Too Much Debt
Do you know anyone who is struggling with too much debt? If you do, I know something you should tell them TODAY. Unsecured debt can be significantly reduced and the balance can be paid off at ZERO percent interest. For example, if your friend were to owe $100,000.00 in credit card debt…and many people do, they could have that debt reduced to $40,000.00 and make arrangements to pay that balance off at ZERO percent interest.
Is it better to pay $100,000.00 at 30% interest, or $40,000.00 at 0%? I suppose it depends on the ability to pay. If your friend can carry the debt load at normal bank rates and pay the 30% off quickly enough, they’ll be fine. Most people discover that $100,000.00 (or perhaps even more) at 30% interest rates will take a very long time to pay off. I know. They signed on the dotted line. They promised to pay back the borrowed money. Things just didn’t work out that way so far. The credit line has dwindled. The resources to just cover the interest grew and grew. Maybe they missed a payment. When someone misses a payment the friendly bank commonly jacks up the interest rate on the entire credit balance. They also reduce the remaining credit line to “reduce their losses” it seems. When the credit line is reduced and the interest rate jumps up to 30% or even more in some cases, your friend will be buried by the bank. Not exactly a friendly banker picture, right?
Fortunately, the United States does not treat debt as a crime. We really do have options. The credit card company might offer a reduced interest rate and lower payments while you get back on your feet. Keep in mind that this is after you’ve been run through the ringer. They’ve already made several annoying phone calls and told you to pay (the call frequency can reach several calls in a five minute period). It’s amazing sometimes how much the bank is willing to work with someone to keep them buried in credit card debt for a very long time….after they’ve jacked up the rates and cut off the credit line.
The best options for credit card debt ARE NOT the ones the credit card companies are offering to people with too much debt (SURPRISE!). The best opportunity is NOT credit counseling. It’s NOT bankruptcy in most cases. Credit card debt can be handled much better using debt resolution.
Bankruptcy NO – Debt Resolution YES
Debt resolution is the process of negotiating with the bank to reduce the credit card debt. It also removes many of the blemishes from the credit report. You and your friend can take advantage of a clean slate much more quickly when the balance remaining is paid off at 0% interest. Every nickel that is paid toward the debt is actually going toward the debt, not the banks interest…at 30%.
BAILOUT FOR WHOM?
The banks got their bailout. Most of them are swimming in money provided by government bailouts. Debt resolution is one way that YOU and your friend can be bailed out.
Imagine having NO credit card debt. The freedom of being debt free can be yours much sooner than you thought possible.
Sign Up Today
There are several things I’m asking you to do. Sign up for debt resolution by clicking here. If you need it, you can sign up for credit repair by clicking here. Our legal team will assist you or your friend to have much less debt and a significant improvement in the credit score.
It’s very easy to get started. It does have a cost, but the cost is significantly less than paying off that credit card debt at 30%.
Real Estate Tip:
Be debt free as soon as possible. Sign up for debt resolution. You might not need debt resolution, but you can sign up for credit repair to make serious improvements to your credit score. Tell your friends to sign up TODAY. Those heavy debt burdens can be significantly reduced more quickly than you thought possible.
