Credit cards are popular for the cashless shopping convenience that it gives to consumers.  It actually is a smart way to shop.  On top of the cashless convenience, there are rebates, savings, and freebies that some of these credit cards offer to their cardholders.    But, it only works if you use it wisely.  When get carried away with your credit card spending, it would not be hard for you to accumulate a loan balance that is more than what you can afford to pay.  That is obviously spending money that you do not have.  Any financial management book would confirm that this is one of the biggest mistakes you can make.  The result is a constant struggle to pay off your credit card bills as they continuously grow due to high interest rates and eventually, over limit fees.  Soon, you will have credit collectors breathing down your neck trying every trick in the book to get you to make your payments.  You do not have to deal with this.  You can get your quiet life back with a debt settlement plan.



A settlement would require an amount of money from you to pay off your debt.  This amount of money is considerably less than your total loan accountability.  You can negotiate with your creditor as to how much they can bring down your total loan balance so that you can reasonably afford to pay it in full.  They might allow you to pay the reduced loan balance in installments within a particular period of time.  With this option, there are no more interest charges that accumulate and add on to your loan balance every month.  You only play a fixed amount that goes towards your full payment of the negotiated loan amount.  Clearing your loans on your credit cards this way could bring your credit score down.  However, if you ask your creditor to indicate a pay for delete or a paid in full agreement in your negotiations, you can repair your credit in no time.  Meanwhile, as you build your credit record anew, you have to make sure that you do not get into credit cards spending that will get you back to the same sorry predicament.