggest that you can do a debt settlement yourself… Well, they’re right, you can do a debt settlement yourself. But guess what? You’re most likely not going to settle your debt for less than 45% of the balance, which is the contractually guaranteed amount if you enroll in Debt Resolution. And guess what else? Unless you are familiar with the good faith debt laws and the laws of your state that govern credit card agreements – and you know how to leverage those laws to have the principal reduction considered a correction of the amount owed rather than a forgiveness of debt, you’re going to receive a 1099 for the amount forgiven, and you’ll have to pay taxes on it.

And what about suggestions of help through an NFCC credit counseling service? Well, you can go that way if you want to pay 3 times as much and have the process take 2-3 times longer. You see, those companies are closely aligned with the credit card companies, and their goal is to get you to pay back as much as possible. Let’s use the example above where you owe $20,000, and can afford $400 per month. With Debt Resolution, you’ll be debt-free in 20 months. With consumer credit counseling ??? Let’s say they reduce your interest rates to just 9.9%. If you were able to pay the $400 per month, it would take you 65 months to complete the program, and you would have paid $25,894 (instead of $8,000 !!!).

Quick question: Which sounds better to you… $8,000 and be out of debt in 20 months OR $25,894 and be out of debt in 64 months (that’s almost 3 years longer of paying $400 per month).

But remember… DEBT RESOLUTION IS NOT THE SAME AS DEBT SETTLEMENT, and you CANNOT get these benefits from a debt settlement company.. Debt Resolution is a unique, proprietary process developed and perfected over many years by a former Deputy Attorney General of California with over 40 years of legal experience, including more than 15 years specializing in resolving debt.

For more information on Debt Resolution, you can visit:

http://www.BetterThanDebtSettlement.com

Visit the site and receive a Free Special Report titled "Why Debt Settlement Is NEVER Your Best Option For Eliminating Credit Card & Other Unsecured Debt." This report sheds a bright light on the problems with debt settlement, and explains how the Debt Resolution process eliminates or significantly reduces the drawbacks associated with debt settlement.

N O N E

You don’t need a 3rd party who promises you the moon to work with your creditors. All they will do is take your money, screw your credit up worse and then leaving you hanging out to dry when you are getting sued. If you read the small print of whatever contract or ad they have, it will definately say that they cannot promise anything and that your results may vary.. LOL

If you want to pay off your debt, you would do better working with a non profit credit counseling service: http://www.nfcc.org

You should run as fast as you can from any debt settlement or debt consolidation program. They are very costly, extremely ineffective and can leave you exposed to lawsuits.

First of all traditional debt settlement has well over a 70% failure rate, mainly because they provide you no protection from the creditors. They offer to settle your debts for average of 50%, they charge you 15% of your debt as a fee, then you pay income tax on the cancelled debt. When all is said and done you are back to at least 85% of what you started with in costs out of pocket. What did that accomplish for you? All during that agonizing 4 or more year process your credit is in the tank, precluding you from moving on with any of your financial goals. That’s a long time to be exposed to lawsuits.

In debt consolidation you are trading an unsecured credit card debt for a secured debt backed by an asset such as your home. That is the worst possible financial blunder ever offered in the credit industry. Could cost you your home.

Why not empower yourself with a unique program that enables you to pay off those accounts for 10 cents to 20 cents on the dollar? That’s right 80% to 90% off on the balances your creditors say that you owe. You can be debt free in about 18 months, be protected from creditor liability lawsuits, saving you many thousands $$$ in out of pocket costs, no tax consequences and your credit will be restored at the end of the process. Do your research. Just Google "credit card debt resolution" or "zero credit card debt" and you will find the ultimate solution.