Is Debt Settlement The Answer?

Keeping up with the Jones' has caused many Americans to lose sight of the potential pitfalls and burdens that are caused from having too much debt. Over the past 25 years, total debt has doubled as a percentage of disposable income. Up until the early 80's, America has had the distinctive advantage of continuous, steady increased income decade over decade. However, with the advent of the internet; economic globalization; and corporate profits, Americans' income finally stopped increasing. Keeping up with the Jones' is part of American culture. We are the heaviest consumers. We are the largest (soon to drop to 2nd largest) economy in the world. In spite of this fact, we've had a negative savings rate.

With unemployment in the double digits and foreclosure rates continuously climbing, what's an average American family to do? Now get this, we Americans are the proud and distinguished owners of over 1 TRILLION dollars in household credit card debt! Chase alone owns over $167 BILLION dollars of general purpose credit card debt with $780 Million in profit on this debt!!! The average American household had $10,679 in credit card debt at the end of 2008. Paying the minimum payment of $268 per month, at 18% interest, it will take that average American household 25 years and 7 months to payoff; including another $14,196 of interest!

In my opinion, debt settlement is the answer. Debt settlement allows you to settle your debt usually from 24 to 48 months. There are many companies that provide debt settlement; however, there are some negative issues that may come up. With many small debt settlement companies, some of the large debts you have may end up getting a judgment against you since they don't want to wait 3 or 4 years to get paid. partners with the largest debt settlement group in the nation eliminating a lot of the headaches and problems previously associated with debt settlement. The client is in complete control via an online portal monitoring every step of the way! This is revolutionary to the debt settlement industry as we are backed by a hedge fund company that backs and purchases debt to avoid previous issues. Also, the client is provided with 60 hours of court time via our attorney network. The client is in the driver's seat as they monitor all progress via an online portal.

Debt can be debilitating to a family. In so many cases, the money going out of the family budget is just to pay interest. In my opinion, debt ruins lives. It takes over and before you know it, there's no way out except via Bankruptcy. That ugliest of financial words! You can avoid Bankruptcy by using debt settlement. For example, on that same 10,679 debt load, debt settlement will have you out of debt and on your way to debt free in as little as 24 months paying less than the original minimum payment of $268 at $244. At 36 months, your payment will be $163! And best of all, you'll be debt free! The feeling of debt free is truly liberating!!!

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