As you know credit cards can be a lifesaver. As an example your car randomly breaks and you need a new part to fix it and don’t have the cash. With credit you can afford to get your car up and running again and avoid the inconvenience that comes without having it. However, there is another side to this credit card debt that can be a weight on your shoulders. Often due to chance or misfortune it is very easy to end up in too much credit card debt. It is not a matter of wanting to pay, it’s a matter of being able to. When you find yourself in this spot, debt relief is a serious option. There is no shame in debt relief and if you need it, seek it out. The following tips will help you understand this process better and how to get it.
Debt Relief Considers Hardships
Hardships are one of the easier ways of acquiring debt relief. When you think of hardships, they usually consist of things such as losing your job, getting divorced from your spouse, or medical issues that severely impact your life. This is because debt relief is mainly for situations where you cannot feasibly pay off your debt in cash. Hardships often have a huge negative effect on income. So if your inability to pay is related to life altering events you can probably qualify for some form of relief.
Don’t be Afraid of Companies
A lot of third party companies offer debt consolidation services at a low cost to you. This isn’t needed it is entirely possible for you to negotiate your debt with your creditors on your own. Don’t be afraid to face your credit card company. If you need credit card debt relief call them and talk about it. You may be surprised by the results.
Make an Offer
It may sound a bit unusual but you can make an offer to pay off an account for a lesser amount. Debt relief doesn’t mean the entire debt has to be forgiven. If you find yourself in a case where you owe more then you could ever realistically pay but still have enough to cover a sizable amount of the balance due make an offer. For example if you owe 9,000 dollars and can afford to pay 6,000 your company may take the deal, forgive the rest, and consider the account paid off and the matter settled. The only drawback to this is the hit on your credit score but if debt relief is your goal this may not be a pressing issue.
Most companies don’t want to continue to waste time or man-hours on debts that will never be paid off or are non-collectable. So make an offer and your company may take it and consider the account paid in full. Now there is no guarantee they will do this but it never hurts to bring this out as a credit card debt relief option if you can.
Follow these tips and you may find yourself in a better position than you were before. Although, it is always a good idea to seek counseling on credit card debt, and work with a professional to get you back on your feet again. There is always a way to find credit card debt relief, and a credit counselling professional will always find the best avenue to pursue.