Tag Archives: Debt Relief

Finance Solutions | Credit Card Modification Programs Explained

**Finance Solutions | Credit Card Modification Programs Explained**



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Reduce your debt in a qualified Credit Card Modification Program. Licensed attorneys and skilled debt negotiators will work on your behalf to negotiate a reduction of the amounts you owe and help you get back on the path to financial freedom.
Many Americans today are struggling to keep up with their monthly credit card payments. They're falling behind or they struggle just to make their minimum payments, and they just don't see their credit card balances going down. In this tough economy, Americans have taken almost 1 trillion dollars in credit card debt, but few realize the true cost of that debt. Here's an example. Just making the monthly minimum payments on your credit card debt, with a balance of forty thousand dollars, and an average interest rate of just 15.9 percent, you will pay over 84,000 four hundred dollars in interest, and it will take you 31 years to pay off the balance. That's just crazy! But, there is a solution. In a qualified Credit Card Modification Program you are represented by an attorney who oversees a team of skilled strategist and professional dead negotiators who will develop a plan to provide you with immediate relief from high monthly payments. Your attorney will assist you if creditors or debt collectors engage in illegal collection practices, and they can defend you in the unlikely event of litigation. In the short-term, this strategy may help to restore some financial stability in your life, while a team of professionals works to reduce the amount of your debt in the long run. However, you may accrue additional fees and interest, which will increase the amount you owe in the short run. However, any such accrued fees, penalties, or interest are negotiated and resolved, along with the principal amount of your debt, at no additional cost to you. Once you're enrolled in the program, we'll help you set up a special purpose savings account with an FDIC-Insured National Bank. This account is owned and controlled by you, and you'll have access to it 24-7. We can't touch it without your approval. You'll use this account to build up savings that will be used to pay your creditors from the negotiator reaches an agreement on one of your accounts. The program is simple. We'll help you build a budget and determine a manageable monthly payment that is considerably lower than what you are currently paying in monthly payments on your credit cards. This will likely adversely affect your creditworthiness. Each month, that amount will be transferred to your special purpose savings account on the day you choose. You'll no longer be making your monthly payment to your creditors. These funds will grow each month while strategists and debt negotiators, working under the supervision of an attorney, work directly with your creditors to resolve your accounts for the lowest possible amount. Bear in mind paying less than you own your debts may result in taxable income to you. When an agreement is reached with one of your creditors, we will provide you with a written offer with the terms and conditions of the agreement. Then, with your approval, funds will be securely dispersed from your special purpose savings account in accordance with the modified repayment terms. Each secure payment is tracked with a unique transaction number to ensure it is properly credited and fully documented. Some of the benefits you will receive by working with a national law firm to represent your interests are: licensed experienced attorneys that will oversee the negotiating process. Performance standards to which they must adhere. A face-to-face meeting to begin the relationship and provide you with added confidence that you are in the right hands. Your actual results will depend on factors outside our control, including you making consistent payments to your savings account in the agreed upon amount. There was no interest, no prepayment penalty, and our attorneys must meet minimum performance standards to ensure a significant savings on all you're enrolled accounts. So if you are tired of struggling to pay your high-interest credit card debt each month, or you just aren't making progress reducing your balances, you should carefully consider the benefits of a Credit Card Modification Program. Although you will be required to close all the credit cards you enroll, you'll get relief from high monthly payments and make one single manageable payment each month. That means you'll have the peace of mind knowing you are on the road to resolving your enrolled debts. So stop struggling with high interest credit card debt, and start making progress toward reducing the debt that is keeping you from living a more meaningful, stress-free life.

Why are half my monthly credit card payments going towards interest charges?

**Why are half my monthly credit card payments going towards interest charges?**



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Q. Why are half my monthly credit card payments going towards interest?

A. If this is the case it’s because you’ve been carrying balances forward and making only your minimum payments. As a result you’ve fallen victim to the power of compound interest.

The simple explanation of this is that the card issuer has added its interest charges to your principal (which is the amount you originally borrowed) so that your debt grows exponentially.

Here’s a simple example of how this works with simple annual interest.

If you owe $100 on a credit card at 10% interest you’ll be charged $10 the first year or 10% of the $100. With compound interest that $10 will be added to your original debt so that you now owe $110.

The next year you will again be charged $10 interest so that this now comes out to be $11 (110 x 0.10) so you now owe $121.

But your credit card companies don’t charge simple interest; they charge daily compounded interest – if you don’t pay off your balances in full each month you’ll soon be paying interest on your interest charges. And after a few years you’ll end up paying 2 times, 3 times, even 4 times or more what you originally borrowed thanks to compound interest.

See how quickly things add up?

This is why people that have multiple credit card debts end up turning to debt consolidation, debt relief programs or even bankruptcy.

There is a good reason for this. When you consolidate debts – whether through a debt consolidation loan, consumer credit counseling or debt settlement – you would have just one payment a month in place of the multiple payments you’ve been juggling.

In addition, your one payment should be for less than the sum of the payments you’ve been making.

If you’re drowning in credit card debt and high interest charges, visit to learn how to reduce your credit card debt without bankruptcy.
why are half my monthly credit card payments going towards interest if this is the case it's because you've been carrying balances forward and making only your minimum payments as a result you've fallen victim to the power of compound interest the simple explanation of this is that the card issuer has added its interest charges to your principal which is the amount you originally borrowed so that your debt grows exponentially here's a simple example of how this works with simple annual interest if you owe a hundred dollars on a credit card at ten percent interest you'll be charged ten dollars the first year or ten percent of the 100 with compound interest that ten dollars will be added to your original debt so that now you owe 110 dollars the next year you will again be charged 10 percent interest so that this now comes out to be

Can I Pay My Credit Card With Another Credit Card?

**Can I Pay My Credit Card With Another Credit Card?**



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Can you pay off your credit card with another one? Ask our top financial expert anything you want about the financial tips you need to succeed financially.

Credit Card Debt Explained With a Glass of Water

**Credit Card Debt Explained With a Glass of Water**



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uses a pitcher and a glass of water demonstrate the effects of minimum credit card payments. This video uses a simple analogy to …

National Debt Relief - #1 Credit Card Debt Company - BBB Accredited Business

**National Debt Relief – #1 Credit Card Debt Company – BBB Accredited Business**



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Are you sick and tired of living paycheck to paycheck?

Have you lost all hope of ever being debt free?

It’s time to stop struggling and start getting relief with National Debt Relief.

National Debt Relief is Better Business Bureau accredited and rated the #1 debt consolidation company on independent consumer review sites. National Debt Relief has 100s of positive reviews and thousands of satisfied customers.

We offer a plan with one low monthly payment and no upfront fees. In fact, you don’t pay us a penny until we resolve your debt.

Call us now at 1-888-731-6010 to see how much you can save and end your struggles. Call 1-888-731-6010 now.
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