Eliminate Credit Card Debt
In the words of Romeo, "How do I eliminate credit card debt? Let me count the ways..."
Eliminate Credit Card Debt the Modern Way
Okay, so maybe that wasn't exactly how the quote went, but in modern times, if Romeo was courting Juliet, just think of all the money he would probably spend showing his love for her. And if his income was meager, he would more than likely go into credit card debt doing just that. Soon he would need to eliminate credit card debts so he could buy Juliet an engagement ring (thereby incurring moredebt) and save for a house. And then there's the little matter of the wedding. Of course, Juliet's family wouldn't pay for that, what with them not being in favor of a marriage to someone they detest so. But maybe Juliet would be willing to elope. That's a way to eliminate credit card debt before it's even incurred.
Okay, back to Romeo's original dilemma--he wants to eliminate credit card debt so he can buy Juliet an engagement ring. That's the only justifiable unsecured debt he can carry. After all, Juliet is the love of his life, and her happiness means everything to her. Lucky for him, she's not materialistic. She doesn't need all the fancy baubles. All she wants is Romeo's undying love. Romeo knows this and it makes him love her that much more. Still, he didn't want to get her a pebble of a ring.
Romeo decided to search the Internet on the term eliminate credit card debt to find a way to get rid of his credit card debts. He ended up contacting a debt management company and learned that he had two different options to eliminate credit card debt: debt settlement or debt consolidation. He didn't have a house, so a debt consolidation mortgage was out. He didn't have collateral, so he couldn't get a debt consolidation loan.
With debt settlement, he could use what was left in his trust fund to pay off all of his unsecured debts at a discounted rate, but then he wouldn't have any money left for a down payment on a house. In addition, it could appear on his credit report in a negative way, which might impact his ability to get a mortgage when the time comes. A debt consolidation program seemed like a good option because it could also get him reductions in his balances as well as interest rate reductions, but it would take five years to achieve credit card debt elimination. However, his monthly payment would be affordable.
Clearly, Romeo had a lot to think about. But you shouldn't. Not when you know there's a debt elimination program out there for you. You just need to find it. And our Related Resources page is a great place to start.
It's now or never. Consolidate credit card debt today.
All material copyright © 2008 About Debt Relief. All rights reserved.
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