FREE Settle My Debt Settlement

Oct. 3, 2011 - PRLog -- The FREE Settle My Debt Program that works in conjunction with Bankruptcy or Debt Settlement takes on your credit card companies by negotiating your debt with a settlement that is agreed upon by you first, and then the credit companies.

When you bought all that stuff at every one of your favorite stores, you weren't thinking about having to pay back all the debt at some point.  This is where the Free Settlement My Debt Program has proven to lower your credit card bills and medical debts.  Keep in mind that you can't get rid of your back taxes.  You can use a tax debt lawyer for your IRS problems, but when you speak to an expert debt settlement account manager it's important to view the debt settlement calculator so you can erase your debt now.  http://freesettlemydebt.com

In a recent news post from SeekingAlpha.com: If you're looking for the U.S. consumer to pull us out of our economic doldrums, don't bother. According to a recent study, the ratio of household debt to personal income still remains at a staggering 154%, only 7.5 percentage points lower than its pre-recession peak. What's to blame for the slow pace of deleveraging? Persistently high unemployment, stagnant wages, high commodity prices and overall stock market volatility not seen since 2008.  

Let's take a closer look.  You first lost your job once Wall St. decided to lie to the American public regarding inflated earnings and credit backed mortgage defaults from consumers who told the mortgage banks that they made more money than they actually did.  At the time, the mortgage companies were offering no income verification loans as long as they had a certain credit score.  With the implode of the markets, the construction industry as the first to feel the pain. Nationwide, building houses, commercial property, etc. came to an absolute stop.

When the illegitimate new homeowners had to continue paying their mortgage, credit card debt, medical debts; they ran out of money.  Homeowners are now opting for the Free Organization that will settle your debts.  Sometimes you're able to get your life back on track if you've recently gotten a job and or you change your lifestyle so you can start paying off your credit cards, not just continue to pay the minimums.  Only paying your minimum requested amount by your credit card company has many negatives that you should be aware of including never really being able to pay off the entire balance in your lifetime.  http://erase-your-debt-now.com

The minimum payment on your credit card is determined by taking a percentage of your balance of your balance and charging you that percentage each month. This amount is a very small percentage of your balance, usually about three percent, and it would take you years to pay off your credit card if you followed this outline.

For example if you have a credit card with a $6000.00 balance, and make a three percent payment each month, this a $150.00 payment. $50.00 of this covers the interest, and it will take you 210 months or seventeen years to get out of debt. Over time the amount of your interest will be over $2000.00.

The minimum payment on credit card debt is calculated as a percentage of your total current balance, or as all interest plus 1 percent of the principal. Card issuers also set a floor to their minimum payments -- a fixed dollar amount that the minimum payment won't fall below.

The minimum payment drops as your balance is paid, but thanks to compounding interest, you will end up paying for a long, long time if you pay only the minimum.

Suze Orman stated on Oprah; ""The sad reality is that the credit card industry is taking actions to protect themselves with no regard to your needs or how good you have been about paying your bills on time. The problem is that most credit card companies are either reducing your credit limits, raising your interest rates and are even paying you to close down your account. Many of you are even finding that when you do finally pay off your credit card debt that the  issuing credit card company of that card is closing that card down as fast as they can so you cannot ever charge on it again. You did everything right, and yet still you could have your credit limit reduced, which can have a negative impact on your credit score."

Learn more about how to deal with your debt by speaking with http://debtarbitrationcompanies.com

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FREE Settle My Debt™ provides its client's with the ability to satisfy their credit card debts, medical debts and any other form of unsecured debt in full while paying less than the full amounts owed. A Debt Settlement Account Manager is waiting for your call. (877) 726 - 8299