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The average American family has over $15,000 in credit card debt1. Unfortunately, carrying a high balance on your credit cards can be disastrous to your credit and your state of mind. Each month you go without paying off your balance, you’re assessed finance charges, as well as late fees, if you’re unable to make your payments on time. This revolving cycle of debt can be extremely overwhelming. You might feel like there’s no way out. We know that feeling. Many of us at CareOne have faced and overcome our own struggles with debt, including our founder, Bernie Dancel, and several of our employees.
Fortunately, there’s hope. The good news is that there are options to help you work your way out of debt and back on track financially. One option you may want to consider if you have a lot of credit card debt is a debt settlement plan. In some cases, this is an effective alternative to declaring bankruptcy, which most financial experts view as a last resort.
However, a debt settlement plan isn’t your only choice when it comes to managing credit card bills and reducing your debt. If you’ve missed several bill payments, you can’t see a way to pay off your balances, or you’re not sure how to manage your current debt situation, you may want to consider some of the different options for debt relief
Enrolling in a debt settlement plan to work your way out of credit card debt involves negotiating with your creditors to pay back a portion of your balance. This type of debt relief comes with its own set of issues, and should be considered only if you simply cannot make your monthly payments given your current financial situation. When it comes to using a debt settlement plan as an approach to resolve your credit card debt, you can either work with a reputable debt relief provider, such as CareOne Debt Relief Services®, or you can contact your creditors directly to negotiate repayment of a portion of your balances.
Support and Guidance When You Need It Most
CareOne providers can create a personalized debt relief plan to help you work your way out of credit card debt. Our Certified Personal Finance Counselors® will work with you to understand your financial situation and your monthly budget, so that we can provide you with realistic options for repaying your credit card debt.
The providers of CareOne Debt Relief Services have relationships with many creditors and have helped over 5 million people. A personalized debt settlement plan may be able to help you pay off your credit card debt more quickly and avoid bankruptcy.
For those who decide to enlist our help, CareOne providers handle the negotiation process for you and manage your escrow account, which is where you deposit funds to pay your creditors. This can allow you to simply focus on getting out of debt and working toward a brighter financial future.
On the other hand, if you choose to manage the process on your own, here are a few tips you may want to consider:
Consider All of Your Debt Relief Options Carefully
A debt settlement plan can have an adverse effect on your credit. Because of this, you may want to consider the below options before enrolling in a debt settlement plan:
Learn More Today
If you want to learn how CareOne providers may be able to help you find your way out of credit card debt, call us today at 1-888-694-3328.
Once you’ve exhausted your options for debt relief, you may have made the decision to file for bankruptcy. If you’ve done your research, you know the Federal Trade Commission requires mandatory credit counseling for bankruptcy claims. It’s important that you understand the stipulations of the law, as well as your rights when it comes to credit counseling.
If you’re one of the millions of Americans with overwhelming credit card debt, you may have looked into a credit card consolidation loan to tackle your debt. And while a consolidation loan for credit cards can be a good option when you have a lot of bills to pay off, there are plenty of alternatives to consider. Each has its own pros and cons.
A debt consolidation loan can be a great tool for people with bad credit to help them get their finances back on track. By combining your existing bills into one new, monthly payment, you’ll be able to pay off most of your debts and work on becoming debt-free for the long term. But if you’re one of the many consumers with bad credit, you may be wondering whether you even qualify for a consolidation loan.
If you’re struggling with debt – as many consumers are – you may be looking for a way to pay off your bills and get back on track financially. Debt consolidation loans for bad credit profiles are one way to get out of debt, but you may be wondering where to look if you’ve been turned down by your bank or credit union. Before you go down the wrong road, take some time to realize there are choices for you, regardless of your credit history and financial situation
Bankruptcy. Just saying the word can bring a lump to your throat and put a knot in your stomach. What is bankruptcy, and how do you know if it's for you?
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