Credit Card Debt Settlement is a problem being faced by most people.
A large number of people are down with credit card debt.
The credit card companies are also equally helpless.
They know that if they do not recover some money at least from the credit card users they will be absolutely broke.
Thus both the creditors and debtors are looking for a solution.
This has led to a large number of options for Card Debt Settlement.
The various solutions available can be seen as different categories.
The first category is the counseling service.
There are many non-profit organizations offering free counseling.
Here some market operators are masquerading in the garb of non profit organizations.
They offer free advice and gradually lead you into paid solutions.
So be careful of such solutions when you look for Card Debt Settlement.
The other category of advice is under debt consolidation.
Here the concept is to put all your card debt under one head.
You are required to transfer all credit balances to a low interest credit card.
You end up saving a lot on the interest.
However it will take quite some time for you to clear your credit card debt.
These are the options available for Debt Settlement The next option is a debt settlement program.
This is one of the most promising options that provide hope to thousands of credit card users.
You are offered a loan at a very low rate of interest.
At the same time professionals negotiate with your credit company.
They will negotiate to waive 50 to 60 percent of your outstanding amount.
You clear off the balance of loan by making one lump sum payment.
Balance of the loan is cleared by you in easy installments in a period of two or three years.
This is a good option but available only to those users having over $10,000 in unsecured credit.