One of the biggest stress factors throughout most adults lives are their finances. And usually the problem at the core of someone’s finances is their debt situation. Right now statistics show that the average American family carries a $10,000 credit card debt balance, and pays well over $1,000 a year in interest alone. Now that’s on the brighter side, many individuals are in debt that exceeds well over 10k putting people in a very rough situation, that can cause massive amounts of stress.
The simple answer to solve this problem would be to pay the debt off, however for some people this is much easier said than done. Especially when someone is being slammed with interest over 25%. This would take literally decades to pay off through minimum payments, which is exactly what the credit card companies want. So how can someone stuck so deep in debt get debt relief without filing for bankruptcy.
Well credit card debt settlement is the answer. This process can be a lifesaver for people who are very deep in debt, but would like to avoid having to go bankrupt. Usually through debt settlement one can save close to 50% of their current debt balance, and look to become debt free within just a couple of years.