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If you are unable to make your usual monthly payments on your credit card then there are ways to help you to settle your debt. Credit Card debt Solutions come in a variety of forms but the most common way is explained as follows. One method to Erase Credit Card Debt is to have what is commonly known as a discounted debt settlement arrangement set up. If a company finds that you have not made any payments to your account for a while and they feel that they will be unable to get the total amount that is owed by you, then they may well set up a discounted debt settlement offer.
This means that you will most likely not have to pay back the total amount payable but only a proportion. The only problem with this is that they will usually request the agreed amount back in one payment. A lot of times the offer correspondence from your creditor will arrive from a debt collection agency, so do not be alarmed. A proportion of lenders pass bad debts over to agencies who then get paid a percentage of any amount that they recuperate.
If they pursue you through the courts not only do they incur court costs but there is still no guarantee that they will get anything from you. They therefore figure that it is better to accept a lower amount from you instead of going through the courts to try and get the full amount.
If you take delivery of an offer letter what next?
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