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You can negotiate a credit card debt settlement💳

“If you're reading this it's too late”- Drake💯

In your case, it might be late but there is still some hope. Credit card debt is a nightmare. The debt continues to build due to compounding and the faster you get a hold of it the better.

We will briefly talk about the process of negotiating a credit card debt settlement and some potential consequences.⬇

Before you got to this point, I'm sure you have considered if paying off your debts or saving is a better option or which debts to pay off first.

Before we go any further, it is worth noting that not all credit card companies might entertain the idea of a debt settlement.💲💲

A credit card debt settlement works just like this. Once you realise it is mathematically impossible for you to repay your credit card debt and you have already missed several payments which has no doubt taken a hit on your credit score as well. Your next step is to contact your credit card provider and inform them that you are unable to keep up your obligation.✔⭐

You should then offer them a lump sum payment or a payment plan based on your income.✔💹

It is important to know your credit card provider may seek proof of any claims you make. Credit card providers will usually accept 20 pence for every pound owed.✔😱

The consequences of a credit card debt settlement.✔🤷‍♀️

The credit card will, of course, deactivate your card but you really shouldn't still be using it in any case!✔💹

If your credit card debt negotiation is classed as an IVA(Independent Voluntary Arrangement) this will negatively affect your credit score. You should confirm from your credit card provider in writing if this is the case.✔🔥

Credit card debt is worse than most debt because of compounding likely, the biggest thing stopping you from considering it, if you are truly desperate to get in control of your finances, is pride. It’s not worth it. Consider sucking it up, taking the temporary pain, and beginning to get your financial life back on track.⚱

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You can negotiate a credit card debt settlement💳
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