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2 years ago about How to Consolidate Debt

I have approximately $53,400 in Credit Card Debt, what can I do to eliminate all of it?

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skristoff | 2 years ago
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If by "eliminate it" you mean pay it off, I'd say consider the Dave Ramsey method: start with the card with the smallest budget, and pay it off. You'll get a mental boost when it's paid off, then move onto the next one. He has some great tips for getting out of debt in general and taking control of your money.

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mdonnadesigns | 1 year, 11 months ago
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I agree that the Dave Ramsey method is very effective. Now, if you don't have any assets and qualify for Chapter 7 bankruptcy, that may serve your needs better.

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fintech | 1 year, 5 months ago
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You should run as fast as you can from any debt settlement or debt consolidation program. They are very costly, extremely ineffective and can leave you exposed to lawsuits.

First of all traditional debt settlement has well over a 70% failure rate, mainly because they provide you no protection from the creditors. They offer to settle your debts for average of 50%, they charge you 15% of your debt as a fee, then you pay income tax on the cancelled debt. When all is said and done you are back to at least 85% of what you started with in costs out of pocket. What did that accomplish for you? All during that agonizing 4 or more year process your credit is in the tank, precluding you from moving on with any of your financial goals. That's a long time to be exposed to lawsuits.

In debt consolidation you are trading an unsecured credit card debt for a secured debt backed by an asset such as your home. That is the worst possible financial blunder ever offered in the credit industry. Could cost you your home.

Why not empower yourself with a unique program that enables you to pay off those accounts for 10 cents to 20 cents on the dollar? That's right 80% to 90% off on the balances your creditors say that you owe. You can be debt free in about 18 months, be protected from creditor liability lawsuits, saving you many thousands $$$ in out of pocket costs, no tax consequences and your credit will be restored at the end of the process. Do your research. Just Google "credit card debt resolution" or "zero credit card debt" and you will find the ultimate solution.

Be sure to visit http://www.zeroccdebt.com and http://shieldedcircle.com/mike
Leave your contact info on site and call 800-294-3724

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