http://www.debtreliefadvice.com/credit-card-debt/credit-card-debt-reduction/ Credit card debt reduction can give you a whole new education. Who knew there were so many credit card debt reduction options? en-us Sat, 26 Jul 2008 15:00:00 EDT Sat, 26 Jul 2008 15:00:00 EDT Weblog Editor 2.0 If you've found this site, you are probably trying to learn about credit card debt reduction. We can tell you all you need to know about credit card debt reduction right here. Credit Card Debt Reduction - The New American Way? Have you ever heard the expression that "being in debt is the American way"? Or maybe it's "buying things on credit is the American way." In either case, Americans are in credit card debt to the tune of $800 billion!! It seems like the new expression should be "Credit card debt reduction is the American way!" But nobody likes to talk about needing credit card debt help. Therefore, nobody really knows much about it. For example, did you know that there are at least four different credit card debt reduction programs that specifically target credit card debts? Here are examples of a few that are geared towards credit card debt reduction: Debt Consolidation - This debt reduction program involves negotiation to get your credit card balances and interest rates lowered. Then the new, lower balances are combined and you make one monthly payment to the debt consolidation company, which they distribute among your creditors. Because of the reductions, you can become debt free in about five years. Debt Consolidation Loan - This is a low-interest loan given to you to pay off your credit cards. You pay your credit cards off immediately, but you still have the loan to pay back. Because the interest rate on the loan is so much lower than what you're paying now, you can have the loan paid off in five years or less. Debt Consolidation Mortgage - This allows you to borrow from the equity in your house to pay off your credit cards. Your payment is combined with your mortgage, and you get the same low interest rate as your mortgage. And remember--mortgage interest is tax deductible. Debt Settlement - Allows you to pay off your debts at 30-50 cents on the dollar. Generally, you have to have the money all at once, but some debt management companies will give you one to three years to pay it off. As you can see, you no longer have to be a slave to your debt for the next 18-30 years. Break free from that debt sentence with help from a credit card debt elimination program today. Sat, 26 Jul 2008 15:00:00 EDT