Credit Card Debt Settlement Is a Delicate Dance

Everywhere you look, you see self-help content that explicitly tells you, or else implicitly operates on the assumption that winning at all costs is the only acceptable option. The Internet, where everyone antagonizes each other openly, seems to be united in the belief that everyone who does not get what they want through honest or dishonest means is a detestable chump, and by liking my video and subscribing to my channel, I can help you avoid being one. Doesn’t anybody compromise anymore? 

Compromise unfairly gets a bad rap; the Internet will have you believe that it is the province of sleazy politicians and of working moms who aren’t pretty enough to be trad wives. Compromise is underrated, though, especially when it comes to getting out of debt. It is legal and feasible to settle your credit card debt at a discount simply by negotiating a settlement with the credit card company.

Since the Internet is good at making you feel that there is someone else out there who has experienced the same things you have, even if you have never heard anyone say these things out loud, here is a secret. Lawyers do a lot more compromising and negotiating than they do fighting to the finish.  Most legal cases, including lawsuits about unpaid debts, end in a settlement before the judge can decide anything. Perhaps the best way to deal with your apparently insurmountable credit card debt is to think like an Oakland lawsuits, collections, and creditor harassment lawyer.

Tread Carefully When Choosing Between Credit Card Debt Settlement and Other Options

If you dispose of your debt through any means other than paying it down from your savings or employment income, it will adversely affect your credit card score, at least temporarily. This is true whether you declare bankruptcy, settle your debt, or take out a debt consolidation loan. Debt settlement is a good option if you cannot qualify for a debt consolidation loan, but you do not want to file for bankruptcy, or if you are currently ineligible to file for bankruptcy because your previous bankruptcy filing was too brief.

How to Successfully Negotiate a Debt Settlement Agreement With the Credit Card Company

When negotiating a debt settlement with the credit card company, be straightforward, be realistic, and be organized. Decide how much you can pay immediately as a lump sum to settle your credit card debt, call the credit company, and offer to pay it. Ask for a debt settlement agreement in writing. As soon as you receive the signed agreement, pay the lump sum. This will lower your credit score temporarily, but at least your credit card debt will be gone.  A debt relief lawyer can help you strategize about how to achieve this.

Contact the Law Office of Melanie Tavare About Getting Out of Credit Card Debt

A debt relief lawyer can help you negotiate a debt settlement agreement with your credit card company. Contact the Law Office of Melanie Tavare in Oakland, California or call (510)255-4646 for a case evaluation.