There is a misconception that only large credit card debts should be handled by debt settlement.
This is simply not true.
There is no real minimum amount of debt.
While most companies prefer to deal with debts of ten thousand dollars or more, this is generally because they are needing to maximize their profits.
There are really just some general guidelines when you are considering debt settlement and you do not have high credit card debt.
High debt is very subjective.
It depends on your debt ratio.
How much do you owe and pay out monthly, compared to how much you have as income.
In some cases even low amounts of debt could have a high debt ratio for a family that does not have a high income.
While many services may want you to have a certain amount of debt, you can still go to other services, like banks or credit unions to assist you.
You may not have much debt, but if you need to reduce how much you pay every month, you may look into a debt consolidation loan.
This does not reduce the amount that you owe, but it does reduce the monthly payment.
Consolidation loans accomplish this by combining the high interest loans into one, lower interest loan.
That helps to free up money month after month.
You do not need tens of thousands of dollars in debt to use this sort of service.
You just need a desire to get out of debt.
The biggest thing to consider when you do not have a high debt is the total cost to get out of debt.
You can make an estimate, based on monthly payments, interest rates, and other factors to find out how much it would cost for you to pay off the debts without assistance.
You can then take the offers for debt settlement and get a list of fees and total costs and determine which option is better for you.
There is no point in entering into debt settlement if the settlement costs you more than your debt.
You should look through all options when you are wanting to get out of debt.
Debt is debt, and it does not matter how large or small.
There is a debt settlement service that is right for you.