Curious to see an actual case-study of real people who went through a debt settlement program to get out of credit card debt? Meet James and Ann of Laguna Hills, California...
Back in 2004 this married couple had over $55,000.
00 of high interest credit card debt.
They were not able to make all of their minimum payments due to some medical problems James suffered, which had him out of work for a few months.
Missing payments combined with their already high debt ratios caused their credit scores to suffered, and their interest rates and minimum payments jumped up too.
Getting out of debt seemed impossible for the couple.
James and Anne were paying over $2,100.
00 a month in minimum payments when they decided to "do something" about their looming debt and crushing monthly payments.
They had equity in their home, and it was a stretch, but they worked with a mortgage company who was able to help them refinance and pull out a little over $30,000 to settle all of their credit card debt accounts, including all fees and costs.
James and Anne took this money from their home refinance and funded a debt settlement program with a lump sum.
They each had all three of their credit scores before they started their debt settlement program, which they received while refinancing their mortgage.
What was Their Story just Eighteen Months Later? ALL of their credit card debt was successfully settled for a total cost of just over $29,000, saving James and Anne more than $25,000.
The $2,100 monthly minimum payments they used to have disappeared permanently, giving the happy couple an extra $2,100 a month to spend and invest however they wanted.
Can you imagine the relief they felt?

Getting out of debt so quickly for such a low cost was a great success, but perhaps even more liberating was the fact that James saw his credit score jumped 74 points and Anne's score jumped 130!!

After settling all of their debt, they each pulled their credit reports BEFORE doing any sort of credit repair or credit rebuilding and were pleasantly surprised that debt settlement had dramatically improved their credit rating.
Can You Imagine How Anne Felt? Going from a 520 credit score just before starting her debt settlement program to 650 immediately after graduating? Imagine the relief she felt eliminating her debt and boosting her credit score while wiping out those huge monthly payments...
What Can You Expect From Debt Settlement? If people come into a debt settlement program with problems in all three major areas of their credit (bad payment history, high debt to income ratio and bad utilization) then the negative impact of debt settlement on their payment history has already happened.
By completing debt settlement and eliminating the credit card debt balances, the debt ratios see a very strong positive improvement.
This is what caused credit scores to jump for James and Anne.
People in similar situations to James and Anne can expect Debt Settlement to have similar, Positive Effects to their Credit.