At Cain & Daniels, we have a wealth of experience when it comes to dealing with debt in an efficient, professional and competent way. Credit card debt settlement cases are no exception.
Credit cards are commonplace in modern life, and certainly serve a purpose. Basically a credit card works by providing the user with immediate and convenient access to money, which they then have to return to the financial group upon the agreed date.
This does not have to be the full amount – there is usually an agreed upon minimum balance based on your credit rate, history and the bank you are using. If you are unable to pay this minimum amount for any reason, you will begin to incur charges. This is when an individual can begin to get into trouble; late fees mean more money to be owed and then debt can start to rack up every month.
Credit cards can be subject to extremely large fees, and so in no time you could be in a serious situation and feel yourself getting deeper and deeper into debt – this is when you may need to find help.
Credit card debt settlement is the process of settling the entirety of the debt of your credit card, preventing the need to go to court or declare bankruptcy. This can be done by hiring a debt settlement agency to negotiate with your creditors to receive a lump sum.
Lump sum means the overall amount that you owe on your credit card. This can be greatly reduced, as the creditors accept a lump sum. The amount of this sum is based on negotiations, which can be done on your behalf by a settlement agency, such as the service Cain & Daniels provides.
You do not have to deal directly with the creditors; instead Cain & Daniels will come to a solution which fits your company in order to make you debt free as soon as possible. You will pay in installments until reaching the agreed upon amount, making the process easier and faster – and of course ensuring you become debt free and can continue running your business without the stress of creditors hanging over your head.
It may seem odd that a financial institution will want to settle for a smaller amount. It makes sense if you think of the alternative for them; court cases, bankruptcy, these options cost money and may mean they will get none of the debt from the credit card back.
As Cain & Daniels specialize in this type of debt, they know the limits and how to negotiate with creditors for you. This means they can help to not only get you a reasonable settlement, but also can do it quickly, meaning you’re free to get on with your life.
You will always know your settlement amount before you hire us to represent you.