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Nonprofit Debt Settlement Creditors agree in advance to accept 50%-60% of what is owed to resolve a debt. The debt is repaid in 36 monthly installments. If the consumer misses a payment, the program is canceled. Consumers can pay off the debt early, but there is no extending the payment schedule beyond 36 months.

I respectfully request that you forgive my alleged debt, as my condition precludes any employment, and my current and future income does not support any debt repayment. Please respond to my request in writing to the address below at your earliest convenience. Thank you in advance for your understanding of my situation.

Instead of paying a company to talk to creditors on your behalf, you can try to settle your debt yourself. If your debts are overdue the creditor may be willing to negotiate with you. They might even agree to accept less than what you owe.

National Debt Relief can work to reduce a negative bank balance if the account has been placed with a collection agency. For instance, you may be eligible for debt relief if you have an outstanding balance due to fees charged on overdrafts, non-sufficient funds, or a negative balance.

There are specific steps to a debt management plan that all must be followed with care to make it work: Create a spreadsheet. Determine a debt management strategy. Negotiate lower interest rates. Limit expenses. Track your progress and monitor your credit report.

While there isn't a specific government debt relief program solely for credit card debts, various options exist to manage and reduce your debt. These options, such as credit counseling and debt management programs, are available for different types of debts, including credit card debts.