Let us first review the situation before taking it forward. You are head-over-heels in unsecured debt and have no idea where you are going. You are barely keeping up with the overhead costs let alone the increasing interest and the Annual Percent Rate (APR). At times like these you can be sure that your credit score is not getting any better. In fact you run the risk of being completely ruined.
It is a very good idea then to start looking for Debt Relief Programs to help you in cleaning up your unsecured debts. These programs are available extensively. Searching for such programs over the internet is as easy as entering your search item in the browser of your favorite search engine. You will be overwhelmed with the results you get.
The debt relief programs are specifically designed to offer the best monetary solutions and financial counseling to lower the debt you have to pay to your credit card company. Most of these companies only accept percentage of what they help you save. So, they do not charge you if they can not help you. These programs are offered by debt relief agencies, affiliated to debt relief network.
Banks and credit card companies usually maintain files on their clients and prepare a credit score for them. Before you can apply for a new loan or for a credit card, the lender will go through your credit score and determine whether to give you a loan or not. Now, if you employ a debt relief program to eradicate your debts, it is recorded in your file and your credit score is lowered. Securing a loan or a credit card in the future could be tasking for you due to your lower credit score.
But if you are wiped out while paying credit card bills, there will be little left for you to deal with after you pay off. Tomorrowmore, if you can not afford it today, it means you can not afford it at all. If you default on the date of payment, it will not look good on your credit score either. Whereas, going in for a Debt Relief Program will only marginally lower your credit score when you compare it with inability to pay. So, employing a Debt Relief Programs is definitely worth taking a Lower Credit Score. It is a risk, but look at it this way; you will not be any worse than you are now.