Credit card debt settlement can reduce your unsecured debt by up to 70%. Generally there can be a few pitfalls to avoid when you decide to move forward with Massachusetts Debt Settlement. Here are a list of 3 pitfalls you should avoid including:

1. Don’t use your credit cards – Regardless of your decision to move forward with a debt settlement plan, it is a good idea to discontinue the use of your credit cards. However, you should keep the credit card accounts open. Closing the accounts can affect your debt to available credit ratio and this can harm your credit score.

2. Trim the fat – It’s a good idea to get rid of any monthly expenses that you can. When trying to pay down existing debt, you don’t want to be adding additional debt to the pile. Living within your means will prevent you from incurring additional fees.

3. Pay off as much as you can afford at a time - Exceeding the minimum payment required on your credit card is a good idea. The minimum payment covers mostly interest on the card. By paying more than the minimum payment you are cutting into the principle debt. This will help you get your head above water faster.

It is best to seek the help of an experienced Massachusetts debt consolidation attorney. There are many advantages of hiring an attorney. Watch the video above for more information. Contact attorney Matthew Desrochers for a free case evaluation by calling (857) 244-1940 or filling out the form on the right.

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