Accelerated Debt Management Offers Tips On Taking Advantage Now On New Consumer Friendly Debt Management Rates. Procrastination Can Be Costly With High Interest Debt.

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Consumers may not be aware just how much procrastination is costing when it comes to high interest credit card debt. Take advantage of new consumer friendly rates.

Take Action NOW On High Interest Credit Card Debt

Many consumers that are carrying high interest credit card debt have no idea what it is costing by not taking action on these accounts. Many consumers are not even aware of what “middle of the road” interest rates like 15.9% and 17.9% are costing each month. Many of these consumers are making minimum payments or just slightly above minimum payments and these interest rates are costing hundreds or even thousands of dollars per month. Take for example a credit card account with an interest rate of 24%, accounts with interest rates this high are costing very large amounts of money each month.

Sometimes the fear of horror stories published in the news prevents consumers from seeking debt management help. Check out the firm or firms that are available with through the BBB. Most consumers have no idea just how much high interest credit card debt is costing and procrastination in taking action just continues to cost more and more each month. Consumers call legitimate debt management agencies every day, get the information needed and then do nothing for months and sometimes years. If a consumer is carrying over 30% of the credit limits on the accounts, that issue alone is lowering the consumers credit scores. An account with a rate of 24% at $10000 that could be lowered to 6% through a legitimate debt management program results in tremendous savings. In the debt management program a minimum payment of $200 per month on the $10,000 owed at 6% would be paid in 58 months. The same $200 per month at 24% interest would take 220 months and the interest paid would be $33928.59. By reducing the interest through the program to 6% the savings would be $32417.84. If that figure is divided by 58 months it totals $558.92 per month in finance charges. Consumers call debt management agencies and obtain the information needed to get started with this and then disappear for 6 months or a year and then call back and say it is time to get started. What consumers don’t realize is just by waiting 6 months another $3353.52 in finance charges that could have been stopped 6 months ago has been paid again.

Specialized debt management allows for the consumer to keep some cards out of the program for business, travel and emergencies and consumers are not required to include all accounts. Also balance transfers before enrolling in the program may be in order to get the best rates for all accounts that the consumer is paying on. Some consumers may have 6 accounts of which 3 have very high rates and several others with introductory rates or just good rates to begin with. The right debt management agency will carefully review all options including balance transfers before deciding which accounts should be included initially and if some are at introductory rates those accounts can be left out of the program until such time that the introductory rates expire. If a consumer is carrying high balances with high rates but has good credit and wants to maintain it, the accounts must be paid in full so it is very important to not confuse Debt Management with “Debt Settlement”. Debt Settlement can be a viable option for those consumers that just cannot afford the minimum payments and their accounts are already severely delinquent. However with some guidance “Debt Settlement” can be accomplished without having to pay a firm to accomplish this, CLICK HERE for info on Debt Settlement.

Some Tips on Taking Action Now for Paying Down High Interest Debt

1.    Always Check the firms BBB Report Click here
2.    Be sure the counselors spoken to explore all options including pre program balance transfers.
3.    If accounts are current and maintaining the credit rating is of importance remember that all accounts must be paid in full, (don’t confuse “Debt Settlement” with Debt Management)
4.    Always choose a firm that addresses due dates, proper closing of accounts and performs a thorough analysis of the particular situation.
5.    Click here for common warning signs of what to avoid.
6.    Don’t wait for “Miracles” take action now! Doing nothing is costing money every month.
7.    Remember that if it sounds to good to be true it probably is.
8.    Be very wary of any firm that attempts to debit checking accounts or credit cards immediately.

If consumers follow these steps thousands of dollars in interest can be saved and maintained/improved credit can be acomplished. For more information on “Specialized Debt Management” visit and BBB review BBB Report and Trust Link

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Jim Young
Accelerated Debt Consolidation, Inc.
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