Debt Reduction
Although we can negotiate all types of debt, the
most common is credit card debt. In fact the average American Family
today has 5-10 credit cards, with a total balance of $18,450.
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Making a little more than minimum monthly payments or 4% of the
balance on $18,450 would take you 208 months or 17.3 years
to pay off with a 18.9% APR. Total interest paid would be $11,890.87.
Your total amount paid would be $30,340.87, and that is if
you never used the cards again.
The Nationwide Reduction Plan, is a hands-on solution that will help
you:
- Cut your principal by 50% or more..
- Cut your current monthly payment by as much as half.
- Cut the time frame from about 17 years to an average of 3 years
or less.
- Protect your rights under the Fair Debt Collection Practices Act.
- Stop creditor harassment
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Many of your creditors are counting on the fact that you don't
know the collection laws.
They may use this against you with tactics of
intimidation and harassment, and it can make your life miserable.
Don't let that happen to you! Many of their tactics are illegal,
and we know how to help.
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Our plan is based on your ability to comfortably make your payments
each month. As your money builds in an account, we will approach your
creditors and settle your debts for pennies on the dollar.
Getting Started: If you are interested
in a free, confidential, no obligation debt consultation, simply go to
the "getting started tab" and tell us more about you. You will
be contacted within 48 hours of your submission. If you need immediate
assistance, you can reach us directly at 800-347-9150
The Debt Consolidation Alternative
You can still opt for one of the consumer credit counseling/non-profit
organizations. This is a fairly well advertised option and there are more
than 2,000 such companies. With this option, you will repay the full principal
and a get a break on the interest rate. The only benefit to this option
is a reduction in interest costs. Whereas you would pay a total of 3 times
the principal by making minimum payments on your own, you will pay the
principal plus just a few thousand more in interest, saving you time and
money. And though there's a monthly contribution calculated (usually around
$35), your monthly payments may be lower.
Most importantly, you should be aware that the credit card companies
are the Number One contributors to these non-profit organizations
(and actually helped set them up about 12 years ago when they saw credit
card default on the rise). When working with a non-profit organization,
please be aware you are working hand-in-hand with the creditor.
There are disadvantages to this option. One of the main aspects to know
with this option is the impact it has on your credit. Most organizations
automatically state on your credit report you are participating in their
debt management program. It will show up immediately and stay there for
7 years after you pay off the debt. Many potential creditors view your
participation in these programs in the same light as they view a Chapter
13 bankruptcy.
To find out just how much your credit is costing you, click here: www.cardweb.com.
On the left hand column, you will find a card calculator. Click this on
and it will show you how long it will take to pay off your debt, with
interest, using minimum monthly payments of 3%.
If my wife and I had not gone through this program with NDR, I am
certain we would have had to file for bankruptcy and ruined our
lives for the next ten years. Jim and Nancy Sidoni, Glendale,
CA.
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