You will be continuously pay minimum amount for many months and the result will be the outstanding amount still exists in same shape.
This is the reason the credit cards are always massive.
The credit cards have no installment plan that is why it is difficult for a consumer to eliminate it by paying minimum amounts regularly.
If you want to clear your debts by the same way, then you will have to increase a certain amount monthly other wise go for debt settlement process.
Now it is time to fight back with the credit card companies.
The debit settlement programs were introduced to eliminate unsecured debts by the willing of customer and financial institute.
They both agree on an amount to clear the debt.
Now by debit settlement programs you can easily reduce your debts up to 50%.
This is only possible if the negotiation is good and affective.
The process of negotiation is the main factor of debt elimination.
If you go through the debt settlement company, more are the chances for best negotiation.
If you will follow the simple step guided by your debt settlement company, you can easily eliminate your debts up to 50%.
In this regard, first of all stop paying your credit card company in shape of minimum amount.
When you will stop paying, the creditor will call again and again for recovery.
Bear the calls for some time until creditor calls you for debt settlement.
Now it is your turn to fight back.
Do not pay for the maximum time.
More will be the time; more will be the chances to get better negotiation.
Now when you will go for negotiation with the financial institution there you need to have some knowledge of settlement process and some weak points of financial institutions.
This is only possible when you will go through the debt relief company because an ordinary person can not understand the technical financial issues.
Now your debt relief company will either force the creditor or use bankruptcy threat to reduce your outstanding amount up to 50%.
Financial institutions have privileges to eliminate loans to avoid bankruptcy at any cost.
This is the reason the ratio of debt settlements is increasing.