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Do Nothing About Consumer Debt? Do Nothing About Consumer Debt?

Doing nothing about consumer debt can actually have a couple of meanings. Doing nothing can mean that the consumer is just going keep paying the minimum payments due on credit cards and other debts, never really making a dent in the principle amount.

 

Statistics show that a consumer paying only the minimums on each monthly payment will take approximately 28 years to pay off a balance in full. By that time the interest charges alone would be many times the balance owed.

Falling behind in, and then just stopping payments altogether on credit cards would qualify as the other “do nothing” option. This method, often equated with putting one’s head in the sand and waiting for things to go away never quite works out that way. Collector’s calls, even with caller ID, are an extremely unpleasant experience. The charge-offs and dings on the credit report hang around for years and the credit balances never go away. There are much better options than doing nothing. Apply Online today and talk to a specialist at 800 Debt Settle to learn how you can take charge of your finances    

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