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.
Second part of the Youtube Original Series – “90 Second Finance” – Stay tuned to the end for exclusive Hank footage!
3 Topics – 90 Seconds Each
Important finance lessons packed into a 90 second explanation! (Plus intro and outro)
Today we are paying OFF credit card debt with three very popular methods!
The three methods explored are
1) Balance Transfer Cards / Debt Consolidation Loans
2) Debt Settlement Companies
3) The Snowball Method
With this being such a deep topic, the only option was to break it down into 3 90 second segments included in this video!
If you have any questions, DO NOT hesitate to comment down below, or look me up on social media.
Credit card debt can feel like a black cloud over your life, like your being strangled by your own wallet! It is a process, it takes a lot of sacrifice, and hard work. But with TIME, and KNOWLEDGE, you too can completely pay off your credit card debt, and move towards a debt free lifestyle – (or at least to move onto those pesky STUDENT LOANS!)
90 Second (It will REALLY be 90 seconds next time I promise!)
Teaching short and sweet financial literacy lessons – and answering wide spread questions in 90 seconds or less!
If you have an idea or request for a 90 Second Finance, or 90 Second Tax video comment down below, or find me on social media!
– Nulo Grain Free – Only the best for Hank! No preservatives, fillers, grains, and the top 3 ingredients are all forms of raw proteins!
(My third ever YouTube video, the grind continues! Still have SO much to learn, but I’m really embracing the process, and I absolutely LOVE it!)
If you’re new on YouTube also comment down below, and let’s talk! Find me on social media, let’s make the YouTube class of 2019 special!
Intro/Outro Music: iPhone Ringtone Trap Remix by Jaydon Lewis
Edited with Filmora 9 (Video coming soon on how to get a lifetime license for $30 dollars cheaper!)
so you're in a pickle you have thousands of dollars of credit card debt from years of shitty spending habits you have only yourself to blame too many $5 cups of coffee tree vacations you couldn't afford and all those premium snapchat channels but if you're not we have a couple of methods to talk about help you start getting out of this credit card that 90-second finance all right so here we go welcome to my bedroom first off I'm sorry about the noise from that fan overhead it's about 9,000 degrees here my balls are hot and I just want to thank anyone who has subscribed so far anyone who's watched any of the first videos I know they've been rough I'm still trying to get a hang for all this stuff but for a thousand times for somebody to take time out of their day to watch one of my videos that is awesome and I appreciate it and I hope that you can take something away you know after these videos you can say well I learned something cuz that's really what I'm going for here trying to give you a little bits of financial literacy in bite-sized pieces in plain English that anyone can understand that's really what I'm going for so anyone who's viewed or subscribed thank you if you haven't subscribed yet go ahead and whack that button there just take a little brush it get that over and done with awesome let's get going okay step one before we get into any of these methods we're gonna go ahead and set up a free Credit Karma account what Credit Karma is it is a online credit tracking and monitoring service that allows you to log on from your phone from a computer at any time and you can see your credit as it's changing this is critical for us moving because a method I'm sure you've all seen and it's really the ideal situation for some balance transfer credit cards or the debt consolidation loan odds are you will not be approved for one of these if you applied if you already have all of your credit cards maxed out odds are your score is already pretty low so but that's not a bad thing because if you were to take out a loan to pay off all of your credit cards right now today with the same spending habits odds are you are going to go ahead and max those credit cards out again and you're gonna with double debt this option is a debt consolidation and balance transfer credit cards that's out option number two debt settlement companies they promise to settle your credit card for pennies on the dollar saving you thousands of dollars in the long run for new credit card companies these companies will absolutely ruin your credit for years what they do is they will instruct you to not pay on any of your debt whatsoever ignore the phone calls ignore the harassing mail and if need be you can direct them towards your debt settlement company and what they will do is when your accounts for all 90 120 or more day delinquent they will attempt to settle with the credit card company for less money than wealth but by that time your credit is screwed that's not disappearing from your credit second they're gonna charge you an assload in fees for their stake in all this no no no no no no all right third method you've probably heard of this one before – ev'ry m-z harps on it all the time no he did not invent this it's been around for a long time and the reason why you constantly hear about it is because it works this is the debt snowball method the death snowball method we're gonna take all of our debts we're gonna list them pull them off Credit Karma with the balance the minimum payment the date and the name of the creditor you're going to line them up on a sheet and then you're gonna sort them from smallest balance two largest balance we aren't worried about interest rates here so once we have them lined up smallest to largest and we start paying off our debt we're gonna make minimum payments on all of them and any extra money that is allocated to us paying off debt we're gonna go from smallest to largest so we have this credit card here with 150 dollar balance as soon as we have any extra money at all we're gonna pay that off the next we move on to our socratic card number four it's a $400 balance we're gonna get that paid off and then you might just well the personal loan at a four dollar balance to would and we pay that one little first we didn't pay that one off first because typically personal loans damn it Hank because typically personal loans have a much lower interest rate than credit cards so if you have two equivalent balances on two different items pay off the one with the larger interest rate first you'll save a lot of money that way also as you go with the debt snowball you will notice that as you start winning these little victories you're chipping down on one or more of these balances getting them paid off it's instant gratification you have one of these paid off you're gonna feel like you can conquer the world you know what we can do this and pay off your smallest one first then on to the next so on and so forth and before you know it you're gonna be debt free as soon as you start realizing that you're making progress you're gonna start finding ways to put extra money towards it and those spending habits again those spending apps that got you in trouble in the first place you will learn the lesson the hard way you don't have to grind your way out of this that's the best way take advantage of the learning lesson you know what you did the got you here you know what it took for you to get out of this keep that in mind so these three methods here are the Deaf snowballs by far your best options that's what you need to start working on right now so we're not gonna talk about budgets in this video but rent yourself out of budget I'll do a video on that here coming up shortly see what extra money you have or where extra money can be created out of your budget to put towards your debt we're gonna go from smallest debt it's the largest debt in order paying one off you're gonna see your credit cards plus your credits were climbing as you go up and you're gonna learn lessons about credit card debt and spending you're gonna be a lot more hesitant the next time around frivolous spending and treating your debt your credit card like it's cash you realize serious it's good and I'm really putting me in a hole lesson learned debt snowball is definitely the way to go it will get you where you need to be the biggest determining factor in all this is how much money you have to put towards it if you say zero you're missing something in your budget there's an others overspending somewhere that you can knock out to free up some cash moreso than that I'm going to do an entire series on on-demand income and how important the ability to just make extra cash that's outside of your budget on demand is to your finance life so that snowball Rose your money at these things just chip out it get rid of them we will talk about the auto loans the personal loans and the student loans coming up soon thanks for watching 92nd finance this is on credit card debt I appreciate you watching don't forget to hit the subscribe button the like button the share button hit all the buttons say something nice say something mean subscribe so you can say something mean again on the next video I really appreciate that and stay tuned for next time subscribe mother