"I wanted to pay off my high interest credit cards, because the monthly payments don't seem to make a dent in the total debt owed.
The online process was so simple and I thought too good to be true!
Debt consolidation is a method often used in this situation and helps consumers simplify their budget.
After consolidating their debt, many people report a reduced sense of stress.
You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.
But most of the time, after someone consolidates their debt, the debt grows back. They still don’t have a game plan to pay cash and spend less.
They also probably haven’t saved for all of the “unexpected events,” which will eventually become debt too.
In other words, the good money habits for staying out of debt and building wealth aren’t there—their behavior hasn’t changed—so it’s extremely likely they will go right back into debt.
Today, a majority of the home equity lines he approves as owner of Priority Plus Lending will be used to pay off Americans' credit card debts.
Nor is his route the only one to spring up in a capitalistic society: Where there's a need, there's a buck to be made, even among the broke.