Debt Consolidation versus Debt Reduction


We are confident you have heard the term that bankruptcy should be your very last option when dealing with credit card debt, and for most of us, that is very true. We incurred the debt, and is it not morally right to pay it back?

The overall answer is yes, however what if we let you onto a little secret. Did you know that if you have owned your credit card for over three (3) years, you have probably paid off everything you have ever purchased on your card and more? That is why credit card companies are willing to negotiate and settle your debt for a fraction of what you owe. You DO NOT need to consolidate your debt.

Where does this number come from you ask? Well, from the credit card companies themselves actually. To begin with, every time you swipe your credit card with a retailer, the retailer has to pay the credit card company a “transaction fee” of between 2.5% to 3%. Sometime even more!

Next, if you do not pay your entire bill off at the end of each month, they charge you an interest rate. Miss a payment by one day; it is almost certain the creditor will double the amount of interest you owe, on things that were already purchased in the past. Does your company charge you an annual fee? A fee for a balance transfer? A free for taking out a cash advance? Of course they do. These are call “convenience fees” however the only people that are being convenience are the credit card companies themselves.

Now you find yourself stuck in what we call “the debt trap”, whereby you are making the minimum monthly payments, maybe a little bit more, however getting nowhere on paying down your principal. They have you exactly where they want you stuck. You have unbearable debts however do not know where to turn for help.

Next, you go on the Internet and type in “Debt Relief” and you are bombarded by the number of companies that are out there that are all eager to help you. However, because this is a new concept to most people, who have never talked to anyone else about this, they do not know in which direction to turn.

This is where Nationwide Debt Reduction comes in. Our professionals are trained to educate you first. Educate you about the differences between debt reduction and debt consolidation. There is a BIG difference. Our front line professional’s only job is to educate you about these differences, so that you can make an educated decision by yourself or with your spouse, on what direction would be best for you. The very nature of being a Christian company is we minister to you first. If you choose later on to use our services, that is great, however there is no obligation to do so.

Therefore, why not call the toll free number on our web site and schedule a free no obligation consultation with one of our consultants. It is a great way to start you own education process of what is “out there.”