Credit Card Debt Relief
Credit Card Debt Relief: Go From Debt-Stressed To Debt-Free Fast.
Sometimes, credit card debt piles up so fast that it starts denting even your peace of mind, let alone your finances. Mountains Debt Relief is aware that dealing with growing credit card balances is really stressful. This is why we offer you professional credit card debt relief services to get you back in control of your finances. Be it credit card debt consolidation, debt reduction, or debt management, whatever the need is, with our team, right support and solutions are assured.
How We Can Help You with Credit Card Debt Relief
There are many options for dealing with and reducing credit card debt. Mountains Debt Relief will find the right approach that suits your specific financial situation. Here's how we can help:
What It Is: Credit card debt consolidation rolls all the outstanding credit card debts into a single loan but at a reduced interest rate. This decreases the number of installments you make per month, which may save you money from interest accrued.
How it works: We work with you to find you the best options in consolidation, which can include getting a personal loan or balance transfer credit card. You can get rid of the stress that comes with having to deal with multiple payments and better focus your efforts on actually paying off the debt.
What It Is: Credit card debt settlement is a negotiation with the creditor to try and reduce the total amount owed. This can save you money and get you out of credit card debt much sooner.
How it works:We make direct negotiations with your credit card companies to settle your debt for less than what you owe on the balance. We can help you in making an affordable payment plan that works for you and helps you attain a settlement desirable for both you and your creditor.
What It Is: Debt reduction strategy involves the process of trying to reduce your debt through one of two methods: either a reduced principal balance or a reduced interest rate.
How it works: We assess your credit card accounts and work on how we can reduce your debt. This may also include negotiating the interest rate, waiving fees, and reducing the total balance owed. Our goal is to provide you with legitimate credit card debt help without financially stressing you out.
What It Is:Credit card debt management involves developing a systematic plan regarding how one can pay his or her card debts over time, budgeting, setting up a payment plan, and negotiation with creditors.
How it works: We shall be working with a personalized plan in debt management, fit for your budget and your financial goals. We will compile all your debts into one convenient monthly payment and pre-negotiate with your creditors to reduce interest rates so living within the bounds of your debt pay-off schedule is easier.
What It Is: Credit Card Debt Forgiveness stipulates the terms when, and only when, sometimes creditors may forgive part of your debt, especially when you are having a financially bad phase.
How it works: Our team will negotiate on your behalf with your creditors to settle and Forgive your credit card debt. This will not be guaranteed, and it's very relieving for you while taking back your financial stability.
What It Is: Credit card debt counseling is professional advice on managing or reducing your debt.
How it works: One of our certified credit counselors will work with you to understand your financial situation, give advice on budgeting, and provide tailor- made solutions for maintaining your credit card debt. We educate you on the best practices for debt management and empower you to make informed financial decisions.
Why Choose Us
Why Should You Choose Mountains Debt Relief for Your Credit Card Debt Solutions?
The choice of the right partner is important when it comes to credit card debt relief. Here's why Mountains Debt Relief stands out:
Experience You Can Rely On
Our staff of seasoned professionals provides expertise in all matters dealing with credit card debt help. We know what works and are dedicated to pursuing the best solution for your needs.
Personalized Solutions
We understand that no financial issue is exactly the same. Our solutions for credit card debt are tailored to your situation, so you get precisely the type of assistance you require.
Supportive Care
Debt can sometimes be overwhelming to live with and replete with stress. Our team offers kind and understanding service throughout, never expecting you to face your financial fears on your own.
Proven Success
We have helped countless clients reduce and eliminate their credit card debt. Our emphasis is on delivering real results that would bring long-lasting freedom from debilitating finances.
What Our Clients Say
“I had over $20,000 in credit card debt and felt there was no way out. Mountains Debt Relief helped me consolidate my debts into one easy payment and negotiated lower interest rates with my creditors. Now I'm finally making progress and can see a light at the end of the tunnel.”
“The team at Mountains Debt Relief was amazing! They guided me through the process of debt settlement and managed to reduce my credit card debt by thousands. Never thought I would be able to get out of debt this fast. Truly changed my life.”
“I was always anxious about my credit card bills, and it was taking a toll on my health. Mountains Debt Relief not only helped me set up an affordable repayment plan but also provided counseling and support. Thanks to their guidance, I'm now on the path to being debt-free.”
“Credit card debt was taking over my life, and I didn't know where to turn. A friend recommended Mountains Debt Relief, and it was the best decision I ever made. They helped me reduce my debt, and the monthly payments are now something I can handle.”
“I was very apprehensive initially to reach out for help with my credit card debt, but the team at Mountains Debt Relief made everything so easy. They were professional and friendly and really took the time to explain all my options. Now, I have a plan in place, and I'm paying off my debt faster than I ever thought possible.”
“Mountains Debt Relief changed my life. I was paying so much in interest on my credit cards that I felt like I would never get out of debt. They worked with my creditors to reduce my interest rates and set up a payment plan that fit my budget. For the first time in years, I feel like I'm back in control of my finances.”
Credit Card Debt Relief
Ready to take control of your financial future?
Explore our debt consolidation loan programs to get back on track.
FAQs
Which Credit Card Debt Relief Option Will Hurt My Credit The Least?
Method | Immediate Score Impact | Long Term Potential For Recovery |
Debt Settlement | Significant dip in your credit score (80 to 150 points) | Moderate |
Debt Management Plan | Minor dip (20 points) | High |
Debt Consolidation | Minor impact | High |
Bankruptcy | Severe score damage (more than 200 points) | Slow (takes between 7 to 10 years) |
If your goal is to preserve your credit score then it’s recommended to opt for credit counseling instead. It’ll keep your accounts active and help reduce your interest costs as well.
Is The Forgiven Credit Card Debt Taxed?
Yes, as per the IRS, if your creditor has forgiven more than $600 then it’s considered as taxable income. However, you should always consult a tax professional to know whether you qualify for an exclusion or insolvency.
What Are Some Of The Most Common Financial Hardships That Lead Debtors To Credit Card Debt Relief?
Most people who aren’t able to pay off their credit card debts are going through a serious financial shock. Some of the most common causes include;
- Overspending: Not being able to stick to a budget and making unnecessary and impulsive purchases.
- Inflation: Using more credit cards to cover high price essentials including gas and groceries.
- Medical Debt: An inevitable and unforeseen medical emergency or dental bills that aren’t covered by emergency funds.
- Not Having An Emergency Fund: Not having an emergency fund prepared can lead people to rely on high interest credit cards for unplanned expenses.
- Divorce: Moving expenses to legal costs of the process or any joint liability for credit cards can add up to financial stress.
How Much Can Someone Save On Average With Credit Card Debt Settlement?
As credit card debt settlement entails paying a lump sum of the total amount you owe to your creditor. On average, you’ll be able to save 40% to 60% of the total enrolled debt through settlement. In case you’ve involved a third party debt settlement service, the service fee will typically be (15% to 25%) of the total debt. This will leave you with net savings between 20% to 35%.
For example, if you owe $30,000, settle for around $20,000 to $22,000, pay $5,000 to $10,000 service fee, you’ll end up saving a reasonable percentage.
What Happens If You Aren’t Able To Pay Credit Card Debt?
If you can’t pay off your credit card debt, your account will become delinquent, interest and late fee penalties will start accumulating and eventually your credit score will drop. After 180 days or no payment, your creditor might charge off the debt and it would go into collections. You can even get sued for not paying your dues on time.
Timeline | What Happens | The Consequences |
1-30 days late | Due date missed | Late fee penalty ($30-$40) or higher interest rate |
30-60 days late | Reported to the credit bureaus | Your credit score will drop by 50 to 100 points |
60-90 days late | Several missed payments | Collection calls begin and more fee start accumulating |
90-180 days late | Your debt starts escalating | Your account will be charged off or closed |
After 180 days | Collection agencies/legal actions | A lawsuit is filed or your debt is sent to a collection agency. |
What Is Credit Card Debt Relief And What Makes It Different From Making Minimum Payments?
Credit card debt relief is a financial strategy where you negotiate with your creditor to reduce the total amount you owe. The main goal here is to pay off a certain fraction of your outstanding balance in a short time to make debt more manageable.
Debt Relief | Minimum Payments |
Reduces the total balance (50% or more) | You have to pay off the total amount you owe including high interest |
Loan term ranges between 24 to 48 months | It can take around 10 years or more, increasing the total interest over time. |
Helps you become debt-free faster without any accumulating interest | Your total balance barely goes down. Most of what you pay goes towards interest. |
When Is Bankruptcy A Valid Option?
Bankruptcy should be used as a last resort when you aren’t able to make any payments on your unsecured debts and when all debt relief strategies have failed. People typically consider it when their monthly debt obligations exceed their monthly income or when they face lawsuits or collection actions. Here’s when it makes sense to file for bankruptcy;
- You owe a significant amount ($15,000 to $50,000) of debt and can’t afford to make minimum payments
- Wage garnishment or lawsuits by creditors
- Debt settlement or management is off the chart for you
- Your income isn’t even enough to cover essential living expenses.
Is It Possible To Have Credit Card Debt Wiped Out Complete?
It’s very rare and it doesn’t really happen that your creditor simply forgives the entire debt you owe. You can’t get it erased completely unless you have a valid reason like identity theft or fraud.
Will I Still Receive Collection Calls When I Am Enrolled In A Credit Card Debt Relief Program?
Yes, it’s possible to receive collection calls while you are enrolled in a debt relief program but that happens only for a short time. The calls stop when your creditor formally gets into a settlement agreement with you or settles your account. Collectors are legally allowed to contact you until you have an agreement in place. Here’s why it happens;
- Your creditors haven’t paid yet
- You have a delinquent account
- Debt settlement takes time around 3 to 6 months
How Long Would The Entire Debt Relief Program Take For Me To Become Debt-Free?
On average, debt relief programs take around 24 to 48 months to complete entirely but it all depends on your total amount of debt, your income and consistency in your payments. Some consumers become debt free within 12 months but for people with more complex debts, it can take up to 60 months.
Important factors that affect the timeline;
- Total amount of debt you owe
- The monthly amount you deposit
- Type of program and fees
- Consistency in payments
- Type of creditors you are dealing with.
Credit Card Debt Relief
Take the First Step towards Financial Freedom Today
If credit card debt is holding you back, it's now time to take action. Contact Mountains Debt Relief today for more information about our credit card debt relief services and to set up a free consultation. Let us help you explore the best options available to you in managing and reducing your credit card debt, so that you can regain control of your finances and enjoy a brighter future.
