800 Credit Card Debt

“800 Credit Card Debt” is all you hear on the radio or TV anymore. With the engine of our economy stuck in reverse there has been a resurgence in the credit card debt help industry. Debt services vary in all flavors, shapes and sizes.

Most have heard of a Debt consolidation loan. A Debt consolidation loan might appear easy but is actually one of the toughest ways to eliminate debt. If you are concerned about your credit then a debt consolidation loan could be a good way to get debt relief. Debt consolidation loans typically have an interest rate this is not as high as your credit cards. The problem with a debt consolidation loan is that you have to put a secured item up for collateral such as a title or deed until you pay down your credit card debt. Homeowners typically refinance their houses to take out equity to pay off their debts. The upside to a debt consolidation loan is that it can be spread out over a longer period of time and have very little impact on your credit. They also take the most time and only save you a minimal amount of money.

The best alternative to a debt consolidation loan is the debt settlement program. It's not high risk because it does not tie to an asset. You can save a lot of money by going with a settlement program as well because you don't pay interest. Visit Go Debt Relief to find more information about these services and debt settlement.