The Dolan Mailbag is full of questions from readers who are looking for credit card debt relief. So today we are going to talk about how a debt settlement program can help you.

For nearly a decade, Mike* struggled to pay off his credit card debt, making little progress. When the economy slowed in 2008, he finally realized that, unless he took drastic action, he would never be able to pay off the $50,000 he owed. Less than a year later, Mike has only $8,000 left to eliminate his credit card debt, and he can see the light the end of the tunnel!

Mike is one of a growing number of debtors who has decided to get out of debt by negotiating with his creditors through a debt settlement program. Not wanting to file bankruptcy, he enrolled with a debt settlement company, devoured the CDs and workbook the company sent him, then stopped paying his largest creditor in March 2009. He owed that credit card company alone a total of about $40,000 on three different cards.

Mike braced for a fight, expecting nasty phone calls as his account became delinquent, but they never came. He checked in with the credit card company every couple of weeks, and within eight months was able to settle with the card company for about a quarter of the amount he owed when he started the debt settlement program. He is now focusing on paying off the rest of his credit cards in full.

$136,000 in Credit Card Debt Relief

Lauren was juggling $120,000 in credit card debt on eight cards. Though her interest rates were all around 0%, the minimum payments she was making barely made a dent in her balances. Then her credit card issuers started raising her rates to anywhere from 20% to as high as 30%.

Her credit card debt very quickly ballooned to more than $136,000. In desperation, she called

Page 1 2 3 Next »