Debt settlement is a comforting term to anyone who is saddled with massive credit card debt. The stress that often comes with dealing with interest charges, late fees, and collector harassment sends many people to rush in search of debt relief. Settlement services are available online to offer you all of the support and counseling that you could possibly need as well as workable solutions for credit problems which are such a big problem in this country. According to the Federal Reserve, unsecured consumer debts rose from $355 billion in the 80’s to $1.65 trillion in 2001, and has only gotten worse since then.

A debt settlement service is offered for all unsecured debt, such as credit cards, medical bills, personal loans, and department store cards. When you get an unsecured debt, there is no collateral or property attached to the loan that can be seized for repayment which leaves most of us out in the cold. Secured debts include home mortgages and car loans.

What this means is that if a consumer defaults on the loan, property is repossessed as payment. Secured debts do not qualify for a settlement program for this very reason. Consumers that have at least $5,000 in unsecured debt may qualify for a debt reduction plan. Most of the other typical requirements for qualifying are that you must have proof of at least two unsecured debts and proof that there is a household income to rely on.

Once you sign up for a plan, most people will see that collector harassment stops. All creditors are informed to direct all of their correspondence to the settlement service. Negotiations will help reduce the amount owed to each creditor and it will be done by the settler.

Online debt settlement companies are available and many of them come with proven track records. They have developed relationships with creditors who trust their programs to operate honestly and fairly. Many customers will get reductions of up to 60 percent of their total debt. Negotiators may also work out a plan to get all of your bad debts removed from credit bureau files and develop monthly payment plans that work for all parties involved.

Most customers can look forward to being debt free in a reasonable period of time when they seek this option to reduce their debt. If you are interested, you need only to contact one of our Christian counselors using the form on the right for some free debt settlement help and advice. They will help you to lower your debt payments today without the risk of a home loan.