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Are The Credit Card Bills Stacking Up?
If you’re struggling with your credit card debt, you’re far from alone. More than half of Americans with a credit card have debt they don’t pay off every month, according to a survey by CNBC Make It. What’s more, the average American credit card debt is $6,004, based on data by FICO.
Regardless of how much debt you have, though, not being able to pay it back can put a mental, emotional, and financial strain on you and your loved ones.
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What Is Credit Card Debt Relief?
Credit card debt relief is often synonymous with debt settlement, a process that allows you to settle with your creditors for less than what you owe. The process has gotten a bad rap because of scam companies, but it can be incredibly valuable if you’re already behind on payments.
To settle with a credit card company, you typically need to pay a lump-sum amount, which you and the credit card company agree on. It typically only works if you’re delinquent on your payments because there’s no incentive for the lender to accept a settled amount if you’re still making your payments on time.
You can try to negotiate with your lenders on your own. But if you decide to proceed with debt settlement through a third party, here’s how the process typically works:
- You stop making payments on the credit card debt you wish to settle.
- You enlist the help of a debt settlement company or a debt solutions law firm, which will notify the lender that you have plans to settle.
- You’ll make monthly payments to the company or law firm—for anywhere from a few months to a few years, depending on how much debt you have—which will be used to negotiate a settlement.
- Once the company or firm has enough to settle, it will negotiate a settlement.
In addition to the monthly payment for the settlement, you’ll typically also need to pay a monthly fee for the service, which can vary depending on the provider.
Of course, there are both pros and cons of debt settlement, so it’s important to consult with a professional who can help you make the right decision for you.
If you succeed, you can stop collection calls, avoid bankruptcy, and potentially save hundreds or even thousands of dollars. If done right, it can also make it easier for your credit score to rebound, especially because most of the damage has already been done by the time you consider requesting credit card debt relief.
Also, there are no guarantees with debt settlement, but it can help if you can show evidence of financial hardship and you work with a professional who knows the ins and outs of the process and also understands your rights as a consumer.
How Credit Card Relief Works with Tayne Law Group
Tayne Law Group’s credit card debt relief service can help you overcome the burden of credit card debt and get back to the things that matter.
Our debt relief program was developed with simplicity and affordability in mind so all you need to do is make one low monthly payment. We’ll negotiate with your creditors and settle your debts for a fraction of your original cost, allowing you to get out of debt and back to the things that matter.
If you decide to work with Tayne Law Group, we’ll design a credit card debt relief program that’s specific to your particular situation. We understand the need for affordability when it comes to debt resolution, so we take the time to tailor each of our payment programs to our client’s specific needs.
We also uphold a strict no-billing policy, so you’ll never have to worry about unexpected fees. All you’ll need to do is make one simple monthly payment and you’ll be on your way to debt freedom. Our talented team of debt attorneys and settlement coordinators will handle the rest
A Debt Relief Law Firm You Can Trust
Because we’re a law firm, we’re held to a higher ethical standard so you can rest easy knowing your money is in good hands. Tayne Law Group is accredited by the Better Business Bureau and is consistently praised for their commitment to their client’s and transparency. Plus with our open-door policy, you’re free to check in on your accounts at any time.
Our debt attorneys and settlement coordinators based in New York and Long Island will always take the time to make sure you completely understand our process and are comfortable with the program.
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Ready to Get Started?
Send us a message or give us a call to learn more about our credit card debt relief service and how we can help!
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