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How to find the best credit card debt forgiveness programs
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If you aren’t paying off your credit card balances in full each month, you may be putting yourself in a precarious financial position. After all, the average credit card rate has increased significantly over the last couple of years, climbing from 16.65% in 2022 to nearly 23% currently. That’s an uptick of about 36% in just two years.
So, if you’re carrying a balance from month to month right now, chances are that you’re dealing with a hefty amount of interest on what you owe. That alone can make it tough to balance your credit card payments with your other financial obligations. And, if your credit card balances continue to grow over time, there could be a point when it’s tough to make the minimum payments on your cards.
Should that happen, the good news is that there are debt relief solutions, like credit card debt forgiveness, that can help. When you enroll in a credit card debt forgiveness program, a debt relief company negotiates with your creditors to try and reduce what you owe in return for a lump-sum payment. That can be a good path to eliminating card debt, but it’s important to find the right program first.
See which credit card debt forgiveness options are available to you now.
How to find the best credit card debt forgiveness programs
These steps can help you determine what the best credit card debt forgiveness programs are for you:
Research reputable debt relief companies
Start by researching what well-established debt relief companies offer credit card debt forgiveness programs in your area. It can help to look for organizations accredited by the American Fair Credit Council (AFCC) or the International Association of Professional Debt Arbitrators (IAPDA). These accreditations indicate that the companies adhere to industry best practices and ethical standards.
It’s also important to make sure that any debt relief company you’re considering is properly licensed to operate in your state. You can check with your state’s attorney general’s office or consumer protection agency for this information.
Start comparing the top debt relief companies and learn more about your options today.
Check reviews and ratings
Read reviews from previous clients on independent review sites like the Better Business Bureau (BBB), Trustpilot or Consumer Affairs. And, during the process, be sure to pay attention to both positive and negative feedback. That way, you can get a balanced view of each company’s performance and reputation.
Take advantage of free consultations
Most reputable debt relief companies offer free initial consultations, so be sure to take advantage of the opportunity to speak with experts from multiple companies. That way, you can ensure you’re getting the best possible service and terms.
During the consultation process, ask each company about their programs, fees and approach to debt settlement. By comparing these factors you can better determine which companies make the most sense for you. Be sure to also ask each company about their success rates in negotiating with creditors. While past performance doesn’t guarantee future results, it can give you an idea of the company’s effectiveness.
Consider other factors, like creditor relationships and support
It can also help to look for companies that offer personalized debt forgiveness plans tailored to your specific financial situation. The ability to adjust your plan as your circumstances change can be crucial for long-term success.
You should also weigh whether the debt forgiveness programs have established relationships with creditors, which could potentially lead to more favorable negotiations. While this shouldn’t be the sole deciding factor, it could be beneficial if a company has a good track record with your specific creditors.
Evaluate the level of support and communication each debt forgiveness program offers as well. Do they provide a dedicated account manager? How often will you receive updates on your progress? And, what channels are available for you to reach out with questions or concerns?
Be on the lookout for red flags
You may want to rule out any companies that make unrealistic promises or use high-pressure sales tactics. Legitimate debt relief firms will be transparent about the risks and limitations of their programs, so be cautious of any company that:
- Guarantees to settle all your debts for a specific percentage
- Promises to settle your debts extremely quickly (e.g., in a few months)
- Asks for upfront fees before any debts are settled
- Claims their program has no negative impact on your credit score
The bottom line
If you want to find the best credit card debt forgiveness program, you’ll need to do some research and take numerous factors into consideration. After all, while these programs can offer relief for those struggling with overwhelming debt, they’re not without risks and drawbacks. But by thoroughly vetting potential debt relief companies, understanding the process and considering all your options, you can make an informed decision about whether debt forgiveness is the right choice for your financial situation — and which program makes the most sense for you.
The editorials editor of the Los Angeles Times has resigned after the newspaper’s owner blocked the editorial board’s plans to endorse Democratic Vice President Kamala Harris for president, a journalism trade publication reported Wednesday.
Mariel Garza told the Columbia Journalism Review in an interview that she resigned because the Times was remaining silent on the contest in “dangerous times.”
“I am resigning because I want to make it clear that I am not OK with us being silent,” Garza said. “In dangerous times, honest people need to stand up. This is how I’m standing up.”
In a post on the social media platform X that did not directly mention the resignation, LA Times owner Patrick Soon-Shiong said the board was asked to do a factual analysis of the policies of Harris and Republican former President Donald Trump during their time at the White House.
Additionally, “The board was asked to provide (its) understanding of the policies and plans enunciated by the candidates during this campaign and its potential effect on the nation in the next four years,” he wrote. “In this way, with this clear and non-partisan information side-by-side, our readers could decide who would be worthy of being president for the next four years.”
Soon-Shiong, who bought the paper in 2018, said the board “chose to remain silent and I accepted their decision.”
Garza told the Columbia Journalism Review that the board had intended to endorse Harris and she had drafted the outline of a proposed editorial.
A LA Times spokesperson did not immediately respond to an email requesting comment.
The LA Times Guild Unit Council & Bargaining Committee said it was “deeply concerned about our owner’s decision to block a planned endorsement in the presidential race.”
“We are even more concerned that he is now unfairly assigning blame to Editorial Board members for his decision not to endorse,” the guild said in a statement. “We are still pressing for answers from newsroom management on behalf of our members.”
Trump’s campaign jumped on Garza’s departure, saying the state’s largest newspaper had declined to endorse the Democratic ticket after backing Harris in her previous races for U.S. Senate and state attorney general.
Her exit comes about 10 months after then-Executive Editor Kevin Merida left the paper in what was called a “mutually agreed” upon departure. At the time, the news organization said it had fallen well short of its digital subscriber goals and needed a revenue boost to sustain the newsroom and its digital operations.
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The secretary of state’s office was the target of an unsuccessful cyberattack earlier this month, the agency confirmed to CBS News on Wednesday.
An official with the secretary of state’s office said the attack was an attempt to crash the absentee voting website, and it was discovered when the agency noticed a spike in attempts to access the site nine days ago, on Oct. 14. There were over 420,000 attempts made from around the world, which the official said was a coordinated attempt to make the website crash.
Security experts were ultimately able to thwart the attack. The secretary of state’s office said it still does not know who was behind the attack but suggested it may have been a foreign country.
Gabriel Sterling, chief operating officer for the office, wrote Thursday evening in a social media post that “this was a big win for our cyber security team and our partners. We work everyday to protect Georgia voters and our systems.” In a separate post, he said, “The attack was detected and mitigated quickly.” CNN first reported the cyberattack attempt.
The Cybersecurity and Infrastructure Security Agency is aware of the cyberattack and worked with the Georgia secretary of state’s office in the aftermath of the incident, sources confirmed to CBS News. The FBI has not responded to a request for comment.
Georgia voters have also been showing up for early voting, which began on Oct. 15. Early voters shattered records this year for the presidential election, the secretary of state’s office said, more than doubling early voting figures from 2020 on the first day, with 310,000 ballots cast, compared with 136,739 on the first day of early voting in 2020.
Georgia Secretary of State Brad Raffensperger predicted there would be record turnout in Georgia this year, telling CBS News’ Margaret Brennan on “Face the Nation” Sunday, “You look at the turnout — we’re almost pushing 1.4 million who’ve already voted early or who we’ve accepted their absentee ballots.”
Nicole Sganga and
contributed to this report.
