Why Americans Choose Credit Card Debt Consolidation
We've been running this website for over 5 years now.
During these 5 plus years running the site, we've learned a lot about our users. One of the things we learned is WHY they choose credit card debt consolidation over all other programs available to them.
Here are just a few of the reasons we learned about...
#1 Lower Monthly Costs (the obvious)
If you decide to go with a loan for your consolidation needs, then your interest rates will be lower. Because of that, your monthly costs will also be lower. That really appeals to people in debt and just one of the many reasons why consolidating is so widely used.
If you're ok with the idea of borrowing more money, and if you're able to qualify, then you should consider going with a loan. This option just comes down to you being able to qualify.
Important Note: You can also consolidate without borrowing more money from another lender. You have the option of going with balance transfer cards or debt settlement.
If you have $10,000 or more in debt and you are ready to sign up with a third-party firm, then you can use a firm like www.nationaldebtrelief.com.
They are our top rated firm for consolidating without actually borrowing more money. It's easier qualifying for their programs compared to getting credit card debt consolidation loans.
#2 Safety and Security
Consolidation gives people comfort because it's one of the oldest and more trusted options. This solution has been around over 40 years so people feel more confident going with what they know, instead of something that's unproven or unfamiliar to them.
This type of thinking is part of what makes debt consolidation one of the more popular options for lowering monthly costs.
#3 Get More Organized (only one payment)
After consolidation, you will only have one payment to make every month. This makes your debt easier to manage. You don't have to worry if you missed a payment to one of your 4 or 5 creditors.
You will only be making one payment every month now. That makes everything a whole lot easier for you to stay on top of. That's a big part of getting the best credit card debt consolidation deal.
#4 More Time for Family, Friends and Yourself
One of the most precious things we have in life is time. Once a day is over, it's gone for good. You can never get that day back.
Every minute you spend prioritizing your bills, computing your minimum monthly payments and stressing over your finances is one minute you are not playing with your children, cuddling with your spouse or otherwise enjoying life. Debt steals your money, but it also steals something far more important. Time is the only thing you can never get back, and debt is a huge time waster.
So getting a handle on your debt gives you more precious time to spend on the really important things in life, like spending more time with family and friends. Or just doing whatever it is you love to do.
#5 Keeps People Away from Bankruptcy
Americans are terrified of the word "bankruptcy" and try to avoid it at all costs. They see it as something that ruins their finances and credit for years to come.
Most will only consider it as a last resort. So some people consolidate credit card debt as a way to avoid bankruptcy. Some do view it as an option, just not a very good one. They will do everything they can to stay away from it.
#6 End Collection Calls
Without a doubt, Americans hate those pesky debt collectors. And consolidating can stop the fear of hearing your phone ring. No more having to hide from phone calls, no more having to deal with those obnoxious company representatives. You can relax a little more.
#7 Reduce Financial Stress
Debt can harm far more than your pocketbook; it can destroy your health as well. Stress can trigger a number of health problems and contribute to many more, so your dire financial situation could be harming your physical health as well as your mental well-being.
#8 Hope For a Better Future
Every dollar you put toward servicing your debt is one less dollar you have for retirement, the college education of your children and other long-term goals. Having high levels of debt can derail every other decision in your life, from how long you want to remain in your job and what kind of vacation you can take, to where your kids can go to school. Reliable consolidation companies can help in solving these problems.
#9 Helps Your Job Prospects
Many workers would love nothing more than to ditch their current careers and start again. Those who live debt-free lives have the freedom to start anew, even if it means taking an initial pay cut or even leaving a steady paycheck behind.
Employees who have lots of debt do not have that freedom; they remain tied to their jobs as long as that debt is hanging over their heads. Many never even try to get another job because they know that employers will look at their financial records.
#10 Can Improve Your Marriage
Money problems are responsible for a surprisingly large number of divorces and separations every year.
In fact, some studies show that disagreements over finances and problems with debt are among the leading causes of divorce. You already know that high levels of debt can hurt you personally, but the harm can extend to your spouse and children as well.
#11 Helps You Smile More and Enjoy Life Again
No more faking a smile when someone talks about money or finances.
No more having your mind and thoughts consumed by your debt.
No more feeling sorry for yourself.
Once you reduce your monthly costs to more manageable levels, you regain some of your old confidence back and life in general feels a little better. You joke and laugh more easily.
In fact, many things you previously considered to be a chore become a little more pleasant. That's because you know that you're headed toward a better future. Life looks good again.
Many of these benefits apply to your business debt also.
Much More than 11 Benefits
Those are just eleven of the reasons why people choose this solution. I'm sure by now that you can think of a few other benefits you may gain from using a credit card debt consolidation solution.
If lowering monthly payments is what you're looking for, then you need to give this type of debt plan real consideration.
It's worked for thousands of Americans over the years, and it can work for you too... if you do it right.
I hope that this article has helped you in your journey for debt reduction. The hardest part in overcoming an obstacle that life throws at you is to simply get started on it.
Debt doesn't just disappear by itself.
Nothing happens unless you make it happen. Start today.
- How consolidating affects your credit score
- How to choose the right debt program
- Review of the 5 best companies online