Are you wondering if debt settlement is for you? Many millions of people have already made the decision to settle their debt while others preferred declaring bankruptcy. Neither option is an easy choice, but when you're declaring bankruptcy, at least you have an attorney explaining the process to you without withholding information like most debt settlement cold callers. And if you are receiving cold calls from these companies day in and day out, you need to know what you're up against - literally.
Know this - This is an insider's view to the debt settlement industry. In other words, if you knew what I knew, you'd be making better decisions, and you'd know your options before jumping right in or falling prey to an alluring cold caller with a slick script telling you that you can settle your debt for pennies on the dollar.
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Debt Settlement is still highly recommended, but unfortunately, those who know how to present it to you (calling you, emailing, flyers, etc.) have thrown some hefty fees on top of the 15% it already costs to settle your debt - (15% is the standard charge in the debt settlement industry to settle your debt.)
For example - If you have $25,000 of debt that you want to settle, multiply 15% x the $25,000 = $3,750.
It will cost you $3,750 in fees to settle your debt. This is proper and makes the debt settlement program worthwhile.
Here's the Debt Settlement Deal Breaker - Paying anything more than this 15% to settle your debt.
Everything else is taking advantage of the consumer and the debt settlement program is not the right option under any circumstances, as the consumer is just paying way too much.
Junk Fees = Deal Breaker - Monthly service fees, monthly maintenance fees that add up to $50, $60 even $89 a month. Make 36 payments at $50 more every month = $1,800 in additional fees.
These extra fees add up to 50% more in payback! Not kidding.
Let's take a closer look;
If it already costs you $3,750 to settle your debt (15% of the $25,000), you're now adding on another $1,800.00 in overall monthly junk fees.
Your total fees are now $5,550 not $3,750. This amounts to an extra 48% in fees.
Divide $1,800 by $3,750 to see the increased percentage in total fees to pay back your debt.
Another shocking way to look at it is this. Take your total fees of $5,550 that you now have to pay and divide it by your total debt being settled of $25,000.
You're not paying 15% to settle your debt any longer, you're paying 22.2%!
As you can imagine, I've done my homework and the only company that I can find that is truly working for their customers best interest is the one that doesn't charge monthly junk fees.
http://SettleMyDebt.TV - This is the fastest and least expensive debt settlement program out there, bar none.
Feel free to share this and or forward this article and link to those in need, as this is perhaps the safest, fastest and least expensive way to settle your debt. Proper debt settlement!
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