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4 best ways to qualify for credit card debt forgiveness

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Want to settle your credit card debt for less than what you owe? Here's how you may be able to do that.

Between average credit card interest rates hovering near 22% — and the relentless pressure of compounding interest — many cardholders are watching their balances grow at an alarming rate right now. Add to this the burden that inflation and other economic stressors are causing and it's easy to see how credit card debt can quickly spiral out of control.Carrying high amounts of credit card debt can have far-reaching consequences, though.

By demonstrating financial hardship To be considered for debt settlement, you typically need to show your creditors that you're experiencing genuine financial difficulty — no matter how much you owe. This could be due to job loss, medical expenses, divorce or other significant life events that have impacted your ability to pay your credit card bills.

 

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