PAY OFF DEBT

Recently on the internet, there has been a lot of talk, or what we call "chatter", regarding the "snowball effect" for paying off your debt. The theory is simple. You pay off your lowest credit card debt first, and then use the money you were using to pay off your lowest card to pay off the next credit card debt, and so on...until, at last, after 15-20 years, you have paid off every credit card that you own.

This theory has been around since credit cards were first invented. Unfortunately, it did not take into account the real world of today. What if I lose my job or my wife loses her job, or we both lose our jobs? What if we are facing foreclosure, etc.? The snowball effect would freeze right in its tracks.

That is why a debt reduction or debt relief program such as the one we offer at Nationwide Debt Reduction is such a better solution. With our debt reduction program, we negotiate and settle your debt directly with the creditor first. That way, you are locked into paying off a lesser amount of debt in a much shorter time frame.

We applaud those entities that are always looking for solutions to pay off debt. We feel, however, that the simplest, most ethical way off getting out of debt is to negotiate first and then pay off your debt.