When in debt, the light at the end of the tunnel doesn’t seem like it will be remotely visible ever again. Many struggle each month to make even the minimum payments on their credit card debts, and then wonder how they managed to end up in this situation. There are more than just negative financial effects that stem from credit card debt; there is also the added effect of stress, worry and even marital problems.
Many people who have so much debt that they can barely keep up have a difficult time managing their stress in addition to their money. When credit card debt has a person feeling like everything is hopeless and there is no end in sight, there is something we can do. Learning how to fix your debt problems can help you to pay off your debts and get yourself started on the path to financial freedom, years ahead of schedule.
Can Debt Consolidation Fix Your Debt Problems?
Those who have debt should consider debt consolidation. The problem with credit card debt is that many often cannot afford more than the minimum payment, which means that the balance they are carrying is accumulating interest each month; the minimum payment covers just more than the interest that continues to accrue, meaning it will take years and thousands of extra dollars to pay off debt. These minimum payments add up to a significant amount of a person’s income each month and what they are paying is mostly interest, meaning it will take years longer to pay off their debt. Debt consolidation is a faster way of learning how to fix your debt problems.
Debt consolidation through settlement is different than a debt consolidation loan, which we do not believe is the best debt relief solution. A debt consolidation loan will not pay off your debt, merely providing you with one large debt rather than several smaller ones. Debt consolidation through settlement is the act of negotiating with your credit card companies to lower the amount of money you owe them. For example, as a debt consolidation company, we have the ability to negotiate your $10,000+ credit card debt to one creditor down to a much lower amount, saving you thousands in debt. Learning how to fix your debt problems through consolidation with settlement with us is easy.
Have Professionals Negotiate Down Your Debts
By contacting us, you will provide our debt professionals with your financial information; this includes your credit card companies and the amount you owe. Our debt professionals will then negotiate with your creditors to lower your debt for a different amount. You will not have to worry about high interest charges or late fees anymore. You can save about 50% on average on your unsecured debts. Additionally, you will not be able to use your credit cards anymore. Your creditors will not allow you to continue to use your credit cards once you have agreed to a settlement.
You will make one monthly payment to our debt consolidation company, which will be used to settle amongst your creditors. You will no longer have to worry about paying interest, and the amount of your monthly payment to all your creditors will be much lower than the amounts you were paying when you made multiple payments to several credit card companies while still paying interest.
You are free, from that point, to allot the additional money you used to spend making your individual minimum payments each month to go toward paying off your settled debts even faster, or you can keep it in your pocket. However, if you have the extra funds, it is always a good idea to use them to pay off your debt rather than to spend them on other things that you do not need.
A Debt Consolidation Loan May Not Fix Your Credit Card Debt Problems
Something else that makes debt consolidation through settlement a good idea for many people is that it does not use a debt consolidation loan. A loan requires a good enough credit score to get a loan, this does not. If your credit is destroyed because of your debts, you can still work with our debt consolidation company to settle your debts and pay them off faster and for far less money than you would have paid to your creditors without our settlement negotiations.
To find out more about how you can fix your debt problems and get on the road to financial freedom faster than you thought possible, give us a call now to speak with a professional debt consultant. Our professional debt consultants can help you by answering all your questions and helping you decide whether or not debt consolidation through settlement is right for you. Additionally, you can fill out our form to help you get started learning about the debt consolidation process as soon as possible.