Credit Card Debt
Credit card debt is a dangerous epidemic. Did you know the average American family has more than $8000.00 in credit card debt? Credit card debt is a rapidly growing problem as Credit card companies make it easier and easier for consumers to obtain cards and spend money. Creditors offer enticing interest rates to join or to transfer balances from an existing creditor or credit card. Credit card companies earn in excess of $65 billion a year and nearly one third comes from late fees and over the limit charges. Do you think these creditors have any incentive to help you credit card debt? Why would any creditor want to offer you credit card debt help? Remember, if you are not paying an interest rate or late fees, a creditor is not earning money from you. A creditor or bank earns fees by loaning people money and charging them at a high interest rate.
When you transfer credit card debt from one creditor to another, you should cancel the first card. If not, you may run up that balance as well. Resist the temptation to purchase everyday items like gas or lunch with your credit cards as this can lead to serious credit card debt problems, particularly when you have a very high interest rate. If you make only the minimum payments each month, you are mainly paying interest only and little or no money is be applied toward your principle to eliminate credit card debt. If this sounds familiar, you need credit card debt help.
There are some things you can do on your own to manage your credit card debt. For example, there is software that tracks your financial records such as Quicken, by Intuit, or Microsoft's Managing Your Money. These programs provide credit card debt help by organizing your bills and even writing checks. Also, if you have a financial hardship, contact each creditor and tell them you need your interest rate lowered. This will not reduce your credit card debt but it will lower your monthly payments. The extra savings could be used to eliminate credit card debt from other creditors. You can also play one creditor off another. Tell one that another offered you a better interest rate in an effort to help you reduce credit card debt due to a financial hardship. Often, the second creditor will beat the interest rate offered by the second creditor.
Another option you may want to explore is Debt Settlement. A debt settlement company negotiates with a creditor on your behalf to eliminate credit card debt. Many people fall behind on payments due to a hardship like divorce, layoff, illness, or pay reduction. Credit card debt help is possible, thanks to our debt settlement program. We can reduce credit card debt by 40-60% by negotiating a settlement with your creditor. Unlike Credit Counseling program or just an interest rate reduction, we can reduce the entire balance. If you need credit card debt help, this is the quickest way to eliminate debt outside of filing Bankruptcy. Visit our Debt Calculator where you can calculate how long it will take you to pay off your credit card debt to your creditor if you continue to make minimum payments at your current interest rate (otherwise known as the "Credit Treadmill"). Did you know that you cannot ever reduce credit card debt if you are paying the minimum and your interest rate is 24% or higher? It is physically impossible. You cannot eliminate credit card debt if you are simply making minimum payments, month after month to your creditor
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Debt Center USA
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Credit Card Debt Bringing You Down?
If you are paying just the minimums each month (known as the "Credit Treadmill"), behind on payments, or stopped paying altogether, then you need a plan to get immediate help and fix your financial situation for the future. ==> Click Here to learn about Debt Settlement
Instead of the "Do Nothing" approach, TAKE ACTION TODAY!
Many Americans are in a rut with their "Do Nothing" approach to credit card debt. They pay the minimums on all their bills each month on time or as best they can. At typical interest rates, it would take 41 years and cost over $49,000 to eliminate $20,000 of credit card debt owed now with that approach! That's why it's called the "Credit Treadmill."
Take action now and get a plan to fix your financial situation. ==> Click Here to learn about how through Debt Settlement, you can possibly wipe out the same $20,000 in credit card debt in just 3 years for a total cost of about $11,000-$13,000 with equal or lower monthly payments than those minimum add up to each month!
Debt Center USA
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Stuck on the "Credit Treadmill" ?
...don't take the "Do Nothing" approach.