If you are like most Americans, you probably have a sizable credit card debt. I know I used to! After a few months of budgeting I decided I needed some way to pay off the credit cards, the interest alone was around $200 per month! Interest only not total monthly payments. Let's have a quick refresher on Credit Card Payments. Jump to Qualification Form
Your minimum payment on your Credit Card debt is nearly 100% Interest if not entirely. So when you have a Minimum payment every month of $120 on your credit card debt. This is essentially a bill for the credit card allowing you to borrow money. That $120 doesn't actually pay down your debt, just covers the cost of having the debt. To pay down your credit card debt, you will need to give them extra, on top of the $120. The $120 will go towards the "fees" and the rest will pay down some debt. Hopefully each month, the Interest or "Fees" will be slightly less, and if you can keep the same payment, your debt will decrease more rapidly.
Debt consolidation can really jump start your debt reduction. This is done by receiving a Debt Consolidation Loan and paying off all of your Credit Card Debt. You will receive a new monthly payment (which should be lower than all of your credit card payments combined) and as a bonus lower your Interest rate. For example you might have $250 in total Credit Card "Minimum" Payments. Consider the following example:
With a Debt Consolidation Loan you might get a 48 Month Term with a 10.99% interest and a monthly payment of $180.
If you continue to pay the $250 per month, you will be reducing your debt faster by paying down the Loan Principle (Actual Amount Owed) And will be out of debt sooner.
If you struggle with buying more than you can afford, because you have a credit card in your wallet, cut it up, and throw it away. Maybe not actually cancel (I have heard it could be bad for your Credit Score). But whatever you need to do to stop using it. Leave it at home, remove it from your Amazon, Netflix, Hulu, PayPal, and eBay accounts. Only keep it in case of a real emergency.
Well we are happy to say if you are located in any US State except: Vermont, Connecticut, Colorado, Minnesota, and Wisconsin. We can help you out. All you need to do is fill out the form below, to receive personal Debt Counseling and Consolidation.
Or, visit Debt Consolidation Care's Website Debt Consolidation Care