Drowning In Debt?
Posted on 03/14/2019
Don’t you wish you could go back in time & crush your younger self’s wishes of wanting to grow up? Adulting can be a traumatizing experience. Even more so when carrying a large debt amount. Gone are the days of turning 18, receiving your first credit card, & swiping that plastic gold mine with no remorse or regard of how this would affect your future self. If you’re struggling with your debt, want to reduce your monthly payment and want to resolve your debt within 24-48 months, then debt settlement may be the right solution for you.
Having trouble deciding whether or not it’s time to do something about your debt? We’ve put together a list that may help you make up your mind. If more than one apply, it may definitely be time:
You don’t have any savings.
55 Million Americans don’t have emergency savings.
You lose sleep thinking about your debt.Not getting enough sleep, or getting poor-quality sleep, increases the risk of high blood pressure, heart disease, obesity, and diabetes.
You make minimum payments on your credit cards.When you make only the minimum payment on your credit card, you're giving yourself temporary relief. But you're also committing to paying more in interest charges later.
Your debt is putting an added stress on your relationship.Finances are the leading cause of stress in a relationship and takes a particularly hard toll on a marriage.
You’re at or near your credit limit on your credit cards.A good credit card balance is less than 30% of your credit limit. 55% of credit card users don't always pay in full.
After you pay your credit card bill, you increase your balance by the same amount (or more) the following month.
Leaving a balance will not help your credit scores. With the added interest, the balance will continue to grow & accumulate.
You get calls from debt collectors.
The debt collector may file a lawsuit against you if you ignore the calls and letters.If you then ignore the lawsuit, this could lead to a judgment and the collection agency may be able to garnish your wages or go after the funds in your bank account.
You’re afraid to look at your statements each month.
Debt and stress are like conjoined twins. Stress may be hard to define, but it manifests itself in obvious ways – lack of sleep, loss of focus, nagging worry.