Christian Debt Recovery

Debt 5000 Years

June 21st, 2007 |

Author: Gavin

debt 5000 years

Pay Credit Card Debt Resolution Is Affordable for Everyone – Find Out Why

Do you want to know how I was able to afford to have my credit card debt settled? Here I am going to explain how there is no reason why anyone can afford to walk away from such a huge opportunity as this. Now thanks to the Good Faith Debt laws we have the ability to leverage and to protect the consumer’s rights. Everyone who has a high credit card bill and needs answers to overcome debt has come to the right place. I will explain using real numbers to help demonstrate real savings and a real solution to your financial problems.

Ok, you do have a steady income to pay your bills but money is tight right now and maybe you have used your cards while out of a job, to keep food on the table and also to make sure your utilities were all paid. Perhaps your car broke down and needed repairs and that took a big bite out of your card. Or perhaps the dog got sick or the kids and had to buy med’s out of pocket and the possibilities go on and on. Right? It happens.

Now the bills are getting bigger and bigger because the interest rate is 12% and what used to be $3000 is now $5000 and you not only have one card, but you have two. Let’s say you have two credit cards with a total of $8000.00 in credit card debt. Are you still wondering how to get out of this mess? I know, before I found out myself I was baffled. Then I took the steps I needed to take by looking up some information online and calling a few different companies and what I found out just seemed too good to be true. So this is what I did.

I started by making a total of all my loan balances that I had. By the way, we are not allowed to include such bills as, car loans, mortgage loans, government loans of any kind and no medical bills that have NO interest charges on them. Once I calculated my total loan balance I thought about how much I could realistically pay on ANY loan per month. Based on my monthly income which is near $2400, I realized the very most I was able to pay is roughly 10% which gave me the amount of $240.00 per month. I then took it one more step to give me a range of money for payment I could work around. That amount turned out to be $230 to $300 per month. The total amount of my loans all totaled $12,000. So, again I then divided the twelve thousand by 12 payments or one year and the amount was, you guessed it, $1000! That’s a lot of money and that is without adding interest.

So, this gave me a closer look at what I really was up against including those nasty collection agency’s that are always aiming to threaten me. The first company I called explained it this way that they could guarantee to wipe out 55% of the $12,000. Ok, so I asked them to explain and to please give me an offer I couldn’t refuse.

Here’s the offer they made. Based on the fact that I had a credit card that was not MAXED OUT I was able to pay the enrollment fee of $500 and you guessed it, bill it to my credit card that I was seeking to settle. So, in reality, the 55% now gets taken out off that $500 dollars as well. Included in the settlement fee is a 5% charge on the total amount I owed on all the loans I wanted to settle. That 5% was now added to the minimal 40% remaining balance.

So, here is the formula all in detail: $12,000 + $500 fee = $12,500 x 60% = 7,500 which will be removed leaving me a 40% balance of $5000. WOW! Imagine, I spent $7,500 that I no longer had to pay! And I was told I will NEVER hear from the collection agency and I will NEVER have to pay an end of year tax penalty.

So, I decided to go for a payment plan of 3 years which is equal to 36 total payments-Again here is the math. $5,000 divided by 36 payments = $138.89 per month. Now we will add 5% interest to the $12,500 = $625 + $5000 = $5,625 paid over 36 monthly payments = $156.25 per month. Phhfhew! Talk about RELIEF!

Praise God it is over and I was able to put it all behind me. If you feel you are in over your head and want to try to pay off some of your debt you may want to look into the same company as I did. Timesavers-4Homesolution LLC are real people who care about helping people to enjoy life again!

About the Author

Conray Nickless is a certified distressed financial consultant and a credit counselor. We offer an array of loss mitigation/negotiation services to relieve credit card debt, student loans and distressed property and pre foreclosure help doing business in all 52 states. To learn more about reducing financial stress please visit us at http://www.timesavers-4homesolution.com

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