eliminating credit card debt legally, is there a way?

i hear radio commercials about: if u have more than $10,000.00 in credit card debt, that u can legally eliminate them, is this possible, and how?

Public Comments

1. You can eliminate these debts by going bankrupt. Good luck.
2. This is most likely for debt settlement. These firms deliberately allow your accounts to default to negotiate 50% settlements. This is a risky move and not all creditors will play this game...their response might be to serve you papers and take you to court.
3. Do not fall for the ads, but if you can call and try to reduce the debt yourself. Ask for a lower rate or try to tell them you will pay them xx amount of dollars. Listen to Dave Ramsey.
4. Yes, you can legally eliminate your credit card debt by paying your bills. For some that is too radical to accept. Make no mistake, they aren't going to forgive thousands of dollars of debt for nothing. They are going to expect you to accept an expanded payment plan or declare bankruptcy else they will see you in court. The ads are correct, there are legal ways to get out of debt, but there are no guarantees that it will be easy, or cheap, or come without some kind of penalty. There is no magic wand that will make debt go away.
5. Those commercials are probably debt settlement companies. Most are complete scams. Best case, they allow all your accounts to go 90 days past due. Then offer lowball setttlements under threat you will file bankruptcy. Not only will this trash your credit, most credit cards refuse to play and will immediately sue you. The settlement company won't helping with the lawsuit. Worst case, they just take your money and do absolutely nothing. In a few months the phones will be disconnected.
6. Ask lenders for agreement to delete this items from your credit report when paying them. I recommend to get such agreement thru credit repair agency, for example this one - freecreditreport.hotusa.org