The credit card settlement is a legal and smart way to get rid of the extra debt which you are unable to handle.
It surely will damage your credit rating by some extent.
But why bother for the credit rating anyhow it will be reduce as you are not able to handle the debt.
The smart choice is to get the credit card settlement and get your credit score reduced.
You can work on the credit score once you are free from the debt.
It will only take couple of months to get your credit score on the right track.
The credit card settlement is given by the creditors.
The costumer of theirs who is having unsecured debt of more than ten thousand US dollars is eligible to get the debt relief.
This is only the necessary condition not the sufficient one.
The final decision is up to the creditor to consider you for debt settlement or not.
From your part you can make your creditor to consider you for the credit card settlement.
To do this you should know why creditors are giving the credit card debt relief to you.
They are doing so to get their blocked money back as they are in need of the money to sustain their operation in the economic slowdown.
You can block their money and they will consider you for the credit card settlement.
When it comes to the credit card settlement the bad credit score is advantageous.
The less credit score increases the chances of getting high debt reduction.
Prior to sitting across the table with your creditor for the settlement you should ask for your creditor to calculate your consolidated debt.
The consolidated debt is in which all your debt will be clubbed together and gets you in the better position to analyze them.
More the amount of debt more is the reduced amount.
The debt relief firms are very handy to hire when it comes to credit card settlements.
They will get you the maximum debt reduction from your creditor.
They know all the tricks played by the creditors hence are better than us to handle the debt settlement.