It is hard to imagine a time the world functioned without credit cards. Today, 7 out of 10 American’s have credit debt. Just 60 years ago, no one did. The way we buy products and services has shifted dramatically since the mid 1960s and today’s consumer is paying the price.
If you are one of the 70% of all Americans with credit card debt, you have probably found out too late just how entrapping the debt can become.
With high interest rates, over the limit fees, late payment fees and large balances it will take many of us 20 drp 債務舒緩計劃 or even 40 years to pay off our credit card debt. But some have recently taken advantage of a new offer by debt settlement companies to reduce your debt by 50 percent.
With long term relationships established with all of the major banks, debt settlement companies are able to work directly with the bank to negotiate on your behalf. Leave it to the experts. This is what they do and they do a fantastic job of it.
That’s right; you may be able to reduce debt by 50%, and without ruining your credit. With a greatly reduced debt and restructured minimum payments, you could be debt free in 5 years instead of 40 years!
Credit card interest rates for customers with less than stellar credit can average between 20 and 30 percent. On a $10,000 balance that means that every year you will have to pay $2,000 or $3,000 in interest. It is no wonder it take forever to pay off the debt.
If you have $10,000 or more, you should reduce your debt by 50% at your credit card company so you can enjoy your earnings and stop forking over the majority of it to cover fees and interest on items you may no loner own.