Highlight In Legal Rhode Island Debt Relief Forms For Free

Debt settlement programs are typically offered by for-profit companies to people with significant credit card debt. The companies negotiate with your creditors to let you pay a ?settlement,? or lump sum of money that's less than what you owe. They agree that this amount will settle your debt.

To pay off $10,000 in credit card debt, cut costs as much as you can, and put all your disposable income toward it. Lower your interest rate by getting a balance transfer card or a debt consolidation loan; if you can't qualify for those, call your card issuer and ask for a lower interest rate.

File for Chapter 7 Bankruptcy. If you're convinced that there's no way you can find the money to pay off your debt, then it may be time for a fresh start. Chapter 7 bankruptcy can discharge most, if not all, of your credit card debt.

Bankruptcy is your best option for getting rid of debt without paying. Before committing to filing bankruptcy, understand your options and the consequences that come with having a bankruptcy on 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.

Get professional help: Reach out to a nonprofit credit counseling agency that can set up a debt management plan. You'll pay the agency a set amount every month toward each of your debts. The agency works to negotiate a lower bill or interest rate on your behalf and, in some cases, can get your debt canceled.