Credit card debt can be eliminated in a number of ways.
Settlement is just one of them.
It is convenient and well organized to suit the financial situation of many people who are going through hard times financially.
The process entails having some of your debt forgiven by your creditors.
The amount to be forgiven largely depends on the amount of money that you owe to your creditors.
Credit card debt settlement normally has other important factors at play.
For example, your creditors will want to know how your records look like.
While this may seem like an intrusion of privacy, it is actually a way of establishing whether you really deserve the relief program or not.
In most cases though, you will still qualify for the program despite your bad records.
In other cases, the internal operation forces within a lenders debt settlement policy also determines the amount of liability that can be forgiven.
Lenders are normally consistent with these policies and it would take a lot of effort to convince them to be more lenient if they are not appealing to you.
It is also advisable for you to note that you will be required to eliminate all of the liability by paying the quoted figure up front.
The credit card debt settlement program normally has a negative connotation on your financial rating.
This is because it tells anyone looking at it that you were at one time unable to repay your liabilities and you had to appeal for some of them to be forgiven.
All the same it is a better way out compared to declaring bankruptcy.