London-based Negotiating Credit Card Debt announced on Tuesday the launch of its new website aimed at educating consumers on how to choose a debt relief provider, the differences between foreclosure and bankruptcy and eliminating credit card debt.
The site features regularly updated blog posts that provide readers with insight on a number of financial and debt topics.
Credit card debt is on the rise and is likely to continue in coming years. According to experts, current economic conditions have contributed to the rise in credit card debt.
“Credit cards always come with high interest rates and it is an open secret that the people that are the most vulnerable are also the ones most likely to end up with too much debt and interest charges on their credit cards,” a company representative said. “The current economic conditions have resulted in an increasing number of people feeling pressure from these credit card companies.”
While bankruptcy is an option for individuals facing credit card debt, the process does have some disadvantages, particularly those that affect a person’s credit history and credit score.
The company representative said other methods that achieve the same goal—reducing or eliminating credit card debt—are available to consumers, adding that the website educates consumers on the details of such processes.
“With this ongoing long-term recession, an ever increasing number of people are struggling with credit card debt,” the representative said. “Unfortunately, those that are unemployed and retired are the ones that are suffering the most to wipe out credit card debts. Our aim is to provide impartial information to allow these vulnerable people to make some headway when it comes to negotiating credit card debt and tips on how to do this. If we can help just one person achieve this goal our job is done.”