A great majority of Americans are overwhelmed with consumer credit card debt and many are having difficulty paying their rent or mortgages because of their large monthly minimum credit card payments. Many consumers are also stressed out about what their financial futures might present due to these pressures. If you are one of many Americans in this situation, rest assured you are not alone.
Studies show over 60% of Americans live paycheck to paycheck, which means that even one small life event can cause someone to have to turn to their credit cards for assistance. Most people, however, do not realize how quickly this can spiral out of control due to high interest especially with cash advances which usually result in higher fees or interest charges. For most, in a matter of only a few months, the debt amount can explode into a very large amount which will create much larger minimum payments each month.
Sadly, most debt relief options leave consumers with little help after all fees are accounted for and makes them liable to lawsuits from creditors. A great majority will also destroy your credit from 3-10 years depending on which path you take.
A recent CreditCards.com article reported that total U.S. outstanding revolving debt, which is chiefly made up of credit card balances, was $953.3 billion as of May 2016. (1) The amount of average credit card debt has been steadily increasing over the long term. As of 2013, a person born between 1980 and 1984 had on average $5,689 more in credit card debt than his or her parents (those born between 1950 and 1954) at the same stage of life and $8,156 more in credit card debt than his or her grandparents (those born between 1920 and 1924).
What is the average consumer credit card debt? Average credit card debt is not a single number. Instead, you will get many different answers, depending on how you measure it. The average debt is:
$1,128 per card that doesn’t carry a balance (the amount is charged, but paid off monthly)
$1,674 per account, U.S. adults with a credit report and Social Security number
$3,766 per person, U.S. resident adults
$5,232 per person, excluding unused cards and store cards
$5,540 per U.S. adult with a credit card
$7,494 per card that usually carries a balance
$9,600 per household with credit card debt
There are no shortages of over promises for debt relief offering to solve your problems and make your debt go away, but a very high percentage end up paying large amounts of money to settle debts only to end up dropping out of the program before the process is completed. The Illinois Attorney General stated that an estimated 65% of consumers never complete their debt settlement program due to the large amount of fees charged and the difficult process involved.
A New and Improved Approach
After over a decade of extensive testing a new debt relief method is now finally available to the general public- San Antonio, TX-based Debt Recovery Center uses a unique two-pronged proprietary legal method to render credit card debts uncollectable. This new method delivers a debt relief alternative and gives consumers a way to find debt help without the burdens of traditional programs.
The company is now opening up a limited number of slots for acceptance with this proven debt relief method.
This unique approach offers many key benefits compared to traditional debt relief methods including:
Up to 65% resolution of debts
Minimal negative credit impact- only 10 months on average
No tax burden to the consumer
Contact information transferred to take over all communications from creditors/collectors
100% Money Back Guarantee
A number of large companies have been offering debt relief programs for many years now, but a quick Google search will reveal an unprecedented amount of unhappy customers. If you’re suffering from overwhelming credit card debt and looking for a better alternative, visit the website below for a free debt reduction quote:
Company Name: Debt Recovery Center
Contact Name: Marco Salinas
City: San Antonio
Country: United States
Email: info (at) debtrecoverycenter.org
Website URL: http://www.DebtRecoveryCenter.org
Source URL: http://authoritynewsnetwork.com/new-program-reveals-what-traditional-debt-relief-companies-dont-want-you-to-know/
Release ID: 193568