Reduce Your Debt
If you have $5,000 - $10,000 in Credit card balances, you can save thousands using this simple method. Have you ever wondered how you can ever get out from under all that debt? If so you are not alone! The average American household has over $5000 in credit card debt and many cards charge 18% - 21% per year in finances charges.
Did you know if you owe $5860 at 18% interest you will end up paying over $1,000 in interest in just one year? That means if you pay the minimum balance you are just paying the interest and you will NEVER get out from under all that debt. Worrying about all that debt has to be stressful. But if I could let you in on a little secret how you can sneak out from under that load of debt to a life of less worry about those bills would you be interested? Of course you would, who wouldn't?
If the first $1000 you pay just covers the interest and doesn't even make a dent in the principal, the key is to bypass the interest. At first you might be thinking, that is impossible" the banks won't allow it. But that isn't true. Your current bank won't let you just stop paying interest but that doesn't mean another bank won't. You see... banks are fighting with each other to see who can grab the most of those $1000/yr. income streams.
Put yourself in their place for a moment. What would you do to guarantee that someone would pay you $1000 per year for life? Would you be willing to give them the first year free? That's exactly what banks are doing! They figure that once they have you it is a gravy train for them for years and years to come. So why not offer 0% interest for the first year?
So what we need to do is figure a way to beat them at their own game. If you pay the balance in full every month you get to use the bank's money for a month with no interest charges. Not bad free money. However, once you rack up a huge balance it isn't possible to do that. So... that is why banks make it so easy to get the money. They want you to be in debt. So many banks offer 0% "Introductory Rate" which usually lasts for 12 months. This is to give you time to rack up a big bill that you can't pay off.
Looking for a reputable Debt Settlement / Relief Company is one of your options; once you select the plan and term in which you will pay off your debt, if you stay on plan you will find yourself debt free in a fraction of the time and paying minimum or no interest.