If you’re trying to find ways to eliminate unsecured credit card debt and eliminate credit card debt without bankruptcy, American Debt Negotiators is the place to come. We can help you avoid the pain and embarrassment of bankruptcy and immediately reduce the amount you owe. Let us evaluate your situation and determine if our debt reduction program is right for you. If we feel you’re qualified, we’ll provide you with the pros and cons so that you can decide whether our debt reduction program is the avenue you should take. Based on our past experience with your particular creditors, we can give you a good idea of what to expect.

American Debt Negotiators recognizes that any credit card settlement or negotiation has to be a joint effort. We’ll keep you informed every step of the way so you can remain actively involved throughout the process.

Let’s get started on getting you out of debt and on with your life. Check out some options that can help you eliminate unsecured credit card debt below.

What are your 5 options when you are struggling with credit card debt?

1) Continue to struggle on your own:

• You can handle the problem yourself, by trying to scrape up enough every month to make your minimum payments. By making the minimum payments, you are keeping the wolf from your door for a little while, but it has serious drawbacks.
• You will pay much more, and take a much longer time to pay it off. - Almost all of what you are paying is interest, and doesn't lower your principal balance much. If you pay the minimum payment every month on $30,000, it will take you 33 years to pay off your debt, and you end up paying over $87,000 over that period. That's almost three times the original amount of your debt!
• You will keep the debt for longer, so you will keep the stress for longer. - Maintaining high amounts of debt is stressful, and so is struggling financially just to keep up. Stress over long periods of time can hurt your health, your relationships, and your work performance.
• If you stop paying your creditors, they can sue you. This can lead to a judge deciding to take the money from your bank account garnish your wages, or take your possessions.

• This may seem like a good idea; after all, the interest is sure to be less than your credit cards charge and you will only have to make one payment. But beware!
• You are not getting rid of your debt. You are only trading one kind of debt for another.
• If you don't make your payments on time, you could lose your home. Many debt consolidation loans use your home as collateral. Now you are taking unsecured debt (credit card) and turning it into secured debt. Enroll in a credit counseling program You have probably seen lots of ads for consumer credit counseling. There has been a huge growth in the number of companies that offer this service. Be careful, though! This may not be the best way to deal with your debt.
• You end up paying all of your principal back, plus interest. Credit counseling does not reduce the amount of your debt. It doesn't even eliminate your interest, only reduces it.
• The federal government has been investigating unscrupulous credit counseling companies that take your money and don't pay creditors on time, leading to more fees and interest that you have to pay!
• Credit counseling companies are funded, in part by the credit card companies, so they work for them, not you . The credit card companies actually pay the credit counseling agencies a percentage of what you owe, so there is not much incentive to get you a better deal.
• It takes longer to pay off your debt. Credit counseling programs typically take 5 years or more to pay off your debt.

3) Enroll in a credit counseling program:

• You have probably seen lots of ads for consumer credit counseling. There has been a huge growth in the number of companies that offer this service. Be careful, though! This may not be the best way to deal with your debt.
• You end up paying all of your principal back, plus interest. Credit counseling does not reduce the amount of your debt. It doesn't even eliminate your interest, only reduces it.
• The federal government has been investigating unscrupulous credit counseling companies that take your money and don't pay creditors on time, leading to more fees and interest that you have to pay!
• Credit counseling companies are funded, in part by the credit card companies, so they work for them, not you . The credit card companies actually pay the credit counseling agencies a percentage of what you owe, so there is not much incentive to get you a better deal.
• It takes longer to pay off your debt. Credit counseling programs typically take 5 years or more to pay off your debt.

4) File for bankruptcy:

• Bankruptcy is considered to be a last resort; a choice to make when everything else has failed.
• Emotionally and financially difficult, bankruptcy is a matter of public record, so anyone can find out about it.
• It will stay with you for life . Bankruptcy stays on your credit report for up to 10 years, and you will have to answer the question "have you ever declared bankruptcy?" even after this, whenever you apply for a loan, employment and other important things in your life.
• You will lose your assets . Part of the bankruptcy process is that the judge orders that certain assets of yours be sold to pay your creditors, so you can lose property, possessions and cash accounts.

• Huge savings. You will pay only a portion of the principal balance you owe, typically around 40% of original balance.
• Low monthly payments. You settle one card account at a time, so the payments are affordable.
• Fast payoff. You can eliminate your debts in 15 to 36 months. Because you a paying off accounts individually, you will see immediate progress eliminating balances.

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