Credit Card Relief Programs - What's to Come for 2013?

Credit Card Relief Programs that are safe for consumers needing credit card relief are outlined in this article, along with the credit card relief programs that consumers need to stay away from. According to the Debt Education Center, from 2008-2010 there were credit card relief programs that ended up being more like scams, but thankfully the FTC regulated the industry and now reliable credit card relief programs are available to assist Americans.

San Diego, California (PRWEB) July 18, 2012

Rachell Donovan contributing editor of the site "No More Credit Cards" states that "debt settlement or debt negotiation is now a regulated credit card relief program and can be the fastest way to pay off credit cards, while also saving consumers the most amount of money in the end. Lawsuit defense, creditor harassment protection, asset protection and having a litigation preparedness program provided to consumers are all amongst the many necessary services that must go along with a debt settlement program. Any debt settlement company not including these key services for consumers that are entering into a debt settlement program, are failing to provide their customers with the level of protection that is needed."

Debt Management or debt consolidation can be a viable option for the consumer that has had only a slight decrease in their income and for the consumer that wants a lower interest rate. Debt management plans with A Rated debt management companies can be a safe option for consumers that qualify.

The 3rd option for consumers to examine would be bankruptcy. If a consumer is contemplating bankruptcy it is important for that consumer to first visit or speak with a consumer credit counselor or a counselor from one of the best debt settlement companies. Bankruptcy is of course a consumers last option to consider when it comes to credit card relief programs, due to the financial disaster that it can cause to their financial future.

Another good option if it’s feasible is to continue paying and staying current on credit cards. However paying minimum payments on credit cards is like a merry go round that will keep consumers paying on credit cards for their entire lives. Consumers should avoid only paying minimum payments if possible. Sometimes consumers can simply change their credit card payment strategy slightly where they will pay off credit cards faster and paying much less interest.

Now it’s time to look at credit card relief programs or ads that consumers should stay far away from.

Any ads online that mention "government credit card relief program" or "Obama credit card relief program" can be deceptive. These ads are most likely lead companies looking to capture a consumer’s information and then sell it.

If consumers speak with a debt company that offers what's called a "face to face debt settlement model", that is also a credit card relief program that is currently in the spotlight for being a dangerous option. These companies charge high fees upfront that sometimes add up to 25% of what the consumers total debt adds up to. The companies justify the fee by stating that they will come and meet with the consumer at their house prior to the consumer signing up for the program. In reality they are sending notaries over to the consumers houses that know very little about debt settlement. Consumers should stay away from these types of companies no matter how good they sound on the phone because it is not a safe credit card relief program.

Lastly, ads that state "erase your debt" or "eliminate your debt completely" can be scams. These ads lead to debt companies that propose to consumers that they can eliminate debt completely by finding loop holes in the law where consumers will pay back $0 on their debts, aside from the companies high fee. These are not legitimate credit card relief programs.

Some consumers simply need counseling and will not qualify for any credit card relief programs.

Melissa Arguelles, manager at Golden Financial Services says "It’s amazing how much money consumers can actually keep in their pocket or bank account by simply doing a basic budget analysis and restructuring their spending habits, or by signing up for the right credit card relief program depending on their situation."