Debt-Consolidation The internet is a wonderful resource, but there is so much rubbish in cyberspace that it can be difficult to find the nuggets of really useful information and sources of help and advice. Credit card debt is a problem for millions of people now, but there are some excellent sources of help available online. Knowing which websites are the best source of online debt help will depend on what sort of advice you need, so you first need to understand what kind of debt help you are looking for. If you have a mountain of credit card debt and you need help to get rid of it, there are several courses of action open to you. The right one for you will depend partially on your circumstances and partially on how you want to approach the problem. You must first decide on whether you wish to try to get the kind of help that will enable you to tackle the problem directly yourself, or whether you just want to find a good organisation to advise you and set up some sort of debt plan for you. If you prefer to use the services of an experienced debt company, there are two main options available. The most appropriate one will depend on your financial situation. One route is known as debt management (also called debt consolidation) and the other, for more serious debts, is called debt settlement. There are many organisations that offer excellent online services for both of these solutions. You just complete a simple online application form and they follow it up from there. Debt management companies offer credit card debt help through the provision of debt management plans to consolidate your debts. This is a process that includes an advisor negotiating with your creditors to set up new arrangements for paying back the money you owe, in such a way as to make it more affordable for you. They will generally agree new terms that mean you pay less interest, and often waive or reduce any additional fees or charges. This means your debts do not continue to grow and you just make a single payment to the debt management company each month, who then pass it on to your creditors. For a debt management plan to work, you need a certain amount of spare income each month in order to keep up with the payment plan. If your situation is so severe that you could not afford such payments, then the appropriate solution may be debt settlement. This is an entirely different process where a negotiator will work on your behalf to settle your debts for much less than the original amounts. You should expect up to 60% of your debts to be written off this way. If you wish to negotiate directly with credit card companies to agree settlements for your debts, that is perfectly possible to do, but you are going to need some detailed assistance. This kind of credit card debt help is available through various online guides, which tell you exactly what you need to do, including what to say on the phone, what to write in letters, when to ignore creditors and when to make offers to them. You cannot hope to get the best possible reductions on your debts unless your actions are based on a proper understanding of how the card companies operate. If you do settle your debts this way, you will maximise the benefit of the savings you make, because you will not have to pay a debt settlement company. Debt settlement does not happen in the UK because there is an alternative process which gets you the same basic result. This is known as an IVA and will still normally mean that a large part of your debt is written off. If you wish to approach a debt management, IVA or debt settlement company it is always a good idea to apply to about three different organisations so that you can see what they offer you and choose the best one. It is important to take steps to avoid disreputable companies, and the easiest way to do this is to follow recommendations for tried and tested companies, that are known to be very well established with a proven track record. About the Author: 相关的主题文章: