Ask most people what is on the top of their minds and they will tell you it's how to reduce debt fast. Today's economic climate has made it even more clear that far too many Americans have over extended themselves financially, without any planning for the possibility of a recession. Truthfully, who ever expected a recession?! If nothing else, we have learned that we need to be more aware of our financial situation and to better manage our finances!
New companies have come online to help accomplish this goal without stress and without significant sacrifice. These debt reduction programs restructure the way total debt is repaid to stabilize and maximize financial security.
Let's say, for example, the monthly payment for your entire debt obligation is $2000. Programs like PriorityPay Plus electronically debit your bank account for half that amount every two weeks. Seems like no big deal right?
Because there are two additional debits each year (26 when only 24 are needed for your payments), one additional payment of $2000 is generated. These “extra” funds are applied against your highest interest debt. Then, once that debt is paid off, its monthly payment is then applied to the next debt in your line-up, along with the principal payments, until that debt is satisfied. This continues until all your debt is gone, which can be as much as 20 years sooner, without changing your monthly expenditure!
It's a smart and automatic way to ensure that you effectively reduce your debt; providing discipline, structure, timely payments and significant savings.
Don't just throw some money at random bills thinking "someday" you will pay them off. Take specific action now so you will be in a better position to weather another "financial" storm. And if we're lucky enough to not have a bad one, then you'll be "home free!"