There are many misconceptions associated with credit card debt settlement that prevent individuals and small businesses from enjoying its benefits. To begin with, it is completely incorrect to say that credit card debt settlement is a recent phenomenon. It has been around for over 20 years.

In fact, the idea or notion of contacting the lender and requesting a relaxation in the total amount to be paid is as old as humanity itself. However, the United States formally recognized debt settlement as a card debt relief option in the late 1980s, when the financial sector was liberalized and the number of credit cards and other financial options in the economy increased. .

Second, credit card debt settlement is a proven method of debt relief because it is a regulated industry. Once again, there is a misconception that this industry is unregulated because there is no federal law that governs it.

Well, different states have passed different laws related to dealing with credit cards and other debts. In addition, the Association of Liquidation Companies and the American Organization for Alternatives to Bankruptcy are two bodies that carry out internal regulation. In such a scenario, it is incorrect to say that this proven method of debt relief is not regulated at all.

Third, this option has always been used when the total amount owed is very high and a bankruptcy could cause damage to both parties involved. In such a scenario, both parties came to a mutually beneficial conclusion.

To date, the average credit card holder has never been in a position to convince the lender to negotiate and reach an agreement. Today times have changed. Millions of people have filed for bankruptcy and this has hit credit card issuers very hard. That is the reason why there are remediation options available in the market.

If you want to enjoy the benefits of this solution without incurring any expense to educate yourself or spend time identifying the best debt relief option, you should seek out a professional debt settlement service provider.

At a nominal cost, you can get a significant portion of your debts completely discharged. This is all you need to overcome your debt problems today.

If you have any further questions, simply contact the service providers who will direct you to the right debt settlement company. With absolutely no fees involved, you’ll gain access to professional debt settlement service providers without any obligation or compulsion attached.