I desperately wanted to be the king of my neighborhood when it came to the latest gas barbeque grill, which included a wet bar and refrigerator available on the market today. The price tag for my dream BBQ was roughly $5,000 and I want it badly. I was getting solicitations in the mail every other day from these credit card debt companies offering this or that.
In order to earn my business, I applied for one and before long I was holding a new gold credit card with a $5,000 limit on it. I often wonder how credit card companies can just generate money like this out of thin air; I mean who gives the credit card industry the authorization to generate what 100,000 new credit cards each day with a credit limit of say $2,500. And I thought the federal government was bad!
Anyway, now I know if I can afford to pay back $125/month over the next 40 months, my new grill will be paid off… right? I mean $125 times 40 months is $5,000. However, these credit card debt companies are not dummies. They prey on our desire to have things NOW, and pay for it later. They also know that because of the interest they are charging me on my credit card is where they will make their money. It turns out that the “new” gas BBQ grill I bought five years ago, will actually cost me $7,115.42 at 18%, and that is because I never used that credit card again to buy anything else!
To me, this is a sham. However, like 175 other million other Americans, I have too much credit card debt. It is leftover from my late 20’s and early 30s, before I got married and spent time out with “the boys,” going to ballgames, hunting, traveling, whatever “I” wanted to do. The worst part of it all was my job was a financial planner for a bank. Back then my salary barely covered my rent, car payment, suits for the job and my extra curricular activities.
At age 31, I got married, and used my credit cards to basically pay for the entire event, including my wife’s wedding ring! I was in over my head. Then I lost my job. I was in the “debt trap.” I was upside down on my condo, my car payments and my credit card bills, with, what I thought was no way out. Had it not been for debt reduction program, I do not think I would even have children today.
Debt relief companies are for guys like me, who truly through no fault of their own, find themselves unable to pay their unsecured creditors back the money that they owe. By negotiating with each creditor, on my behalf, I was able to get all of this debt behind me in three and a half years. If you feel you could benefit from a service like this, give these guys a call. As a Christian, I chose a Christian company to help me, however I truly was saved.
If you would like more information on how a debt settlement company can help you, why not call Nationwide Debt Reduction, Inc. toll free at 1.800.890.6658 and see if this would help you?