Credit card debt settlement programs are a legitimate alternative to avoid bankruptcy but the question often comes up of whether or not you can do this by yourself. So does it make sense to negotiate with your credit card company directly or to use a professional debt settlement program?

The answer is really dependent upon your personal financial situation and also how comfortable you feel making over the phone debt negotiation calls. Negotiating takes a lot of patience and thick skin as well as the ability to call a bluff a bluff. Credit card companies and other creditors will try to get as much money from you as possible and it is important to not give in an settle for 75% of the balance when you could actually get a 55% settlement.

Professional negotiators know deep down what the majority of the large creditors will ultimately accept in a debt settlement offer. They've negotiated hundreds of deals and know what to say and when to say it. A good settlement program will be able to eliminate 40% of your unsecured debt balance. This is just the average however and cases vary considerably depending on the creditor and also the particular situation.

When deciding whether to negotiate by yourself or use a professional program it is important to realize that this is a lengthy process and you should budget time for writing letters and making several calls. Debt settlement programs do cost money but at the end of the day the legitimate ones can be a big help.

Getting out of debt through a debt settlement process is currently very popular but you need to know where to locate the best performing programs in order to get the best deals. To compare debt settlement companies it would be wise to visit a free debt relief network which will locate the best performing companies in your area for free.