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Credit Card Debt Relief

Break free from the minimum payment trap. Reduce your credit card balances by up to 50%, stop paying 20%+ APR, and become debt-free in 24-48 months.

Reduce balances by 40-60%
One affordable monthly payment
Stop collection calls
No more high-interest charges
Check If You Qualify

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Credit Card Savings Calculator

See how much you could save

$25,000
Current Balance: $25,000
Potential Savings (50%): $12,500
Settled Balance: $12,500

Understanding Credit Card Debt Relief

If you're trapped in the minimum payment cycle, you're not alone. With average credit card APRs hovering around 22-24%, most of your monthly payment goes toward interest—not your actual balance. At this rate, a $15,000 balance could take over 20 years to pay off and cost you more than $20,000 in interest.

Credit card debt settlement offers a way out. Our trusted partners negotiate directly with your credit card issuers to reduce your total balance by 40-60%. Instead of making minimum payments that barely make a dent, you'll make one affordable monthly deposit into a dedicated account. Once enough funds accumulate, your debt relief specialist negotiates settlements—often for pennies on the dollar.

Why Credit Cards Are So Hard to Pay Off:

  • High APR: Average rates of 20-24% mean interest piles up fast
  • Minimum Payment Trap: Only 2-3% of balance, mostly goes to interest
  • Compounding Interest: Interest charges on top of interest charges
  • Multiple Cards: Juggling 3-5 cards with different due dates
  • Late Fees & Penalties: Miss one payment and rates can jump to 29.99%

Credit Card Issuers We Work With:

Visa Mastercard American Express Discover Capital One Chase Citi Bank of America Synchrony Barclays Store Cards Gas Cards

The Numbers Don't Lie

The average American household with credit card debt owes $7,951. At 22% APR with minimum payments, that takes 18+ years to pay off and costs $12,000+ in interest.

With debt settlement, you could pay it off in 24-36 months and save thousands.

Your Rights Are Protected

Debt relief companies must comply with the FTC Telemarketing Sales Rule and cannot charge upfront fees. Your funds are held in an FDIC-insured account that you control.

Is This Right for You?

Debt settlement works best if you have $10,000+ in credit card debt, are struggling with payments, and have experienced a financial hardship.

Minimum Payments vs. Debt Settlement

See the real difference in time and money

Making Minimum Payments

  • Pay full balance plus 20%+ APR
  • Most payment goes to interest
  • Balance barely decreases
  • Multiple cards, multiple due dates
  • 15-25 years to pay off
  • Pay 2-3x the original balance
  • Constant stress and anxiety

Example:

$25,000 credit card debt at 22% APR

Total paid: $58,000+

Time to pay off: 20+ years

With Releafly Partners

  • Reduce balance by 40-60%
  • Stop paying interest charges
  • One affordable monthly payment
  • Stop collection calls
  • Debt-free in 24-48 months
  • Save thousands in interest
  • Peace of mind and fresh start

Example:

$25,000 credit card debt settled

Total paid: $12,500

Time to pay off: 30 months

How Credit Card Debt Settlement Works

Get out of credit card debt in 4 simple steps

1

Free Debt Analysis

Complete our quick form and speak with a certified debt specialist. They'll review your credit card balances, interest rates, and monthly payments to determine if settlement is right for you. No cost, no obligation.

2

Enroll & Start Saving

If you qualify, you'll enroll in a debt relief program and start making affordable monthly deposits into your own FDIC-insured savings account. You stop making payments to your credit card companies during this time.

3

We Negotiate Settlements

Your debt relief specialist contacts your credit card issuers and negotiates reduced payoff amounts—typically 40-60% less than you owe. You review and approve each settlement before any payment is made.

4

Become Debt-Free

As settlements are reached and paid from your savings account, your credit card debts are eliminated one by one. Most clients complete the program in 24-48 months and save thousands in interest!

Do You Qualify for Credit Card Debt Relief?

Most people with $10,000+ in credit card debt qualify

You May Qualify If:

  • You have $10,000+ in unsecured credit card debt
  • You're struggling to make minimum payments
  • Your credit cards are maxed out or near the limit
  • You're paying 18%+ APR on your balances
  • You've experienced a financial hardship (job loss, medical emergency, divorce)
  • You can afford a monthly program payment
  • You're at risk of bankruptcy

May Not Qualify If:

  • Your total credit card debt is less than $10,000
  • You can comfortably afford current payments
  • Your credit cards are secured debt
  • You recently filed bankruptcy
  • You have no income source
  • You're already in a debt management plan

Not sure if you qualify? Get a free consultation to find out!

Check My Eligibility

Frequently Asked Questions

Get answers to common questions about credit card debt relief

How much does credit card debt settlement cost?

Most debt relief companies charge a fee of 15-25% of the total enrolled debt, but you only pay fees on debts that are successfully settled. There are no upfront fees by law.

For example, if you enroll $30,000 in credit card debt and settle for $15,000, you'd pay fees on the $15,000 settled amount (typically $2,250-$3,750), not the original $30,000. You still save thousands compared to paying the full balance plus years of 22% interest.

Will debt settlement hurt my credit score?

Yes, debt settlement will initially impact your credit score because you stop making payments to creditors while saving for settlements. Settled accounts are marked as "settled for less than full balance" on your credit report.

However, if you're already behind on payments, maxed out, or considering bankruptcy, debt settlement may be your best option. Most clients see their credit improve within 6-12 months after completing the program as they rebuild with on-time payments and lower debt-to-income ratios.

How long does credit card debt settlement take?

Most clients complete their debt settlement program in 24-48 months, depending on the amount of debt and monthly payment they can afford. Some clients with smaller balances finish in as little as 12-18 months.

Compare this to making minimum payments on $25,000 at 22% APR, which would take over 20 years and cost you $58,000+ total.

What's the difference between debt settlement and debt consolidation?

Debt settlement negotiates to reduce your total balance owed. You pay less than the full amount.

Debt consolidation combines multiple debts into one loan, but you still owe the full balance. You need good credit to qualify for a consolidation loan with a lower rate.

If your credit is already damaged and you can't afford your current payments, settlement is usually the better option.

Can credit card companies still sue me during settlement?

Yes, creditors can still pursue legal action while you're in a debt settlement program. However, most credit card companies prefer to settle rather than go through expensive legal proceedings.

If a creditor does file a lawsuit, your debt relief company will work to negotiate a settlement before a judgment is entered. Many settlements happen specifically because creditors want to avoid court costs.

Is debt settlement better than bankruptcy?

Debt settlement can be a better option than bankruptcy for many people because:

  • It's less damaging to your credit long-term
  • No court proceedings or public records
  • You avoid the stigma of bankruptcy
  • Faster credit recovery (6-12 months vs. 7-10 years)

However, every situation is different. A debt specialist can help you understand which option is best for your specific circumstances.

Will I owe taxes on the forgiven debt?

Possibly. The IRS considers forgiven debt as taxable income. If a creditor forgives more than $600, they'll send you a 1099-C form.

However, you may qualify for the "insolvency exclusion" if your total debts exceeded your total assets at the time of settlement. Most people in debt relief programs qualify for this exclusion. Consult a tax professional for your specific situation.

Can I keep using my credit cards during the program?

No. When you enroll in a debt settlement program, you must stop using the credit cards you're settling. The accounts will be closed or frozen.

This is actually a good thing—it prevents you from accumulating more debt while you're working to eliminate your existing balances. Many clients find this "forced discipline" helps them break the credit card habit for good.

"

I eliminated $28,000 in credit card debt and saved my family!

We had five maxed-out credit cards with APRs ranging from 19% to 27%. We were only making minimum payments and the balances never went down. Releafly connected us with a debt relief company that negotiated our $28,000 balance down to just $14,000. We stopped paying those insane interest charges and were debt-free in 28 months. It literally saved our family from bankruptcy!

— Sarah M., Denver, CO

Credit Card Debt Relief Client

$28,000 Original Debt
$14,000 Settled For
50% Savings
Happy family debt-free

Ready to Turn Over a New Leaf?

Get your free consultation and see how much you could save

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