Well I would like to begin by letting you know that debt settlement is a very icky subject. There are a lot of good things about debt settlement but, there are also a lot of horrendous things about it as well. In this article I will go over the good and bad and how you know if you should trust and take advantage of a debt settlement company.

I am going to start with the good aspects. Debt settlement programs are a great way to get out of debt. Debt settlement companies are able to settle your credit card debt for a fraction of what you really owe. This fraction is usually somewhere between 50% and 60% of what you owe. Basically what I am trying to say through the good section here is that debt settlement companies have the ability to save you a ton of money on your credit cards.

Now for the bad. Unfortunately I can tell you that this section is going to be a lot larger than the good section however I feel that it is important that you fully understand what you are getting yourself into when you choose to go with debt settlement. To start, debt settlement ruins your credit. In most cases, the sales rep will try and make it sound like it is not all that bad and you will only take a minor hit on your credit but unfortunately that is not the case! If you have an excellent credit score now, within 6 months of working with a debt settlement firm you will end up with a very poor credit report. Also, I want you to know that when you are paying a debt settlement firm to pay your debts, your money is actually going to end up in a trust fund as you build to the total amount of the settlement payoff. During all of this time, your credit score continuously slides down.

Should you work with a debt settlement firm? Well first off, if you are not considering bankruptcy, debt settlement is not the program for you. I know just as well as you do, times are tough right now, we are going through an economic melt down and have been for a couple years. Trust me I understand the facts. Even though times are tough money wise, there are still other ways you can go about getting help with your credit card debt! You should only use a debt settlement company if no one else is able to help you. There are a lot of key facts to remember when choosing a process to follow with your debt however, if you are concidering debt settlement I urge you to contact Jem Credit Cards. They help with the step before settlement to try and pull you out of the debt without harming your credit! You can contact them:

By phone – (561) 355-0069
By email – Support@JemCreditCards.com
On the web – JemCreditCards.com

Just another small piece of information Discover card offers the best credit cards by far.