Or at least if feels like it now that I am debt free.
Debt Settlement is the most desirable credit card debt resolution method if you don't have any better options, and choose being debt-free over saving your credit score.
Again, there are two methods, doing it alone if you are strong willed, and soliciting the help of a debt consolidation company if you would like some help, which we will discuss on the next page.
Debt Settlement is the fastest way for you to become debt-free in the shortest amount of time. However, this "fast track" has some repurcussions that you should be aware of.
The best part about Debt Settlement is that it will stop the harassing calls from credit card companies, although they may contact you occasionaly during the 90-day settlement period to ensure that you will be making your agreed upon settlement payments.
Debt Settlement will require you to make settlement payments within 90 days of negotiating your debt settlement. For example, if you owe $10,000 and you negotiate a debt settlement of 50% on February 1st, you will be required to pay your credit card company $5,000 by May 1st.
They will usually allow for four payments such as $500 on day 1, $500 on Day 31, $2,000 on day 61 and then a final $2,000 on day 90. Coming up with this amount of cash may seem impossible, but I share with you how I did it in the video below.
In conslusion, Debt Settlement may be a good option for you if you don't see the necessity of accessing credit in the near future and would just like to be debt-free, regardless of the repurcussions.
Most people think that Debt Settlement is not a realistic option for them at this point because they don't think that they could ever come up with the large "balloon" settlement payments that are required.
I felt the same way. But let me tell you, once you see the light of day of being out of debt in less than a year, your resourcefulness and inginuity might surprise you.
Even after I was layed off from my job, I was able to come up with several thousand dollars to pay for my debt settlement. Watch this video for a look at the various ways that I was able to attract the money necessary to pay for several debt settlement payments (make sure to watch the humorous captions).