How To Get Out Of Paying Credit Card Debt | Gamez Law Firm

When asked how to get out of credit card debt, my answer is that you can’t eliminate your credit card debt altogether. But you can negotiate with credit card companies to lower the overall amount you owe with a debt settlement. A debt settlement is a negotiation that the credit card borrower will pay back a usually greatly reduced amount of the total credit card debt that they owe in a lump sum or over an extended period of time.

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The biggest question I receive about debt settlements is “can you get out of credit card debt without it ruining your credit?” Yes, your credit score will decrease if you stop paying your credit cards and settle. The bottom line is that if you have already fallen behind on your credit card payments, then your credit score is already suffering. However, once you complete your debt settlement then your credit card account will be considered “paid in full” and your credit score will start to rise, and often it will rise fairly quickly. Completing a debt settlement to get out of credit card debt will increase your credit score far faster than spiraling further into credit card debt that you can’t pay. Find out your best debt relief options by scheduling your FREE consultation at GamezLawFirm.com

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