Making Minimum Payments Is Like Taking Out An Auto Loan For 33 Years!

Most consumers that have excessive credit card debt are making minimum payments. And that puts a huge grin on the face of the credit card companies! Why? So they can keep you in debt for life!

Your creditors structure their offers of credit in such a way that entices you to only make the minimum monthly payment. They will do everything in their power to get you to continue making minimum payments.

For example, your monthly statements don't say "maximum payment due", but rather "minimum payment due". They take advantage of the fact that most people live paycheck to paycheck and it’s much easier for them by making minimum payments.

Also, as long as you're making your payments on time, the creditors are quick to bombard you with offers of higher credit limits. They could care less if you got laid-off and have a stack of bills to pay! All they want is to bury you further and further in debt.

Why would they want you making minimum payments? Because about 98% of the payment is applied to the interest, not the principal! This is why your balance seems to never decrease. For many, the balance grows due to additional credit card usage, fees, penalties, etc.

Consequently, if you have $30,000 of unsecured debt, and you are making minimum payments, and your average interest rate is 18%, it will take you about 33 years to pay-off your debt! But your creditors won't disclose this information on your monthly statements.

If you took-out an auto loan and the loan officer told you that the term for the $30,000 car was 33 years, what would you think?

To prove this, see creditcards.com. Click on "credit card calculator", then "minimum payment calculator", and input the required information to determine the pay-off duration.

I cannot find any reason whatsoever to continue making minimum payments. If you are overloaded with credit card, or other types of unsecured debt (e.g. medical bills, collection accounts), there are other options and strategies that are available.
To name a couple, Debt Management assists debtors by negotiating with creditors to lower the interest rate. Also, for debtors that are behind on their payments, the debt management counselor will also attempt to get unpaid interest, penalties, and late fees waived.

You may also consider Debt Settlement. This program helps debtors by negotiating with their creditors to significantly reduce the principal amount of debt that the debtor owes. By lowering the balances, a debtor will be enabled to pay-off debts much faster than making minimum payments.

By not making minimum payments, nothing positive can happen. There are various methods of debt elimination. You need to find the best option for you.




Debt Free Solutions is a debt consulting company located in Long Beach, CA. We have been in business for 10 years. We assist Americans across the U.S. to eliminate excessive credit card and other unsecured debt.

We utilize various programs and strategies to aid them in dissolving their debt in the quickest, safest, and most efficient method possible. We also analyze the risk factor. We structure our programs to drastically minimize the risk that is inevitable with all debt elimination programs.

We offer our clients much more than a debt settlement company does. The vast majority of debt negotiation companies simply settle your debts on your behalf with your creditors- nothing more.

On the other hand, we provide free services to significantly help to minimize the risks that are involved in negotiating with your creditors.

First, we offer a free, no-risk 10 day trial service. During our free trial, we negotiate with your creditors on your behalf to lower your interest rates. Also, we research to see if you have any old debts that you are not legally liable to repay. If, for any reason, you are not completely satisfied, you simply walk away. No commitments. No contracts.

Next, we provide a comprehensive credit repair service to all our clients. This is a $795 service that is absolutely free!

Also, we offer free attorney consultation (a maximum of five sessions) in case one or more of your creditors makes any threats.

Last, we provide a written guarantee that our clients’ creditors will settle for an average of 50% or more for all of the debts they attempt to negotiate.

Our services are competitively priced- and include the above free services!
www.debtfreesolutions.mobi
(800) 668-8090




It’s critical that you choose the best way to get out of debt. You need to weigh the pros and cons of each program to determine which program is best. Choosing the wrong program may cause a financial disaster!

http://nomoredebt.debtfreesolutions.mobi