As a result of the economic recession and climbing APRs, many families cannot pay even the minimum payment on their credit card each month, and the number of delinquent credit card accounts are now on the rise
Worcester, MA (PRWEB) July 31, 2009
Getting a credit card is now easier than ever, and with the credit companies enticing potential credit card holders by offering initial low interest rates and free perks, having a credit card has become the norm for many Americans. Without budgeting advice (http://www.burdenfreeinc.com/budget_advice.html), however, these individuals are on a path of destruction. Those who only pay the minimum payment each month will end up paying thousands of dollars in interest over the years it takes them to pay off their entire credit card balance. This situation has lead to an increase in unpaid debt and many are now worried about staying on top of their household debt, which is an average of over $10,000 per household.
In response to the struggling American economy, credit card companies are raising their Annual Percentage Rates (APRs) in order to protect themselves. The national average APR is now over 12%, while credit cards for those with bad credit soared to an average of over 14%. This has become a problem for many Americans. "As a result of the economic recession and climbing APRs, many families cannot pay even the minimum payment on their credit card each month, and the number of delinquent credit card accounts are now on the rise," Robert Farese, Manager of Burden Free, Inc. said. "Our organization's website has seen a definite increase in the number of potential clients contacting us and wanting to know more about the debt settlement services we provide."
Professional credit card debt negotiation may help some consumers cut their debt down as much as 50% of what they originally owe. "Burden Free will work with our new clients' creditors in order to attempt to come up with a solution," Farese said. "An experienced advisor will help create a monthly budget which can help you get back on track and negotiate what you owe when funds become available for a settlement." Credit card debt settlement services from an organization such as Burden Free, Inc. are considered an alternative to debt consolidation.
About Burden Free, Inc.
Burden Free, Inc. specializes in credit card debt negotiation, and debt settlement. Advisors work for their clients by negotiating with creditors in an attempt to lower debt and monthly payments. As members of the United States Organization for Bankruptcy Alternatives, Burden Free, Inc. is dedicated to providing a high standard in the area of debt settlement. BurdenFreeInc.com was established to reach out and educate customers who want to get out of debt. Visit BurdenFreeInc.com for more valuable information.