In my opinion, very few individuals are realistic as far as their debts are concerned.
The moment they receive their credit cards, they become very happy.
Why should you become happy? Have you been given a gift? Certainly not.
Rather, you have been given the freedom to borrow money whenever you want.
What is the big deal about that? If you borrow money, you will have to repay it in full along with interest.
This means that you have absolutely nothing to enjoy except for some convenience.
This is how a realistic man will think.
However, most of us behave as if our monthly income has risen by a significant amount.
We start spending money lavishly and end up facing credit card debt problems.
The irony is that people do not become realistic even when they are facing the problem of excessive debt.
When searching for debt relief, they still adopt unrealistic approach and behave in a very foolish manner.
The end result is that they believe the tall claims made by fraudulent service providers and think that they can get rid of $50,000 debt in a single day or a single week.
You will take anywhere around 12-36 months to repay your credit card debts in full.
This is the minimum time duration that we are talking about.
If you are not very disciplined, you may end up stretching this debt to an even longer duration.
Well, when you are earning $35,000 in a year, it is obvious that you cannot afford to incur debt worth $50,000 in a span of few months.
If you have, you will have to put in a lot of hard work to get rid of the same.
You will have to follow the steps given below if you want to reduce your debts quickly.
Get in touch with your lender.
Explain that you are facing financial problems and secure a debt settlement deal.
Employ the services of a professional debt settlement company if required Finalize the deal and get it in writing.
Once this is done, your $50,000 credit card debt would have come down to just $25,000.
Make regular monthly repayment to the credit card issuer.
Either deposit the money in the escrow account under the control of the debt settlement company or pay directly to the credit card issuer.
Provide for the fees charged by the professional debt settlement company.
The balance amount, accumulated over a long period of time, will be transferred to the credit card issuer.
The moment they receive their credit cards, they become very happy.
Why should you become happy? Have you been given a gift? Certainly not.
Rather, you have been given the freedom to borrow money whenever you want.
What is the big deal about that? If you borrow money, you will have to repay it in full along with interest.
This means that you have absolutely nothing to enjoy except for some convenience.
This is how a realistic man will think.
However, most of us behave as if our monthly income has risen by a significant amount.
We start spending money lavishly and end up facing credit card debt problems.
The irony is that people do not become realistic even when they are facing the problem of excessive debt.
When searching for debt relief, they still adopt unrealistic approach and behave in a very foolish manner.
The end result is that they believe the tall claims made by fraudulent service providers and think that they can get rid of $50,000 debt in a single day or a single week.
You will take anywhere around 12-36 months to repay your credit card debts in full.
This is the minimum time duration that we are talking about.
If you are not very disciplined, you may end up stretching this debt to an even longer duration.
Well, when you are earning $35,000 in a year, it is obvious that you cannot afford to incur debt worth $50,000 in a span of few months.
If you have, you will have to put in a lot of hard work to get rid of the same.
You will have to follow the steps given below if you want to reduce your debts quickly.
Get in touch with your lender.
Explain that you are facing financial problems and secure a debt settlement deal.
Employ the services of a professional debt settlement company if required Finalize the deal and get it in writing.
Once this is done, your $50,000 credit card debt would have come down to just $25,000.
Make regular monthly repayment to the credit card issuer.
Either deposit the money in the escrow account under the control of the debt settlement company or pay directly to the credit card issuer.
Provide for the fees charged by the professional debt settlement company.
The balance amount, accumulated over a long period of time, will be transferred to the credit card issuer.
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