When you want to get a clean financial sheet and are in need of credit card debt forgiveness by the credit card companies you need to read on because we have some great tips for you.

Last couple of years more people have made debt than ever due to the economic recession. A lot of these people are not able to pay off these debts and have a big problem. You can declare bankruptcy and get debt relief but a better way is to negotiate with your credit card company.

The case is that you own a debt that you can not pay at the moment, the credit card company would like to see money and will take a little bit of a loss if they know for certain they get a part of the total sum back. When you are going to negotiate with the company you can offer them for example 30% of the total sum and work with them from there.

You need to know that credit card debts that last seven years or longer are probably sold to a collection company. Your debt is sold to them for a fraction of your total sum.

If you have more than one debt it is useful to centralize all your debt at one bank. You can get one interest rate that is lower than having ten debts at ten different banks with ten different rates.

If you are a home owner debt consilidation can be very easy and simple. They can use their house as colleteral security and by doing so lowering rates of interest. One con for doing this is that when you have collateral security with your house the taxes on your debt are normally written off. People who get credit card debt forgiveness from the lender will not have these benefits because the law sees the spend amount as an income and for income you must pay taxes.

When you are going to negotiate credit card debt with your credit card company know that you can get 50% of your debt. Before makeing the call know what you are going to say and write down the answer you have or the things you definetely want to bring up in the conversation. Make notes when having the conversation and try to be calm, friendly and reasonable. If you find it really hard to conversate with people from the credit card company ask someone in your surroundings to do it or look on the internet for tips and tutorials how to conversate in that kind of situations.