How to Consolidate Then Eliminate Credit Debt by 50%

How to Consolidate Then Eliminate Credit Debt by 50%

You may have already heard of debt relief methods such as debt settlement or debt consolidation and how they have changed the live of countless people dealing with debt problems. But what if you could combine these two methods in order to get a greater cumulative effect?

When you have several credit cards in use at the same time, it's very easy to loose track of how much you owe on all of them and pretty soon you may find yourself with debt on all of them. Managing debt like this is quite hard, even for the best economist, so the best thing to do is consolidate it - this way you will only have to worry about one stream instead of three or four. Also your debt will all have the same interest, so it will be easier to calculate how much you will owe at a certain point in the future.

After consolidation you will of course be left with a loan, and while this is easier to manage, you can help yourself even more with the help of a debt settlement. As the name suggests, this method implies negotiating with your creditor ion order to cu part of your debt and lower your interest. Applied to your loan, this could cut up to fifty percent of your debt and let you pay the rest back at a significantly lower interest level.

By combining these two methods you can get a much better management of your debt and also reduce it to half the original amount. With this clever combination, you can hope to be free of debt in a matter of three or four years, whilst paying the monthly minimums would probably have you paying for over a decade, maybe even two.

In the end, credit card debt is not as complicated to eliminate as it may seem at first site. You only need some good information, discipline and a bit of ingenuity and you will find yourself free of debt in no time at all. This way, bankruptcy will soon be a thing of the past.

Debt settlement is a viable alternative to filing bankruptcy. Most consumers are able to eliminate at least 60% of their unsecured debt while avoiding many of the negative consequences with filing bankruptcy. If you are over $10k in unsecured debt you will be eligible for debt settlement.

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