As I mentioned before, I have been doing debt settlement now for over 5 years. One thing that is different these days is that creditors and collectors are accepting lower settlements than ever before. Due to laws and guidelines that are put into place by the FTC, a reputable debt settlement company is only allowed to give you an estimation of what you will save. In the past few weeks I have personally settled with Chase, Citi, Bank of America, American Express, and Advanta. All of these settlements were for a 60% savings or more of the original debt. One of them even had a pending judgment on it. I have posted most of these settlement letters in the “past results” section of our website.

This will not happen in every case, but it is becoming very common. When selecting a debt settlement company it is very important that you watch out for false promises. A good company will always give estimations and never promise exact numbers. Always ask them to see some past results that they have achieved. There are a lot of companies out there that have probably not even settled a single account. Don’t become their practice run. Go with a company that has proven success.

Having been in the debt settlement industry for so long, there is not much that shocks me anymore regarding credit. However, last night I watched a documentary on Netflix called “Maxed Out.”

It made light of how crooked the actual credit card companies, bill collectors, and even some government officials are when it comes to personal credit. It even illustrated how some people are driven to suicide due to credit card debt, as they feel it is the only way out!!!

I often hear that people have a moral obligation to paying back their creditors according to the agreements and fine print. I would strongly suggest that those people watch this film as it will show that the credit cards have an immoral obligation to keep those people in debt forever.

If you don’t have Netflix, you can still view this film online at http://www.maxedoutmovie.com . One other classic is called “The Secret History Of Credit Cards” which was a frontline special on PBS. This is a more cut and dry look at the facts of how the credit cards came to be in control of many things in this country. This video which is less shocking, but equally informative can be viewed for free at http://www.pbs.org/wgbh/pages/frontline/shows/credit .

If you are struggling with high credit card debt, I strongly suggest that you watch one or both of these videos and then find a program to help you get back on track. Don’t be frightened or bullied by bill collectors or credit cards that only have their best interests in mind.

I have been practicing Debt Settlement for over 5 years now in 2 different states. When the economy was good, debt settlement was still needed as there were many thousands of people that were living beyond their means in this country. The United States is probably one of the only places on earth that will give someone who makes $30,000 per year a credit card with a $100,000 limit and the ability to change the interest rate to 30% at any time.

Now that the economy has gone south and people are losing their jobs in record numbers, debt settlement has never been more important. I can honestly say that we are one of the only industries that are providing relief for citizens of this nation. The government is more concerned with giving bailout money to the same banks that are issuing these credit cards that are keeping people in a financial cage. Where is the bailout money for the average American?

On a daily basis I speak to people who are more concerned with paying minimum payments to credit cards than actually feeding their families. This should not be the case, but the credit card companies are allowed to place people in a state of fear, making some believe that if they missed a single payment that the sky would fall and the earth may end.

The fact of the matter is that credit card companies work together with debt settlement programs on a daily basis, and give great deals to help consumers free themselves from their debt. This allows these same people to start living normal lives again. A debt settlement company can take the same minimum payment that would take 30 years to pay off a debt, and get that same person out of debt in just a few short years. I know this is true because I have personally helped hundreds of people become debt free using this method for the past 5 years, including friends and family.

The most important thing is that you pick a reputable company to help you. As we all know there are many scam artists out there looking to profit from people’s misery. It is important that you ask about the good and the bad parts of a debt settlement program. If a company tells you that everything is going to be perfect and that there will be no negative side affects, you should probably run the other way. A lot of people fall victim to bad companies because when they shop around they are simply looking for the lowest price and don’t ask about all of the details.

It is also very important that the company you chose be an upstanding member of an organization called USOBA.ORG (The United States Organization for Bankruptcy Alternatives); they are like the BBB for debt settlement companies, and are one of the only consumer “watchdog” groups for this industry. With a lot of so called “Credit Counselors” actually working for the credit cards and Bankruptcy being harder to achieve; Debt settlement is a great alternative to get out of debt if you are having trouble doing so on your own. Just make sure you understand how the program works before you enroll and stay involved throughout the entire process.