Wouldn't it be nice if you could wave a magic wand and your credit card bills disappear? How likely is it that your creditors will be willing to forgive your credit card bills? Learn about the possibility of credit card debt forgiveness.

1. Getting Debt Forgiveness from your Creditors
By Paul Ritz
If you feel asthoughyouare drowningina seaof debt,itisa goodideato lookinto debtforgiveness
programs.It isbetterto ask fordebtrelief whenyourealise thatyouhave a problemratherthanto
waituntil the creditorsare houndingyoubecause yourpaymentsare late.
What Does a Debt Relief Company Do?
These companieswilltake alookat youroverall financial situation,discussanaffordablepayment
planwithyouand thennegotiate withyourcreditorstotryand bringthe repaymentprograminto
being.Youthenpay the agreedmonthlyamounttothe companyand theypassthison to your
creditors whenasettlementisreached.
Theycannot guarantee thatyourcreditorswill acceptthe proposal but,if theyare a goodcompany,
theywill make sure thatthe proposal isrealisticandthuslikelytobe acceptedbyyourcreditors.
Theybasicallyaskyourcreditorsto forgive some of yourdebtor negotiate alowerinterestrate or
fees.
Thishas to workfor the creditorsas well asforyou. Creditorswill considerthe proposal if itis
reasonable astheywanttheirmoneybackand know thatif youdeclare bankruptcy,theirchancesof
gettingthe moneydiminish.Notethatthe proposal needstobe realistic –that iswhyyou have to
deal witha professionalarbiterandnotsome fly-by-nightorganisation.
What to Do?
The firststepis to gatherall your financial infotogether–make upa listof all your creditors,the
monthlyrepaymentsandthe outstandingbalance.Thenlistall yourlivingexpensesforthe month
and alsowhateverincome comesin.
Go throughthese carefullyandsee if there are anyexpenses thatyoucan cut back on. Youare
probablygoingtohave to make some hard decisions –youwill probablyhave tocut downyour
standardof living.Anysacrificesyoumake now thoughwill helpyoutosecure yourfamily’sfinancial
future – isn’ta bit of hard livingnowworthfuture peace of mind?
Thensit andwork outexactlyhowmuchyou can affordto pay backin debteverymonth.
Find a Debt Management Company
Your nextstepisto lookfora debtmanagementcompany.Youwantto lookfora companythat has
a good reputationandthatis well-established.Lookatthe servicesthe companyoffers - youdonot
wanta companythat specialisesinonlyone area,butone thatcan counsel youon differentoptions.
Perhaps debtforgiveness isnotgoingto workfor you,dealingwithacompanywithexperience in
otherdebtrelief areaswill be able toofferasolutionforyouinparticular. Thisisone place where
youdon’twant a “one size fitsall”solution.

2. A sterlingreputationisimportantasthese peopleare goingtorepresentyou.If the companyhasa
bad reputation,theirproposalstoyourcreditorswill notcarryas much weightandyourcreditors
may lookonyou as lessthanreputable.
That the companyis well establishedisimportantbecauseitshowsthattheyhave the stayingpower
and experience tostayinbusiness.Thiskindof negotiationtakesagooddeal of knowledge and
experience inordertoensure asuccessful outcome.Make sure thatyouchoose a company thathas
that kindof knowledge andexperience.
Ideallyyoushouldbe lookingforacompanythat is an accreditedmemberof aprofessional
organisationsuchas the AmericanFairCreditCouncil orAFCC.Accreditationisimportantbecause it
meansthat the companyhas beenvettedbyonoutside organization.
Professionalassociationsrequire thattheirmembersadhere tocertainnormsandconventions –
usuallyinaneffortto improve the industryasawhole.Itshouldbe rememberedthatthe lackof
regulationinthe debtreliefindustrymeansthatthere are some reallybadcompaniesoutthere
whose interestisonlyearningmoney.Theseorganizationswill generallysteerclearof joining
professionalassociations.
What can they do for you?
Findout whatthe companycan dofor you – do theyofferanymoney-backguaranteesfortheir
services?(I.e.If theyare unable togetyourcreditorstocome to an agreement,will theyrefundyour
money?) A lotof companieswill make theirfeesapercentage of the moneythattheysave you.That
way,if you win,theywin.
Do theyofferanykindof moneymanagementcounselling?A goodcompanywill be interestedin
tryingto helpyoupreventthisproblemagainbyteachingyouhow tomanage yourmoney more
carefullyinfuture.
Do theyofferanykindof bankruptcyassistance?Some companieswill helptorefundyousome of
your moneytowardshiringabankruptcyattorneyshouldthe debtrelief programprove
unmanageable.
What kindof servicesdotheyofferonce the programis upand running?How easywill itbe for you
to getupdateson howwell youare progressing?Some companiesofferyouaccesstoyour account
online tomake thingseasierforyou.
Keepingtrackof your progressisimportant – itcan helptokeepyoumotivatedduringthe lengthy
processof payingoff your debt– it isencouragingtobe able tosee that yourdebtis actuallygoing
down.
Once you Have Settled on a Company
You needtosetup an appointmentwithaconsultantandtake all the relevantpaperworkwithyou.
Take along yourlistof income andexpensesandalsoyouraccountdetailswitheachcreditor.
Once the repaymentprogramisin place,youronlyresponsibilityistomake sure thatyou keepup
your endof the deal and keepthe paymentsuptodate.

3. 1-888-703-4948
www.nationaldebtrelief.com