The following chart illustrates the primary options a person might employ to deal with a difficult debt problem. In this example, the consumer has just over $30,000 in total unsecured debt and is having difficulty making their minimum monthly payments. Some type of debt relief is necessary. A person in this situation may even be current on their payments but using extraordinary measures to stay current. Perhaps they're using credit cards to pay minimum payments on credit cards or playing the balance transfer game.

Some, in an attempt to protect a "good credit rating" or "payment record", exhaust funds set aside for emergencies or in retirement plans costing thousands in penalty's and taxes. A person in this situation is in reality "renting a lifestyle" and has just 3 options to deal with the situation before they're forced to file for bankruptcy protection. Option 1: Do Nothing and Continue To "Make Minimum Monthly Payments". There's a saying that "the definition of insanity is doing the same thing over and over again expecting a different result." This couldn't be more true of a person who fails to take action to correct their debt problem. As the chart below illustrates, a consumer making minimum payments would take over 33 years to pay off their debt and pay 274% of the amount they originally borrowed assuming they NEVER used their credit cards again. That's not likely. Most consumers see their "spending limit" as a "spending goal". The minute they "free up" a portion of the "limit", they treat the "available credit" as part of their spendable budget. Option 2: Enroll In A "Debt Management" or "Credit Counseling Program". The goal of a DMP or CCC program is to establish a "debt reorganization plan" with creditors to pay off your debts. Because these "Non Profit Organizations" work for the creditor as an extension of their collection department, they have a list of predetermined agreements to lower your interest or payment to a minimum acceptable amount. Frequently these new minimum payments are higher than your current payment structure. While some may be able to lower your interest rate to 12%, others refuse to drop below 20% or more. The end result for the consumer is they're declined for this program or forced into bankruptcy. DMP and CCC programs require that all accounts be closed and they dictate your "allowable monthly personal expenses" for groceries, utilities etc. in order for you to qualify. Further, once you're accepted, they report that you are enrolled in a financial hardship program to the various credit agencies. For most lenders, this report is viewed as damaging as a Chapter 13 Bankruptcy to your credit score. You make a monthly payment to the Debt Management Program and they disburse payments to your various creditors in return for a percent of your payment as a "collection fee" or "fair share" contribution. A common complaint is that these payments are not disbursed to creditors on time causing additional late fees and other charges. As the chart above illustrates, the consumer in this example would make payments for almost 6 years and pay back 162% of their original debt amount. Option 3: Use the power of The Debt Solution Debt Settlement Program to eliminate debt in 36 months or less. Let's look at this same consumer and the results of The Debt Solution Debt Settlement Program.

HOW LONG DOES IT TAKE TO PAY IT OFF

In this example, by making minimum payments it will take over 33 years to pay off the total unsecured debt! Unfortunately, this is exactly what the credit card companies want because it benefits them greatly. However for you, the consumer, it's a terrible financial trap that prevents you from reaching your financial goals and living your dreams.

By using the power of The Debt Solution Debt Settlement Program your total unsecured debt is paid off within 3 years, allowing you to focus on your important family goals. The same money that you applied to debt elimination through The Debt Solution Debt Settlement Program can now be applied to building assets that can produce income rather than liabilities that produce expenses. The chart below illustrates the hidden cost of debt to your future. The overall benefits of The Debt Solution Debt Settlement Program to your financial future are astounding! In this example, the client enjoys an immediate reduction in the amount paid to creditors by $200.00 per month! If they take this savings and set it aside monthly for emergencies, in just 3 years when they complete The Debt Solution Debt Settlement Program they will save $8,701.53 in cash and eliminate your total unsecured debt of $30,010 for just $15,446.90. Imagine being Debt Free, having $8,701.53 in cash and have eliminating your total unsecured debt for 51% of the original amount! Further, they've reduced what they would have paid in minimum payments over 33 years by $71,844.10. That's a total savings of 222.8% of the original debt amount! These benefits alone make choosing The Debt Solution Debt Settlement Program a sound financial decision but it gets even better. By investing the money that was being used to fund their Debt Solution Debt Settlement Program for the next 25 years they'll accumulate a total of $1,595,416.25 for retirement or other needs!

That amount of money is life-changing and should make anyone think twice about falling into the debt trap.  This "debt trap" keeps most people from achieving financial freedom or peace of mind.  The Debt Solution not only gets people out of debt, but is also putting in place a program to teach our clients how to use their money wisely.

To learn more about our program you can click here to go to our short registration form. It takes less than 5 minutes on average and could go a long way towards chaning your financial future. Or you can call us at 1.866.863.5544. You will receive a Free, Confidential Debt Consultation with no obligation to join our program.