Problem: “My payments are too high.”  

Americans’ reliance on credit cards has become an epidemic, with the average American household carrying over $16,000 in credit card debt. There are many factors for this, but some of the most important is this: In the last fifteen years, the cost of living in the U.S. has gone up by over 30%, yet household incomes grew only by 28%. Additionally, medical expenses have gone up by 57% since 2003, while food costs have risen by 36% and housing 32%. It’s really simple math; the cost of living has outpaced our ability to afford it. The sad reality is more and more Americans are forced to use credit cards to cover even basic needs like food and clothing.

With large debt amounts, even if you’re able to meet the monthly payments, you effectively set yourself up for potentially years (or even decades) of having to pay much more in interest charges. This can cost you literally tens of thousands of dollars of extra money. Money that could serve you much better by being put into savings or investments.

Take the following example of a borrower with $10,000 of credit card debt:

• Balance: $10,000
• Interest Rate (APR): 17%
• Minimum Payment: 3%

In the above scenario, making only the minimum payment,  it would take over thirteen years to pay off your debt. In that time, you would pay over $8,000 in interest charges alone. As your balance is paid, the minimum payment drops, but due to compounding interest, you will end up paying for a long, long time if you pay only the minimum. This also does not take into account any new charges either.

Making minimum payments on debt, especially credit cards, is a road to nowhere. It only benefits your creditor. Often when monthly debt payments become too high to meet on time, the issue goes hand-in-hand with carrying a total debt load that is simply unmanageable

How We Solve it:

We take an aggressive stance when dealing with creditors and have over a decade of experience negotiating on our client’s behalf to secure payments that are manageable and fit their budget. On average, we’re able to negotiate and settle the outstanding balances for 40%-60% of the amounts owed, which effectively slashes your monthly payments, and sets you up to complete a program in an estimated 24-48 months.

Typically monthly debt payments being too high is the biggest issue consumers face. This results in an endless cycle of either making minimum payments and incurring interest charges that can literally go on for years, or worse, falling behind and/or missing payments completely. Our experienced consultants significantly reduce those monthly payments so that you can pay off the debt faster, with a payment plan that fits your budget, and work towards turning your financial life around quickly.  

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