Negotiate Your Credit Card Debt

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10 Corporate Drive Burlington, 01803 MA, United
States http//basicfinancecare.com/
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Credit card debt is one of the top reasons
consumers seek debt relief. American consumers
have 102 trillion in credit card debt, according
to the Federal Reserve Bank. As much we all want
to pay our debts on time, hardships like divorce,
medical bills and job loss happen. But that
doesnt mean the banks and credit card companies
are going to forgive the debt.
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Five Easy Ways to Negotiate Your Credit Card Debt
1. Talk to your credit card company 2. Negotiate
a lump sum payoff 3. Ask for a hardship or
structured payment plan 4. Workout another
payment arrangement long-term 5. Talk to a debt
relief specialist
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Talk to your credit card company
This is both the easiest and hardest step to
take. It is easier to avoid the debtthats why
debt collectors have such a hard job. But you
will have a better chance at negotiating your
credit card debt if you call them before they or
a third-party debt collector calls you.
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Negotiate a lump sum payoff
If you are having financial trouble, you may not
have access to a lump sum of money. But if you
can erase a lot of money off of your credit card
debt, think about asking a friend or relative to
borrow the money. But dont pay the full amount
with interest.
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Ask for a hardship or structured payment plan
Be sure to ask the credit card company if any
annual fee can be waived, too. Many credit card
companies have a hardship plan and will work with
customers with a positive payment history. This
is a good option if you think you will get back
on your feet in the near future.
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Workout another payment arrangement long-term
The downside is you will no longer be able to use
the cards credit limit (if it is not maxed out
already). This is often called a workout
arrangement because it will allow you to work
your way out of the payment. You will have to
stick to the arrangement you make or in many
cases, the credit card company will be able to
revert back to the original terms of the card.
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Talk to a debt relief specialist
Debt relief specialists can negotiate on your
behalf to have your credit card debt erased or
reduced. Be prepared to present all of your
financial records and not just the credit card
debt so that the debt relief specialist can have
a complete picture of your ability to pay. Using
a debt relief company takes the stress away from
you and helps you get your credit card debt
reduced.
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Contact Details
10 Corporate Drive Burlington, 01803 MA, United
States
james_at_basicfinancecare.com http//basicfinanc
ecare.com/
Thank You!!!