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By: Steve Harris

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Tuesday, 15-Nov-2011 22:29 Email | Share | | Bookmark
Do You Need Help Paying Off Debt?



Do You Need Help Paying Off Debt? Debt Elimination Programs Can Help
Do you have trouble managing your credit card debt month to month? Does it feel like paying off debt is an impossible task that no matter what you do or try you never get any closer to achieving? If you do, you are not alone. Far too many households need help with debt badly, and feel like there isn’t much they can do about it.

There are options out there though for people who need help with debt, and because so many people do need help a lot of companies have started up that specialize in debt management solutions for people who need help with debt.

When a consumer enrolls in a debt management program, the debt management company will close the customer’s accounts and restrict the account to future charges. Most commonly, you may have heard of these advertised as debt consolidation services. The debt management company will consolidate debt from multiple statements into one monthly payment. This payment will generally be less than the sum of the multiple payments a consumer was previously paying. Banks are more likely to accept a lower monthly payment from a customer working with a debt management company than if the customer was trying to negotiate on their own. Many times, the advertisements will say that getting debt reduction help from a debt management company can lower payments by 50%, but realistically you can expect a reduction of 10-20% in your monthly payments.

By using a debt management program to get help with debt, you can also see your interest rates be reduced to make paying off debt easier. Typical results seen from debt management companies are a 5-10% reduction in interest rates. This can go a long way if you are serious about paying off debt, since with that will give you significant help with debt, allowing you to become debt free in 3 to 6 years instead of the nearly 20 years it could take to pay off debt at an extremely high interest rate.

Another solution exists, however, if you are looking to clear debt once and for all and begin living your life debt free. Debt elimination programs can eliminate card debt overnight so you never have to make another payment again. Debt elimination is not like a debt management plan. It is not debt consolidation or debt management. It is not a debt settlement that can damage your credit rating and still leave you open to being sued by credit card companies. Debt elimination is just that: elimination. If you need are in over your head and feel like you will never be able to pay off credit card debt, you should consider a debt elimination program to help you eliminate credit card debt.

If you need to eliminate your debt and not simply manage it, consider debt elimination as the viable and legal choice. Visit credit card debt management for more info, or call 561-282-9476 for more information.


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