Credit card debts are unsecured loans and hence have very high interest rates. Moreover, credit card companies often levy heavy fines and interest rates on delinquent debtors. This makes paying off these loans even more difficult. Added to the credit card debts a common consumer is also faced with other loans like car loans, home loans etc. Hence sometimes a debtor may find himself or herself in an impossible situation where he or she cannot pay off the loans in spite of all efforts to save money and reduce spending. In such a situation it is best to resort to a debt settlement program in order to eliminate credit card debts. Nowadays debt settlement companies realize that if debtors are pressurized to pay money which they do not have, they will be forced to file for bankruptcy. In this case the card companies will lose all their money, as credit cards are unsecured loans. Hence they try their best to help the debtor to become debt free. They assess the debtor’s actual paying capacity and negotiate the payable amount. They sometimes reduce the payable amount to 50% of the original one. This negotiated amount can either be paid as a lump sum or in installments. They also re-age the account to prevent it from showing as delinquent. They waive of penalty charges and do not charge interest on the amount payable even if it is being paid in installments. Another way to become free of credit card debts is to consolidate the various small high interest debts with a single consolidated one with low interest rates. Moreover, the debtor can also opt to convert the unsecured loan into a secured one, bringing down the interest even further. These are the methods by which a debtor can become free of huge credit card debts eventually. It would be wise to not go directly to a debt settlement company but rather first visit a debt relief network. The top debt relief networks only allow debt settlement companies into their accredited organizations that prove a track record of successfully negotiating debts and have also been certified. They are free to use and offer helpful debt relief advice. Free Debt Advice.