Your credit card debt isn't the only type of debt that can be settled for a fraction of what you owe.
Settling your credit card debts can provide much-needed relief, but you should watch for these potential pitfalls.
Key takeaways ; If you find yourself in too much debt to keep up with, you might be able to negotiate with your credit card issuer to settle some of your debt. ; Debt settlement works by negotiating with an issuer until they agree to let you pay off part of your debt in exchange for forgiving — or settling — the rest of it. ; The process might include paying a portion of your debt upfront or going on a structured payment plan for a set period of time — and it’s not without consequences. ; Debt settlement isn’t the best option for everyone, so make sure you consider alternatives like using a balance transfer card or creating a debt management plan with a credit counselor before you call your issuer.
Follow this simple 5-step plan to get out of credit card debt and learn tactics to wipe out debt at any income level.
The Fair Debt Collection Practice Act prohibits creditors from threatening jail time when it comes to unpaid credit card debt, however, they can take you to civil court.
Many people have trouble paying their credit card debts — but not everyone realizes that they could be sued for unpaid credit card debt.
You can settle any type of loans — personal, auto, home, education, business or credit card debt. But it is of utmost importance to remain cautious of certain points while taking a decision on sett...
Thinking about signing up for credit card debt forgiveness? Here are a few things you should know first.
Are you looking for a fast way out of credit card debt? Credit card debt forgiveness might help. Here's how.
Personal finance expert Jennifer Streaks joined Jean Chatzky on the HerMoney podcast to share tips on how to reduce your credit card debt.