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A Credit Card Settlement is a sign that you are unable to manage your debts effectively and easily. You may suffer a negative impact on your CIBIL score, which further reduces the chances of you getting a loan in the near future. The use of credit cards is a valuable financial asset that should be treated with financial discipline at all times. In the event that you fail to do so, you may suffer adverse consequences. You may always rely on a debt relief firm when you find yourself in these debt trap scenarios.

In credit card settlement, you propose to pay back half of your debt in one lump sum to your creditor, and the creditor accepts your proposal. There might be multiple reasons for doing so, including financial emergencies and budget constraints. However, credit card debt settlement is extremely rare, and credit card issuers discourage debtors from using it.

The Debt Management Services company specializes in credit management for corporations and homeowners associations. Today, let us look at a few misconceptions and judgments of Freed and any confusion around debt settlement to make your journey toward freedom easier.

Freed is India's first Debt Relief Platform, and the best Loan Settlement Agency helping consumers resolve their outstanding loans and be debt free.