Debt forgiveness can help you pay off your credit card debt. But, you should ask these questions when you sign up.
If you're struggling to make ends meet and high interest credit card debt is only adding to your financial hardship, you may be thinking about enrolling in a debt forgiveness program. These debt relief services typically offer meaningful savings by negotiating your principal credit card balances on your behalf. If those negotiations are successful, you could end up paying far less than you owe to pay your credit card debt off.
'You should know whether there are any associated costs,' says Joseph. Debt forgiveness companies typically charge between 15% and 25% of the debt you enroll in the program . So, it's best to try and stay on the low end of those fees. What happens if I'm unable to make a payment?Credit card debt forgiveness services are typically best for consumers who are having a hard time meeting their minimum payment obligations.
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