This is the phrase the person craves to hear when getting trapped into the drastic hole of debts. There are four ways to settle the problem, still not all people know about them. So here we are going to give a short description of each way, so you can decide which one suits you most.
The talk goes about the government credit card debt relief. The consumers can use it as a reliable and legal way to deal with debts.
The good credit card relief company shall be no less than 5 year on the market and obtain zero unresolved cases. The high rating with BBB is also a nice feature. If you found such a company, do not hesitate to use its services to get out of the debt trap.
A lot of people try not to turn to anyone hoping they will somehow close the debts and get financially free. However it’s usually harder than it looks like, so you can as well end up with the debt higher than it has been.
The good news is that reliable and safe credit card debt relief is available in the United States for consumers. A new site just launched to assist consumers on this subject.
That is why it’s so important to catch up the time and fix the problem while it’s still small. Here are the ways of how to do it.
You can try and go by your own, still for this you do need a strict plan. Access your finances and form a strict list of debts and incomes. Count the monthly expends and see how much money do you have left. Place your cards from the highest to lowest debt. Check out, which one you will close first and center all the free money to it while paying the minimum for the other cards not to make the situation worse.
On this stage you will need really strict budget that will never to be affected by your possible costly habits. It might appear to be harder then you thought.
2) The help of professionals
If you don’t feel yourself disciplined enough to fix the plan for future payments and keep the budget in limits, it will be the best option to turn to qualified managers ready to do that for you. Though they are not able to perform something you can’t do yourself, still a lot of people find their work needful and consider it to be easier way then to stay by their own.
This option dives the significant guarantee of the good outcome in what is about your debts. Moreover the professionals obtain the specific skills needed for easier way to your credit card debt relief.
For example, if your three credit cards add up the amount of 35.000$ with the rate of 12%, it will cost you 875$ monthly and 24 years and 9 months to close the debt. The amount of the interest rate will get you to 57.000$ total, which meant you will be paying almost twice more then you took.
On the other hand with the program of credit card debt relief you will pay only 15.000$ of interest rate to close the debt.
3) Debt consolidation
This way is based on taking the significant loan in order to pay off the debt on several credit cards as a single one. The advantage is that the loan goes usually with lower interest rate, so you will pay less money. It also saves you from the tons of paperwork, since you only have to deal with one single loan, not a bunch of them. The monthly payment is fixed, so everything of really comfortable. The disadvantage is that while the multiple loans are unsecured, this current loan is the secured one, so if you do not pay it off, you might as well lose your house or a car.
The consolidation is suitable in case when you cannot afford paying the credit card debt the way it is now. However you will have much to lose in case you do not afford payments.
4) Debt settlement
This is the last resort and the final step before the bankruptcy. In case you’ve missed up to half a year of payments, and your credit cards might appear to be in hands of collectors, this option is right for you.
In this case the rates are minimal, since the creditors prefer to get less money than to lead you to bankruptcy and to receive nothing at all. The debt settlement is not accessible unless your credit history is all read, and the danger is close. The managers shall believe you are not able to pay off the whole balance, only in this case they will let you use this option.
If you want the professional help for your case, please don’t hesitate to contact us, so we can work out the best option of getting the credit card debt relief. You shall not count on yourself, since you have already spoiled the situation; let the experiences specialists take everything in their hands.