According to a recent statement made by FICO, the company responsible for the advent of the credit score, the negative effect of filing bankruptcy can stay on a consumer's credit report for up to ten years; additionally, a bankruptcy can lower their credit score by up to 240 points. FICO went on further to report that debt settlement is a better option for consumers who are concerned about the impact bankruptcy will have on their credit rating. Credit Card Debt Champions is now available to assist consumers across the United States in consolidating their debts. With the debt consolidation program offered by Credit Card Debt Champions, consumers make one monthly payment which is dispersed among the creditors with whom the consumer currently has past due accounts. Consumers find that working with trained debt negotiators has been key to helping them resolve their issue of debt. The staff of Credit Card Debt Champions are skilled debt negotiators who represent the consumer in reducing the rate of interest that is paid on their credit cards. The lower interest rate in turn lowers the balance on the credit card, allowing the consumer to get out of debt faster than they could on their own. Credit Card Debt Champions is not a means for consumers to eliminate their debt. Rather, it is intended to consolidate all debt payments into one and thereby allow the consumer to pay off debt faster. Credit Card Debt Champions also works with consumers to establish and maintain a household budget. Having only one monthly payment to make to their creditors streamlines and simplifies the entire budgeting process for enrolled clients. By working with a counselor from Credit Card Debt Champions, the consumer gains valuable financial skills which can help them to avoid having a debt crisis again in the future. It is estimated that two millions people in the United States are currently severely in debt with their credit cards. According to the Federal Reserve, the debt load for US consumers as a whole is over $880 billion dollars, so clearly you are not alone in feeling overwhelmed by your debt. If you are seeking a solution to your debt problem which could easily be handled by credit card consolidation with Credit Card Debt Champions, visit their website at: http://creditcarddebtchampions.com Local : 617-401-8399 Toll-Free : 888-257-0117 Address : 101 Federal St # 1900, Boston, MA