When debt becomes overwhelming, it can feel like you are in a hopeless situation. But there is plenty of help available for you to settle credit card debt.

Debt settlement help comes in a lot of different forms. To narrow down which is the right one for you, start at LoanexFastCash.com and click on Debt Settlement to learn more. You can also fill out a short form to get the process of settling your credit card debt started.

Pennies on the Dollar
We’ve all heard of people who had the balances on their credit cards erased with professional help. But is it true?
No, say officials with the Federal Trade Commission (FTC), the nation’s consumer protection agency.

But professionals can help you settle some of your debt. In fact, you could even settle your credit card debt yourself, but it’s often easier to let a professional take over as the emotional toll of being in debt can hinder your negotiating abilities.

What the professional debt settlement services do is negotiate with each of your creditors to reduce the amount you owe. These debt settlement companies also can negotiate lower interest rates on your credit cards.

The problem is that some disreputable companies make promises they don’t keep. These shady companies tell you to send your monthly payments to them, then they will negotiate with the credit card companies and make the payments for you. Unfortunately, too many people in dire financial straits find themselves scammed out of their last assets and ruining their credit even more when the companies did not make the payments as promised.

So How Do You Find a Reputable Company?

1. Do Your Researches

   Start at LoanexFastCash.com, but also check other sources to ensure that the company you are thinking of working with to settle your debts is reputable. An easy way to do that is to enter the company name along with the word “complaints” in an Internet search engine. Read what others have said about the company before giving them your trust.

2. Ask people you trust if they know of a reputable debt settlement company.

   There also is a list of government-approved organizations at www.usdoj.gov/ust, the website of the U.S. Trustee Program, which supervises bankruptcy cases.

3. Red Flags
   • The company charges any fees before it settles your debts;
   • Promotes a “new government program” to bail out personal credit card debt;
   • Tells you to stop communicating with your creditors;
   • Tells you it can stop all debt collection calls and lawsuits; and
   • Guarantees that your unsecured debts can be paid off for just pennies on the dollar.

Avoid doing business with any debt settlement company if you see any of these warning signs.

Making it Work

There is plenty of debt settlement help available that is trustworthy. Once you’ve done your homework, such as searching at LoanexFastCash, you can make an informed decision on who best to approach for professional help to settle your credit card debt.

Some positive things to looking for:

• See if the professional debt settlement service is a member of the American Fair Credit Council, which is the leading debt settlement industry trade group. The council makes sure its members stick to the rules that have been put in place to protect consumers like you.
• No bullies allowed: A reputable debt settlement firm that has your best interests at heart will not pressure you into working with them or force you to move faster than you are prepared to move.
• A reputable company will give you both the good news and the bad. It should inform you as to how the debt settlement will affect your credit score and how to protect yourself in the event creditors continue trying to collect on the debt.
• The debt settlement company also will fully explain its fees for settling your debt. Even non-profit debt settlement firms will charge some kind of fee for each debt it settles. Remember — those fees can’t be charged until the debt is settled.