It is truly sad that more people are not aware that it is very possible to settle credit card debt personally without ever having to deal with a legal representative. If the credit companies that you owe money to decide to take legal action against you, they will charge you with their no doubt costly legal fees.

It would be wise to call the credit card companies yourself and try to work out a settlement agreement with them on a personal basis. The credit card companies really don't want the situation to progress to the point where they have to take legal action, so they will probably be willing to negotiate even if your account has been delinquent for several months.

Start by trying to adjust your interest rate and lower service charges that have been applied to your account. Once you know what the credit company is charging you, you will be more prepared to negotiate effectively with them on a settlement.

They are much more able to negotiate over interest and service charges than the principle so you can start there with your settling credit card debt mission. Remember though that the interest and service charges are the credit card company's money and they are not going to be really excited to part with it so try and make a deal that works for both of you.

Then It Is On To The Hard Part

The money that you spent on purchases that has already been paid by the credit card company, called the principal, is the hardest aspect of your debt to negotiate over with credit card companies. They don't want to have paid for something and not have you pay them back.

The credit card company is not going to repossess or take anything, they just want their money. Asking them to mess with the principle is a tough request and do not be surprised if they will not move on the principle. If they gave you a deal on the interest and service charges then consider yourself lucky.

Regardless of what agreement you reach with the credit card company, you need to be prepared to follow through with your end of the deal. If you fail to meet the terms of your settlement plan, you can expect the credit card company to take aggressive action to get their money, not a second chance.