Debt Negotiation Solutions to Credit Card Debt Examined

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) October 22, 2008 -- Legitimate solutions to credit card debt are a critical need for many Americans who carry plastic money these days. This is true whether we talk about consumer debt solutions for credit card debt or commercial debt management solutions for business people who carry corporate cards.

And debt elimination without bankruptcy is an imperative aspect for both business and consumer debt solutions too, as the new bankruptcy laws can play havoc with ones life for years.

One website, Attract-a-Profitable-Home-Business.com, which provides informational services for entrepreneurs, as well as teaches site visitors about the psychological mindsets needed for success in home based businesses, devotes a section of its website to solutions to credit card debt - particularly deep debt where bankruptcy notions begin to creep into the mindset of people in financial trouble.

"Many businesses as well as consumers are letting credit card spending get way out of hand", says Bob Lormor, owner of the site. "Statistics show that 75% of start up small businesses fail within 5 years, and the government's SBA site states that roughly 35,000 - 40,000 small businesses go bankrupt each year. I guarantee you MANY of those were financing their businesses with credit cards."

Research conducted by Lormor shows that American consumers with credit cards owe an AVERAGE of anywhere from $2,000 to $10,000, depending on what study you look at. Lormor notes that one young couple, a doctor and a lawyer right out of college, even had as much as $500,000 of college debt, much of it on credit cards. MSN Money says that 8.3% of American households have $9,000 or more of credit card debt.

"When people get deep into debt, they tend to get desperate for debt solutions", stated Lormor. "Finding solutions to credit card debt tends to be what they are most desperate for. That's when they become most susceptible to debt reduction scams and debt elimination scams ."

Debt reduction scams and debt elimination scams are everywhere, particularly on the internet. Lormor noted that desperation is what keeps these scams in business. "Desperate people are willing to take desperate measures, just for the chance to get out of debt. The vultures will take your money with a smile and run".

That's why Lormor did research for his site visitors who are looking for help. He researched two popular, full service debt relief companies who offer solutions to credit card debt as well as other kinds of debt services. And not only did he pick these companies because they were popular, but also because they were listed with the Better Business Bureau (BBB).

But a BBB affiliation alone doesn't guarantee that a service provides legitimate solutions to credit card debt.

"There is a mistaken notion that any company that is listed with the Better Business Bureau must be a company in good standing", said Lormor. "But that's not necessarily the case. I found one debt relief program that had over 170 complaints listed in its BBB report over a 36 month time period! Obviously this was not a company with a very good standing", he said. "But I'm pleased to say that the two debt relief companies I researched only had FIVE TOTAL complaints listed in their BBB report in the previous 36 months, all of which were resolved".

What were the debt relief companies that Lormor did BBB research on? Are their solutions to credit card debt legitimate and effective?

Find the information at:
http://www.attract-a-profitable-home-business.com/best-debt-negotiation-companies.html

More information can be found online at http://www.attract-a-profitable-home-business.com/best-debt-negotiation-companies.html

consumer debt solutions     solutions to credit card debt