So you went through a few bad years where you misused your credit cards or you lost your job and relied on your credit cards to pay your bills. Now you are paying the price; you are in debt. With high interest rates and late fees, it is hard to get out from under card debt. A good start would be reducing the amount you owe. Is this just wishful thinking? No! It is a 100% legal process known as debt settlement, which can leave you with a debt reduction of up to 70%; 70% that you never need to pay back!

• What is debt settlement?

As mentioned above, it is the process of eliminating a percentage of your credit card debt. You or a professional settlement company will contact all credit card companies. When doing so, it must be shown that you are in financial trouble and the only way to proceed is for the amount of debt you owe to be reduced. A lot of times, the bankruptcy card is played because if you declare bankruptcy the credit card companies walk away with nothing. In today's troubling economy, most realize that getting a percentage of their money is better than none at all.

• Should I hire a professional settlement company?

As mentioned above, you can contact and negotiate with the credit card companies yourself, but this is typically advised against. Most debt-ridden Americans see a higher percentage of elimination when using the services of a professional company. Whether it be proper training or years of experience, employees of these companies know how to wheel and deal with the creditors.

• How do I find a good, legitimate debt settlement company?

You want to get started by first visiting the online website of a debt relief network. These networks are like consumer protection agencies that do the research, comparing, monitoring, and testing for you. Their goal is to pair debt-ridden Americans like yourself with legitimate settlement companies.

Debt settlement companies are so popular right now for a reason. The reason is that almost everyone is in debt and credit card companies are very concerned about collecting. They are being forced to agree to generous debt settlements and you as the consumer should take advantage of this.