Given the state of the economy, it should be no surprise that the amount of consumer debt in the country has gone through the roof, reaching an all-time high of $2.6 trillion. As staggering as that figure might be, the problem is even worse than it sounds because a majority of that debt--an average of $8,700 per U.S. household--is the result of credit card purchases. Why does that make the debt problem worse? Because the amount one owes to a credit card company is rarely even close to the amount that ends up being paid. And because cardholders can pay for years without seeing a substantial drop in their balances, the problem could be around for years to come. Consolidate Debt Financing can help you break free from the statistical masses and propel you toward a financially confident future.
If you're not convinced of the severity of damage that credit cards can cause, consider this: In December 2008, the number of late payments to credit card companies jumped 18 percent--and that number hasn't stopped its rapid ascent ever since. Being that monthly credit card payments are relatively low, being a little late with one might not seem like such a big deal. But don't kid yourself--in addition to charging inflated fees, credit card companies promptly report overdue payments to all three major credit bureaus. Regardless of whether you eventually make the payment, those derogatory marks will be part of your credit history for a full two years, remaining visible to all creditors, lenders and potential employers. For the people who have already fallen victim to credit card damage, it's too late; their only option is to wait two years, assuming they don't accidentally miss another payment. For everyone else, a preventive measure is available. Consolidate Debt Financing can rid you of high-interest, potentially damaging credit card bills while leaving you with more money every month and a better chance of having a financially secure future.
Credit cards serve as roadblocks along the path to financial security by keeping cardholders trapped in a cycle that leaves them paying exorbitant interest rates on a balance that never goes down. A loan from Consolidate Debt Financing works its financial magic by paying off all of your existing debts and replacing them with one loan that features a greatly reduced interest rate, lower monthly payments and a means to the end of budgetary problems forever. If the economic crisis has taught us anything, it's to be prepared for any financial dilemmas that come our way. By spending less money each month on a debt consolidation loan that you'll actually pay off, you'll have more cash available to make those preparations and set yourself up with a lifestyle you deserve.