Integrity First Financial

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Credit Card Debt Negotiation

Eliminate Debt through Credit Card Debt Settlement

Credit card debt settlement helps individuals stop the telephone calls from creditors and collection agencies and get out of debt. If you are getting mail and telephone calls for credit card accounts that are past due and in default, debt settlement can provide the solution to your financial troubles.

Credit card debt negotiation is used to reduce the amount of credit card debt owed and help you pay off debt faster. The credit card companies are willing to negotiate for payment on accounts that are in default. They are willing to negotiate because if you file for bankruptcy, they know they may get nothing, so they’d rather get a portion of the balance owed on the account.

The Credit Card Debt Negotiation Process

In credit card debt settlement programs, a debt settlement specialist will work with you to develop a budget that includes an affordable monthly payment to eliminate your credit card debt. This provides funds to use in negotiating with creditors and collection agencies. When an agreement is reached through credit card debt negotiation, the funds will need to be available to make the agreed upon payment.

A professional debt settlement specialist with experience in credit card debt negotiation will be assigned to you for the duration of your program. This provides professional guidance for creating your budget and negotiating settlements on delinquent accounts. Many consumers are able to eliminate debt within two years of beginning a credit card debt settlement program.

The consequences to your credit vary, depending on several factors. The way the pay off is listed on your credit report will affect the credit score. This can often be negotiated in credit card debt settlement. However, even if the debt is listed as settled or charged off, this is better than a bankruptcy on your credit score and for your future ability to obtain credit.

There are also tax consequences to credit card debt settlement. The Internal Revenue Service considers the amount forgiven on your debts to be income. Any amount of money that is greater than $600 that is reduced through credit card debt negotiation will be reported to the IRS as income and you will need to pay taxes on that amount. However, if the savings are significant, you will still save money and get out of debt.

In addition to getting you out of debt, credit card debt settlement programs can help you stay out of debt in the future. This is important for improving your credit score and maintaining a healthy and stable financial future. You will learn important financial habits and break bad habits to help you avoid getting back into debt.

Finding Help with Credit Card Debt

You need to find a reputable company with a proven track record of effective credit card debt negotiation. Integrity First Financial Services LLC has helped thousands of families eliminate credit card debt and get on the road to financial freedom. Our programs are designed to fit the income and ability to pay of the individual.

The first step in the credit card debt settlement process is to have a consultation with a professional debt settlement specialist. We offer consultations to provide you the opportunity to learn more about this viable alternative to bankruptcy. Visit our website to learn more and contact us for a consultation.

Contact Us

60 Lincoln Highway, Edison, NJ 08820
Tel: 732-662-9780 | Toll Free: 866-963-6443 | Fax: 732-662-9781

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