In most cases, consumers use the services of a professional settlement company, but you may want try negotiating credit card debt yourself.
Is this a good idea? What are the pros and cons of doing so? The Pros of Negotiating Credit Card Debt Yourself The money you will save because you don't have to pay a debt settlement company any fees.
The thing you need to remember here though is that this fee charged by professional companies is really reasonably.
It isn't going to cost you an arm and a leg.
However, you may be thinking "I am already in debt, why just add money to that total?" In that case, give it a try; start contacting the credit card companies.
The Cons of Negotiating Credit Card Debt Yourself The results might not be as good as you hoped.
In most cases, you see the best results when seeking professional help.
For starters, your credit card companies may turn down any settlement offers you impose.
They may do this for the sole reason that you are saying all the wrong things.
Then, you may get a reduction but it might not be a high as you had hoped.
It all goes back to saying the right things; professional settlement companies know how to wheel and deal with the credit card companies.
Yourself you may be able to get a 40% reduction in debt, but would you have preferred 60% or even 70%? Before making a decision, all consumers in debt should at least talk to a debt settlement company.
To find that company, use the services of a debt relief network.
These networks are always on the lookout for good, legitimate companies that they find through careful testing and close monitoring.
Once they find a good, legitimate company, they pass that information onto you.