All Press Releases for September 10, 2009

What Exactly Is Debt Settlement? Credit Answers Looks to Explain the Benefits and Pitfalls of Debt Settlement

Credit Answers, a leading debt settlement provider, located in Plano, TX, wants their clients to understand exactly what debt settlement entails.



    PLANO, TX, September 10, 2009 /24-7PressRelease/ -- Credit Answers, a leading debt settlement provider, located in Plano, TX, wants their clients to understand exactly what debt settlement entails.

"At Credit Answers, we are sometimes amazed by the feedback we get from our clients regarding what they believe debt settlement actually entails. We are here to set the record straight so you can make a well informed decision in regards to your money and financial future. At Credit Answers, we believe that a well informed client is who we want to do business with."

-Bill Loughborough
CEO & President of Credit Answers


What Is Debt Settlement

Debt Settlement, also known as debt negotiation, involves a personalized plan that effectively enables a debt settlement negotiator to negotiate a compromise with creditors to settle unsecured debts. Once the creditor and debt settlement negotiator agree on a reduced balance and that lower balance is paid, it will be viewed as payment in full. Debt settlement has become a viable alternative to bankruptcy for thousands of consumers across the country. Debt Settlement does not stop collection efforts from taking place and does not remove your credit card debt overnight. The debt was not built up overnight so it naturally makes sense that it will not disappear overnight.

Credit Answers is dedicated to helping you live better debt free. We can settle your credit card debt or unsecured debt for a fraction of what you owe in many cases. If payments stop to creditors, balances continue to grow because of late fees and ongoing interest. A debt settlement negotiator can reach a compromise with the debt creditor on the new balance to reduce your overall unsecured debt amount.

Why Debt Settlement

For many, the outrageous interest rates charged by the credit card companies leads to a never-ending cycle of making minimum payments. In turn, the consumer never actually gets out of debt. With a debt settlement program, people have the option to change their spending habits and focus on a solution that will lead them to a better debt free life. While every case is different, debt settlement or debt negotiation generally can be completed in 36 months or less with payment plans you can afford, without filing for bankruptcy.

How Does Debt Settlement Affect My Credit?

That depends on what your credit looks like when you enrolled in the debt settlement program. But in general, if you do not make payments and do not pay your creditors according to the terms of your credit card agreement your credit will suffer. That is one of the trade-offs you will have to make if you are serious about reducing your debt.

Credit Answers realizes the importance of money in peoples lives and also the accompanied strain that debt can cause. To assist its clients, Credit Answers offers financial education with a commitment to specialized personal debt settlement service. Through long-term and established relationships with creditors, Credit Answers represents its clients vigorously. Credit Answers has been selected as one of the leading credit and debt professionals of the Western United States by Goldline Research and is a proud member of The Association of Settlement Companies (TASC). The firm is located just north of Dallas in Plano, Texas.

About Credit Answers

Credit Answers specializes in debt settlement, credit card debt negotiation and avoiding bankruptcy. Credit Answers works to enable a new and fresh financial start for individuals with debt problems. Visit http://www.creditanswers.com

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Contact Information

Bill Loughborough
Credit Answers
Plano, TX
United States
Voice: 972-202-5222
E-Mail: Email Us Here
Website: Visit Our Website