The Nationwide Debt Reduction program is one that actively negotiates all types of unsecured debt, such as credit card debt, medical bills and personal loans. In fact, most Americans wanting debt help need it most for credit card debt. Today, the average American family today has 5-6 credit cards, with a total debt balance owed of $28,450.
Making a little more than minimum monthly payments (2.5% of the balance on $28,450) at 15.9% would take you roughly 57 months or almost 5 years to pay off and that is if you never used your credit cards ever again! Five (5) years is a long time just to get out of debt. In addition, the amount of interest you would pay on this debt would be astronomical. In this example alone, if you were making payments of $710/month you would end up paying a total of interest of $12,020! I don’t know about you, however I know of several things I could purchase with $12,000 of “extra money” versus paying it credit card companies.
Our Debt Reduction Program is a hands-on solution that will help you:
- Cut your principal by 50% or more
- Cut your current monthly payment by as much as half
- Cut the time frame from about 17 years to an average of 3 years or less
- Protect your rights under the Fair Debt Collection Practices Act
- Stop creditor harassment.
Many of your creditors are counting on the fact that you don’t know the collection laws. They may use this against you with tactics of
intimidation and harassment and it can make your life miserable.Don’t let that happen to you! Many of their tactics are illegal, and we know how to help.
Relief is Possible! Our program is based on your ability to comfortably make your payments each month. As your money builds in an account, we will approach your creditors and settle your debts for pennies on the dollar.
If you are interested in a free, confidential, no obligation debt consultation, simply go to the ‘Contact Us’ tab of our website and tell us more about you. You will be contacted within 24 hours of your submission at a time that is most convenient for you. If you need immediate assistance, you can reach us directly at our toll free number which is: 800-890-6658 anytime between the hours of 8:00 am and 5:00 pm (PST), Pacific Standard Time. We are located in the Phoenix metropolitan area.
We would caution you about consumer credit counseling/non-profit organizations otherwise known as debt consolidation plans. These companies are fairly well advertised however there is major difference between debt settlement and debt consolidation. To read more on ‘The Difference’ read this article. In a debt consolidation program, you will repay your entire principal in full. The only real benefit to this option is a reduction in interest costs. Whereas you would pay a total of 3 times the principal by making minimum payments on your own, you will pay the principal, plus just a few thousand more in interest payments. They will also charge you a monthly contribution calculated (usually around $35) on how much debt you have, on top of your monthly payments.
Most importantly, you should be aware that the credit card companies are the Number One contributors to these non-profit organizations (and actually helped set them up about 12 years ago when they saw credit card default on the rise). When working with a non-profit organization, please be aware that you are working hand-in-hand with the creditor.
There are disadvantages to this option. One of the main aspects you should know about taking this option is the impact it would have on your credit. Most organizations automatically state on your credit report that you are participating in their debt management program. It looks like you filed bankruptcy on your credit report, even though you did not. That stays on your credit report for 7 years after you pay off the debt. Finally, the drop out rate after the first year alone is roughly 90%. Therefore, do not be fooled by non-profit debt consolidation programs. They do not work!
To learn about this post, or if you are in need of help regarding your debt, please feel free to contact Nationwide Debt Reduction, Inc. (NDR) toll free at 1-800-890-6658. Our professional advisors will be more than happy to answer your questions. If it is after hours (8:00 am -5:00 pm PST) (11:00 am – 8:00 pm EST) you may go onto our Contact Us website by clicking here, fill out a short form, and one of our advisors can get back to you when it is most convenient for you. We are located in the city of Mesa, Arizona in the Phoenix metropolitan area.