There are many people that often inquire if they can use a credit card in the midst of debt settlement proceedings. The answer is “no” There are some debt settlement companies that suggest that you should keep a credit card for emergencies with low credit limit so that you avoid getting into further debts at all.
Now there are many debt settlement companies that take time as it really depends on the status of your account and the sum of the debt that you owe as well as the source from where you will be relying on for the settlement of funds. There are some people that complete the process of debt settlement in just 30 days. There are people that take three years for them to complete the debt settlement. The length of time for debt settlement depends on the individual situation of your debt.
There is confusion in some people as to whether debt settlement is the same to consumer credit counseling. The services are not the same as these services work for creditors only. Debt settlement is partially funded by creditors and here you are able to earn a percentage of what you should pay to the creditors. In some of the cases, you are expected to pay at least 100% of the debt and there are times where you pay a lesser rate of interest as the rates of payments can be made over an extended period of time. Credit counseling has the tendency to make money by earning a percentage of the amount that you need to pay creditors. The incentive is to get about 100% of the debt over to sitting down and negotiating reduced settlement amounts with creditors. The major incentive is to get the individual to pay about 100% of the debt as soon as possible. Our debt settlement program is so good that it allows the individual to be completely free from payments that have to be made every month after the entire amount has been negotiated in the form of a lump sum payment or a series of some installment payments that is to be paid every month.
When it comes to the debt settlement programs, you will find that there people who are confused as to the amount of money that is needed for you to settle debts. There are many individuals that have seen and witnessed great results when it comes to debt settlements using tested and proven methods. There are some reputed firms that have generated some great results for their clients and there is guarantee of predicted results in the future as well.
There are some individuals that ask if they are in a position to negotiate their debts on their own without hiring creditors. The answer is yes but the results may not be as positive as the ones where you hire creditors to settle the debts you owe. Banks do not take debtors very seriously and they are prepared for amateurs that like to negotiate themselves when it comes to debt settlement. This is the reason why you should opt for debt settlement companies to get the best for your needs.