Success Stories

Drowning in Credit Card Debt

Are you living on ever increasing credit card debt
Running out of Credit on your cards.
Worried about where next months spending money will come from.
Having trouble paying your monthly bills.
Getting endless phone calls from creditors.
Your accounts are being turned over to debt collectors.
Sheriff at the door.

Don’t be embarrassed you’re not alone. Times are tough and many, many people face this type of crisis some time in their lives. When it happens it can seem overwhelming. But often, it can be overcome. Your financial situation doesn’t have to keep getting worse.

If you are in financial trouble here are some options to consider:

Counselling,
Debt consolidation,
Debt negotiation.

Which will work best for me you ask, well that depends upon your particular circumstances, your level of debt, your assets, how disciplined a person you are, your income potential and your prospects for the future.

Debt Relief

The first step toward taking control of your financial situation is to do a realistic assessment of how much money you make and how much money you spend.
Start by listing all your combined income.

Then, list your “fixed” expenses — those that repeat each month like mortgage payments, rent, car payments, electricity and gas, school fees rates and insurance premiums, food and groceries.

Next, list your variable expenses — like recreation and clothing, petrol, cigarettes, toiletries and holidays.

Writing down all your expenses, even those that seem insignificant, is a great way to track your spending patterns and separate necessary expenses from discretionary ones.

Then prioritise them.

The goal is to make sure you can pay the basics: housing, food and consumables, health care, insurance, travel and education.

Contacting Your Creditors:

This may seem a daunting task and many people are unable to do it having been relentlessly pursued for many months they are worn down and cannot continue without help.

Well help is at hand and the process is simple..The Simple Solution

Contacting your creditors as early as possible is important, if you’re having trouble making ends meet. They are people too and if they feel they are being ignored they get uncomfortable and take actions to relieve that discomfort. You do not want them to do this.

If they understand your problems, why it’s difficult for you, they will usually be willing to try and work out a plan with you, after all the alternative does not suit them either.

Don’t wait until your accounts have been turned over to a debt collector, at that point, your creditors have given up on you.
Dealing with creditors and Debt Collectors requires a special skill and Choice Debt Solutions has those skills having successfully negotiated resolutions for hundreds of people just like you.

Credit card debts are generally unsecured, i.e. not tied to an asset like your car, or your house and can be renegotiated without incurring a negative entry on your credit report.

Be wary of credit card debt solution organizations that:

Charge high up-front or monthly fees for enrolling you or
Pressure you to make “voluntary contributions,” another name for fees.
Won’t send you free information about the services they provide without requiring you to provide personal financial information
Demand that you make payments into a Debt Management Programme before your creditors have accepted your proposals.

With CDS you don’t pay a thing until we are successful in reducing your credit card debts, usually by between 40% to 60%.

If you’re thinking about getting help to stabilize your financial situation we encourage you to do some homework first. Find out what services our competitors provide, what success rate they have and what it costs.

Then contact us at “www.choicedebtsolutions.com.au”

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Ms. B. is a single mother with three children, getting very little, if any help from her former husband.
She has had difficulty making rent, and the credit card debt was mounting. Banks were constantly phoning and harassing her for money, and the mail was full of threatening letters. She was falling into deep depression and it looked like the family would be out on the street.

Fortunately for Ms. B., she had been paying too much tax over a number of years, and once discovered a sizable tax refund headed her way. With $30,000 worth of credit card debt and an $18,000 lump sum tax cheque, we were able to negotiate her debt down to $15,000, which was paid out and settled.
Ms. B. is now debt free, has torn up all her credit cards, has paid her rent 2 months in advance and has managed to find extra work to help ends meet.

Without the never-ending debt, spiralling out of control, Ms. B. now has a clean slate, a clean conscience and a fresh start!

Mr. & Mrs.M. are both well-paid professionals who have gone a little overboard in their spending lately. The latest technology in TV’s and computers, spending sprees on clothes, shoes and holidays that just had to be had “right now”, had lead this couple into all sorts of debt. They neglected their minimum payments on credit cards, and their mortgage payments were in arrears. They had accumulated nearly $80,000 worth of unsecured debt made up of credit cards and personal loans. Fortunately they had a reasonable amount of equity in their home, so they decided to refinance the home loan and borrow extra money to pay out these debts.

CDS was able to negotiate their debt from $80,000 down to $48,000 which was paid out at the refinance settlement. They have agreed to see a counsellor about their spending, and are now living with their means, making sensible decisions about their spending.

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