subject: Reduce Your Unsecured Debt - How To Legitimately Reduce Unsecured Debt By 60% [print this page] At a time when cutting back expenses and saving money is so important, it is surprising that few people are using all of the tools available to reduce their credit card debt. This is usually because the average person doesn't understand how debt settlement works. One tool for debt settlement is a settlement company. If you have $10,000 in unsecured debt, which is typically credit card debt, you qualify for programs that the debt settlement companies have. These programs are designed to help eliminate approximately 60% of your credit card debt. However, if you do not have at least $10,000 in unsecured debt, you will have to try to negotiate with the credit card companies by yourself.
Many people believe one of two things - that type of settlement will improve their credit rating, or that it will completely destroy their rating. Both are wrong, in a sense. Debt settlement will have a negative impact on your credit rating temporarily, but in the end, your credit rating goes back up about to where it is now. If anyone tells you that they can settle your debts without having an impact on your credit rating, don't believe them. If your debt is such that bankruptcy is a very real possibility, you should know that debt settlement has a far better effect on your credit rating than bankruptcy will.
Once you've decided that you want to settle your debts, you should go to a debt relief network, instead of to an individual debt relief company. A debt relief network will have several legitimate companies that you can choose from within the network, and the network requires these companies to meet certain ethical standards. This protects you, and you will be able to settle approximately 60% of your unsecured credit card debt legitimately.
If you are considering getting a debt settlement it would be wise to utilize a debt relief network instead of going directly to a particular debt settlement company. The top debt relief networks only allow debt settlement companies into their network who have a proven record of successfully negotiating debt settlements. They must also pass an ethical standards test to ensure they are properly conducting business. Debt relief networks are the most efficient way in locating the best debt settlement companies.
To find a debt settlement company through a top debt relief network check out the following link:
