Late or Missed Credit Card Payments? You May Need Debt Consolidation
You know the feeling. It starts with a little oversight or when things are just a little tight one month. You miss a credit card payment or are just a little late. Immediately, the credit card dings you with a fee that is probably more than the minimum payment anyway. Maybe you have multiple credit card accounts, all with a different due date, interest rates, and payment amounts. Your calendar is covered up with notes on when to send what to whom. If this sounds like your situation, it may be time for you to consider debt consolidation.
Debt Consolidation and Negotiation Company Services
Legitimate debt consolidation companies provide the beneficial service of helping you find a way to assemble your debts so that you can get get back on track. This puts all the accounts together with one monthly payment. As a client in a program , you will be making a monthly payment into an FDIC insured “Special Purpose Account” and you will use this account to accumulate the funds that will eventually be used to pay off the creditors. As the money in the account builds, qualified and professional Debt Negotiators will use those funds to negotiate and settle each debt one by one.
Settlements typically range from 30% to 70% of the outstanding balance and the average settlement is about 50% of the debt at the time of enrollment.
Benefits of Debt Consolidation
It’s much more convenient and easy to remember, but the benefits don’t stop there. Debt consolidation programs can negotiate better interest rates and sometimes have fees eliminated or reduced. This means actually making progress on reducing the debt instead of simply mailing off another minimum payment that does little more than pay the interest accumulated that month, starting the cycle all over again. Furthermore, in most cases, the monthly payment for the debt consolidation may actually be less than the sum total of all the separate payments you were making before. So, not only are you making real progress toward being debt-free, but you are also having more money back in your financial picture each month to use for more important things. You could even save some money for a change, leading to a much healthier financial future.
Consolidating debt means taking meaningful steps toward credit relief by giving yourself a plan and a system that you can abide by that is making true progress. You no longer are on the hamster wheel of revolving credit card debt because all you owe is one steady amount. You know what the payment is, and you know how long you have to pay it. Additionally, it allows you to close those accounts, preventing you from getting suckered into “running up” those balances up again.
With only one account to monitor, those pesky late fees will soon be a thing of the past, and you will stop seeing your hard-earned dollars going into credit card companies’ pockets for nothing in return.
Debt Consolidation Saves Time and Money
Once debt starts to spiral out of control, it can really affect your entire financial future. All of a sudden those multiple open accounts and late payment credit entries can threaten your ability to purchase a vehicle, buy a house, or even get a job. Don’t let credit card debt control your life and determine what you have to do with your money. Look to debt consolidation as a way to get your feet and your finances headed in the right direction and toward true debt freedom. Every minimum payment being dished out is just more money wasted when it could be invested in moving forward.
Don’t waste any more time or money.
Call now to speak with someone who can help you find a debt consolidation program that will work for you. Life is too short to spend it climbing a mountain of debt. A debt counselor can analyze your situation and help you determine how to get back on the right path.