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Credit card debt negotiation

Does credit debt negotiation work?

When your credit card debt feels out of control and you are looking for answers, credit card debt negotiation may sound like a great option. Credit card debt negotiation companies promise that they'll get steep discounts from your creditors and that you'll only have to pay a fraction of the debt you owe.

But the truth is that paying off high interest credit cards and getting out of debt is never that easy. In fact, many credit card debt negotiation services may actually put you deeper in debt. These firms charge high fees and while they swear they can save you money by getting your creditors to accept pennies on the dollar for debt owed, in reality your creditors may not be inclined to lower your debt at all. In the end, you could wind up with additional fees and penalties and even have a lawsuit on your hands if you follow some common credit card debt negotiation practices.

For help understanding credit card debt negotiation and the other credit settlement options available to you, contact the helpful and professional credit counselors at American Consumer Credit Counseling (ACCC).

Get the truth about credit card debt negotiation from ACCC.

ACCC is a nonprofit organization that provides free credit counseling to individuals and families. Our mission is to educate consumers about the best way to get out of debt and how to live life debt-free. Our services also include bankruptcy counseling, student loan counseling and other financial matters as well as free educational materials and low-cost debt management services.

When you contact us for a free credit counseling session, our highly trained counselors will explain all of the pros and cons of credit card debt negotiation and help you explore the many alternatives for getting out of debt. We'll answer all of your credit card debt questions, including questions like "What are my credit card debt options?" and "How can I pay off credit card debt with loan programs?" We'll help you get a clear picture of your financial situation and document all of your income, expenses, assets and debts. And we'll help you determine whether credit card debt negotiation is ultimately the most effective choice for you.

Seeking an alternative to credit card debt negotiation?

For many consumers, we find that a debt management program is more effective than credit card debt negotiation. In our low-cost debt management plan, you'll consolidate all the payments you make each month to credit card companies and other creditors by making a single payment to ACCC. We'll then pay each of your creditors for you, ensuring that payments are made on time each month. We'll also work with your creditors to possibly reduce your interest rates and finance charges and put an end to late fees and over-limit fees. Ultimately, our debt management plan can help you reduce the amount of money you owe and get out of debt more quickly, usually within five years or less.

Learn more about the risks of credit card debt negotiation, and get answers to questions like "What is a debt management program?" and "How do I manage credit card debt most effectively?"

American Consumer Credit Counseling (ACCC) is a nonprofit organization that offers free credit counseling as well as counseling on bankruptcy, housing, debt management and strategies for getting out debt, including private debt consolidation loans and credit card consolidation loans. We also provide a wealth of information about student loan debt relief and can direct clients to resources for consolidating student loans, managing student loan default, applying for deferment or forbearance, qualifying for student loan debt forgiveness, and repaying student loans with a plan for lower monthly payments. Our counselors can help consumers explore all the options for the best ways for how to consolidate student loans and select the student loan solutions that eliminate, lower or consolidate student loan debt most effectively, based on a client’s financial situation, budget and financial goals.

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