Many Canadians can
only afford to make the minimum payment and once you get caught in that trap,
your monthly statement will tell you your grim future. If the A.P.R. on your
credit card is 18%, you will likely pay back about twice what you owe and
depending on how high the balance, you could be paying for 20 years before the
full debt is paid off. #debtrelief
The profits the
banks make are maddening. The banks love it when you only pay the minimum due.
You are their best friend. But, what happens if you miss a payment? The banks
slap you with their penalty rate of 29.99%. Now, your already difficult minimum
payment just jumped higher and the length of time to pay off this debt just
doubled. And your old best friend? The creditors fight dirty, putting you into
collections and starting the repetitive robo-calls to your house and employer,
or even taking you to court. #getoutofdebt
The truth is, you
can fight back and you have many options. You must choose the one that makes
the most sense for you and your situation. The most common solutions include
paying back your creditors in full, debt settlement, bankruptcy, or debtconsolidation. Paying back your creditors in full may not be feasible if you
are already missing payments and bankruptcy is never the first choice solution
when an alternative exists. At Complete Debt Solutions we focus on debt
settlement. Through a debt settlement, our firm negotiates aggressively with
your creditors to reduce the total amount that you will pay back. Often times,
we can cut your debt in half or more. If you are facing overwhelming credit
card debt, you may be able to find relief through a debt settlement with your
creditors.
A debt settlement is
an agreement between you and your creditors to reduce the amount you owe. When
working with a debt settlement law firm, the payment to your creditors stop.
The banks have zero interest in negotiating a settlement if you continue to make
minimum monthly payments, so instead of paying your high monthly credit card
payments, your money will be placed in an FDIC insured bank account in your
name. You have complete control over this account with the ability to shut it
down if you so choose. Those funds accumulate in that account to fund
settlements. Once Complete Debt Solutions has negotiated a debt settlement with
your creditor, you use the funds available in your savings account to either
fund the settlement in full or make payments under a term settlement
arrangement.
If you are
interested in learning more about debt settlement for your unsecured credit
card debt, contact us for a free consultation to explore your options.
Contact Us > Toll-free : (800) 216-3854 or (855) 773-3365
www.completedebtsolutions.ca Debt Relief
