2. When it's Time to take a Credit Card Debt Settlement One thing that many people do not realize until it is too late for them is the shape of their credit reports. In fact, many people do not even know what is on their credit reports until they go to get a loan or make a large purchase of some sort!

3. Credit Scores Even though many people watch what their credit scores are, there are many other people that do not. Because of that, they have a very bad credit rating; which getting a credit card debt settlement can be the only thing that saves them! A credit card debt settlement is when a credit card company will offer a person a mark down on the amount of money that is owed to them; usually it is around 40% that is taken off the total amount.

4. Credit Card Debt Settlement When it comes to a credit card debt settlement, most people that get accepted for one usually only thinks about the positive things of them; however, it does have some drawbacks as well! In fact, one of the bad things that comes from getting a credit card debt settlement is that it shows up on your credit report as not being entirely paid off (it will show up as a partial profit or loss write-off).

5. Negative Factors To Go With The Positive Another bad thing about getting a credit card debt settlement is that it may show up negatively on your credit report because you did not pay the entire amount that was charged. As always, there are negative factors to go with the positive!

6. Credit Card Debt Settlement As for the positive things about getting a credit card debt settlement, there are many things. In fact, one of the best things about accepting the debt settlement is that you are able to pay your debt off much quicker; due to the fact that the credit card company is willing to reduce the pay-off amount.

7. Clean Slate Much Quicker Another positive thing about getting the credit card debt settlement is being able to get a clean slate much quicker; having all your bills paid off!

8. Downfalls Of Applying If you are interested in trying to get a credit card debt settlement, one of the downfalls of applying for them is that in most cases you must have over $10,000 in credit card debt in order to be approved. However, if you do not have that much in debt, then you may always apply for a personal loan or consolidation loan to get the credit cards paid off.

9. Feel Happy About The Decision You Make No matter what you decide to do, the most important thing to realize is that you should feel happy about the decision you make; especially because it is about your future!