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Reducing credit card debt is not always an easy feat for consumers today. Credit card are essentially designed to have "low" monthly payments. Convenient right? Sure its convenient but when your interest rate is nearing 20% or higher, you are looking at 80% of your payment going directly to interest and finance charges. Many consumers simply do not know this and are ok with making payments toward a balance that never goes down because they want to use that money to buy other things. This convenience is what keeps people in debt and the banks wind up making 4 times the original balance before it is ever paid off.
Fortunately negotiations have been created where the banks are willing to drop their interest rates low enough so that if you can demonstrate you can make timely payments, your term can be reduced and you can pay that debt off without harming yoru credit.
This can easily be accomplished through a debt management plan. Debt Management plans are simply consumer credit counseling programs. You may one monthly payment where your money is distributed to your creditors. You continue to receive statements from your creditors as the payments are being applied so you can track it. Consumer credit counseling is the exact same program of going over your expenses and income to determine how you can begin to resolve getting out of debt. If you are considering bankruptcy, you are required to under go credit counseling prior to filing.
The Debt Management Guys and girls are happy to provide a free consultation to determine if you need to enroll in a debt management plan. Many times we will tell you to simply work on budgeting better and send you on your way. Debt management plans are not for everyone, and sometimes debt settlement is a smarter alternative if you are already behind on your payments. The key to managing your debt is having a plan and sticking to it. Setting aside an emergency fund of $1000 is critical to anticipate unexpected events.
Our Debt Solution is our ultimate goal to help you get on the right track to financial freedom. With pre-negotiated interest rates as low as 5.9% depending upon the bank, we can help. Our debt management for credit card (s) is the exact way to help you get out of debt.
Do you bank with any of these creditors? Look what we can get your interest rate down to:
It doesnt' matter how you got into debt. We can help you eliminate your debt in a time frame that works for you. Our Debt Management Program can help you do exactly that. For a no cost, no obligation quote on your financial situation, contact us now.
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