Credit Card Debt Disaster? One Simple Move Could Save You.


Every time you look in your wallet and see your credit cards, you remember your debt. When you rip open your credit card statements each month, those dollar amounts ­– did your debt get bigger again? – are an overwhelming reminder that you’re going backwards.

It’s so stressful that, sometimes, you don’t even want to know how much you owe. It seems better that way, but it isn’t. It makes next month worse, along with that terrible feeling in your chest.

Eventually, you’ll start to wonder if there’s a way out. Making the minimum payment isn’t working. (For most, it will take 37 years to pay off the debts if you only pay the minimum amount due.) The outrageous interest and time frame can make it feel like prison sentence that’s destroying your family’s future.

Is Bankruptcy the Right Move?

You might consider bankruptcy, since it seems like an “immediate” debt relief option. Then you imagine the long-term damage, and you realize the consequences will probably outweigh the rewards for a long time. Will you ever be able to get a new car again? A home for your family? What will people think of you? Meanwhile, the debt grows.

Once in bankruptcy, the court controls every dollar of your disposable income for the duration of your case. Even if you get a pay raise during that time, the court can take your new income.

Another option for debt relief may be something called debt settlement. For many, it is a better choice than bankruptcy, since it can lead to being debt free faster with, ultimately, better credit sooner.

Finding the Best Debt Settlement Firm

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There are many debt settlement companies out there, and they all do something similar. When you sign with a debt settlement company, you stop making payments to your creditors. Then the settlement company negotiates with your creditors to reduce the total amount owed. Depending on the company, that reduction can be massive.

From a credit score standpoint, this can still have a negative impact – at least for a while. After all, you are only paying back a part of the debt. Still, that is much better than paying back nothing, like with bankruptcy; and if your cards are close to the maximum, your credit rating is already damaged.

What’s more, when you work with the right debt settlement company, you’ll be able to pay back the reduced sum in as little as 12-36 months. It is a fresh start that comes years sooner than if you were to file for bankruptcy.

The most important part of the process is selecting a reputable debt settlement company with a proven track record of successfully negotiating on behalf of clients. One such company, Elite Financial Services, has been helping clients significantly reduce their debt and pay it back sooner.

Elite Financial Services has a team of Certified Debt Specialists who are dedicated to reducing your debt.

They work together with you to negotiate a more reasonable debt amount with your creditors. Then they create an affordable payment plan for you, so you can get out of debt faster and for less money.

Finally, Elite Financial Services prides itself on being completely transparent – which makes them a standout in the industry. You’ll have complete, 24/7 access to your accounts and information throughout the program.

For more information on how to appropriately, effectively deal with your credit card debt, you can learn more at

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Last modified: December 13, 2018

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