Debt Settlement Cost

Today’s consumer’s largest problem is their unsecured credit card debt. This debt can be reduced by considering a debt settlement program. The consumer might consider this program because they want to paid off their credit cards but have been struggling because of possible job loss or reduced salary or a medical emergency.

The consumer is asking themselves how can get out from this burden. If we take a quick review of what it is costing the consumer on their unsecured credit cards. For example:

· Credit Card debt of $30,000
· 3 years of interest at 19% is $17,100
· 5 years of interest at 19% is $28,500

The above interest figures do not calculate any principal reduction on the $30,000 outstanding. So you can see that you are not making any headway on reducing your debt only adding to your financial situation.

If you have faced a financial hardship, then consider using the debt settlement method. Under a debt settlement program, a third party will negotiate with the lenders to reduce you debt possible up 50%. This would mean you would cut your outstanding balances in half and would save up to $17,100 or $28,500 over the next three to five years.

Here is an example of a possible monthly program:

Credit card debt reduced from $30,000 to $15,000
Minimum monthly payments of $700.00 for 24 months*
Minimum monthly payments of $500.00 for 36 months*
*This figures are an estimate only

So isn’t time do something about your financial situation. Debt settlement may not be the right program for everyone. However as a consumer, you need to call an expert today to discuss a program that is right for you and your family.