Get out of credit card debt fast, cheap, and without a loan. Our debt services can reduce your individual credit card debt by as much as 40-60% and help you get out of debt in 12-30 months!
Bad Credit & Personal Debt Facts
Consumer debt reached $2.46 trillion in 2007, which is an increase of almost 3% from the year before. (This debt includes all types of personal debt except for mortgages.)
An estimated 820-846,000 bankruptcy filings occurred in 2007. (Source: Credit Slips)
An estimated 1 in 27 households filed bankruptcy in 2007.
More than half of those bankruptcy filings were ultimately caused by some sort of medical problem, whether it resulted in high bills or caused the debtor to lose income from missing work.
Approximately one in six households with credit card debt pays only the minimum monthly payments
Roughly one in seven consumers is using 80 percent or more of their credit limits on their cards
The average credit card debt for households who have at least one credit card is over $9,000
The median income in the United States is estimated at just over $44,000.
Total revolving debt reach $904 billion in 2007. Revolving debt includes credit cards and credit lines where the consumer can draw on the balance until it reaches a certain limit.
Americans spent more than they earned in 2007.
Debt Relief & Debt Management
These are the five options available to consumers seeking help with their personal debt: 1) continue with the minimum payment path, 2) taking out a debt consolidation loan, 3) filing bankruptcy, 4) enrolling in a debt management plan, and 5) using the help of a debt settlement company. Let’s take a closer look at each of these options:
Minimum monthly payments – This is rarely a good option, unless the interest rates are low and the payments are affordable. If this isn’t the case, this is by far the most expensive of your debt relief options.
Debt consolidation loans – This is the riskiest of the debt management alternatives at your disposal because typically you are asked to secure your home with the loan. In the event you default, you could potentially lose your home.
Filing bankruptcy – This option can be an unfortunate but necessary option for consumers who owe a lot and have little to no income to pay off the debts. Due to the severe credit rating impact, however, this is generally a last resort for most debtors.
Credit counseling – With this debt solution the consumer can enjoy interest rate reductions and get out of debt in 4 to 5 year, while saving tremendous sums of money.
Debt settlement – Also known as debt negotiation, these debt reduction programs can actually reduce your principal balances owed, getting out of debt in 2 to 3 years. This is another risky solution, but the rewards can be enormous.
Let PayingPaul.Com match you directly with someone who can help you manage your credit card debt. Submit a form today!
Debt Relief & Debt Management
These are the five options available to consumers seeking help with their personal debt: 1) continue with the minimum payment path, 2) taking out a debt consolidation loan, 3) filing bankruptcy, 4) enrolling in a debt management plan, and 5) using the help of a debt settlement company. Let’s take a closer look at each of these options:
Minimum monthly payments – This is rarely a good option, unless the interest rates are low and the payments are affordable. If this isn’t the case, this is by far the most expensive of your debt relief options.
Debt consolidation loans – This is the riskiest of the debt management alternatives at your disposal because typically you are asked to secure your home with the loan. In the event you default, you could potentially lose your home.
Filing bankruptcy – This option can be an unfortunate but necessary option for consumers who owe a lot and have little to no income to pay off the debts. Due to the severe credit rating impact, however, this is generally a last resort for most debtors.
Credit counseling – With this debt solution the consumer can enjoy interest rate reductions and get out of debt in 4 to 5 year, while saving tremendous sums of money.
Debt settlement – Also known as debt negotiation, these debt reduction programs can actually reduce your principal balances owed, getting out of debt in 2 to 3 years. This is another risky solution, but the rewards can be enormous.
Let PayingPaul.Com match you directly with someone who can help you manage your credit card debt. Submit a form today!