The efficacy of the strategies is completely dependent on the commitment of the people to the program and staying zoned in on the goal of getting all the balances to zero.
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New York, New York (PRWEB) August 30, 2012
The last five years proved to be very challenging to a lot of people; the global economic crises hit people’s finances really hard and created massive losses. Many retirees consumed their retirement funds to alleviate the effects of the economic instability and yet still found themselves with numerous debts to pay. Debt Consolidation USA imparts debt relief solutions so retirees can lessen the stress of fulfilling their remaining financial obligations on such a smaller monthly income.
A spokesperson of Debt Consolidation USA reveals that many retirees often make the mistake of using their credit cards frequently to cover their expenses.
“Of course, that only works in the short term, serving only to worsen the burden of debt and creating a bigger problem later on in life,” he adds.
For retirees who are already suffering the mounting consequences of their credit card use, the company came up with "Three Ways to Reduce Credit Card Debt" which is composed of three strategies, namely the “snowball” strategy, which helps with what’s called “revolving credit” such as credit card debts; the highest APR strategy, which means paying off the credit card with the highest interest rate or APR first; and lastly, the strategy of using the zero percent balance transfer card, which means that debts are transferred to the zero percent balance transfer credit card to get time-out from interest payments for 6 to 20 months. Consumers need very good credit scores to qualify for these low rate cards.
The efficacy of the strategies is completely dependent on the commitment of the people to the program and staying zoned in on the goal of getting all the balances to zero. The people of Debt Consolidation USA, however, stress that there is just no way to get ahead and reduce debt if retirees continue to use their credit cards, so the best thing to do is to cut them up while proceeding with the minimum payments.
Apart from the three strategies to reduce credit card debt, the company also presents the big differences between two popular debt relief options in an article entitled “Debt Consolidation vs. Credit Counseling.” The fine points and limitations of these two provisions are explicitly explained in the article and readers can better understand which would work more effectively for the financial crisis they are experiencing.
There are other programs available through the Debt Consolidation USA and the efficacy of these programs ranges from preventive to assistance, to completely ridding people of debt issues. With these services, retirees do not have to feel trapped or pushed against a dead-end financially; help is available, and it’s really just a matter of asking for it.