Have you noticed that most of your money seems to be going to credit card interest and the needle never seems to move in the right direction on your balance due? Do you envision yourself stuck in an endless cycle of making minimum payments and gritting your teeth with each bill that comes? You might hate the thought of it, but have you considered that filing for bankruptcy may be your only way out?
If debt is starting to take control of your life and taking a toll mentally, physically, and emotionally, you don't have to stay in that cycle, and you don’t have to file for bankruptcy. You can learn about another option that will bring you credit card relief – an option that is not as drastic as bankruptcy but is effective at helping you break free from credit card debt.
You are in the right place to find out the answers to those questions asked above. Here's what you will discover as you read on:
Contrary to what many people believe, you do not have to wait until you have "hit rock bottom" financially before finding credit card debt relief. In fact, if you are beginning to recognize that your credit card debt is problematic, it is better to be proactive than to wait to get help.
Consider these telltale signs of debt trouble:
There are a lot of reasons people go into credit card debt. Going into debt is not necessarily a sign of financial irresponsibility, so if you find yourself in credit card trouble, it should not be a source of personal shame or stigma.
The leading causes of credit card debt are:
Inflation and the cost of living: Americans may be earning more than they used to but inflation and a higher cost of living are outpacing that bump in pay for many of us. After crunching the numbers, Investopedia noted: "While the average person is still making the same amount of money when accounting for inflation, prices for many of the daily necessities have gone up considerably, which means that each dollar earned does, in fact, buy less than it did 20 years ago." To make up the difference, many turn to credit cards to buy necessities.
(Source: Pew Research Center)
Creditors are often willing to make considerable concessions through debt settlement. This way, they can recover money from debtors they could not get back otherwise.
How much can you save with debt settlement? To illustrate, consider Dan's story.*
Dan works hard every day and has always been conscientious about paying his bills on time.
Unfortunately, Dan had an accident last year and the medical bills mounted up quickly. Dan paid his medical bills with a credit card, expecting to use money from an insurance settlement to pay the card off before it became a problem.
The settlement did not come through, and now Dan is struggling to pay the minimum payment each month on a credit card with a balance of $26,000 and an interest rate of 18%.
*”Dan” is an example of a typical ClearOne client, whose experience is a combination of the thousands of clients who are in the ClearOne program.
This is just one example, but it reflects the overall reality of debt settlement. According to the American Fair Credit Council:
The American Fair Credit Council states that 76% of those who enroll in a debt settlement program settle at least one account in the first 36 months of the plan, and 54% settle more than half of their debts in 36 months. The average debt settlement enrollee settles around 51% of his/her debt in the first 36 months.
How quickly you can resolve your debt depends on your income and the amount of money you can allocate to debt settlement. It also depends on the size of your debts and the deals your debt settlement firm can secure for you. Complete debt settlement should not take longer than four to five years.
Yes, you can, but that doesn't mean it's the best idea. If you are an expert negotiator with knowledge of how debt settlement works and loads of time and patience, you can contact your creditors directly, one-by-one, and obtain written agreements covering all the legal terms of your settlement deal. Or you can work with a trusted debt settlement company like ClearOne Advantage and let it do all the work on your behalf.
A debt settlement company has more clout than an individual debtor, not to mention more experience, so they can negotiate from a better position than individual debtors.
Your debt settlement company should have a good reputation and offer a 100% satisfaction guarantee.
Look for an A+ rating with the Better Business Bureau and positive client feedback on the services debt settlement companies offer. Make sure that you opt for the services of an entity that has helped thousands of customers already.
Contact the debt settlement company and after your initial conversation, ask yourself these questions.
By partnering with ClearOne Advantage, you secure the services of a dedicated team of professionals whose goal is to negotiate the best possible deal on your behalf.
I wish to thank you for all of your agency support and encouragement. The last two months have been very stressful due to the accounts going legal. It has been also very rewarding to get through this process and have a good grip on our future and we have started this planning and example for our children.