debt reduction

Don't let your accounts default further. If you are having a tough time paying the minimums, use some professional help. Talk to a counselor who can help you in negotiating with your creditors. Some credit companies will not want to work in the beginning but later, they will accept your proposal.

In a debt settlement program, the total amount of debt is reduced to a settlement amount after thorough negotiations have been done with the credit companies. It might take some time to get the deal finalized. You will have to send your monthly payments to a new account opened during the program. Once the creditors have accepted your proposal, money will be sent from the new account at once. Look into this page for a better understanding of a settlement program.

http://www.debtconsolidationcare.com/debt-settlement.html