| Debt elimination is a process that can include 3
different procedures. Debt Consolidation as one type of debt
elimination, accompanied by proper money management is only one way to
get and stay out of debt. Another process of debt
elimination is called Debt Settlement. Yet a third, and less
known, is called true Debt Elimination where you make the debt go away,
totally. This site provides information about the process of how
to perform debt elimination - consolidate debt, settle debt and
eliminate debt, including perspectives, articles, advice and recommended
companies that can help.
If you're feeling overwhelmed about your debt, you're not alone.
We help with our credit card debt
help information and advice. Did you know that...
- Over 40% of American families spend more
money than they earn.
- The average American household has nearly $10,000 in credit
card debt.
Debt Consolidation
Debt Elimination
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Debt Settlement
Debt Elimination
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| Involves combining multiple,
high-interest loans (debt) into a single monthly payment on a lower
interest rate.
Consolidating allows the consumer to pay down more principle
each month, often lowers monthly payments, and allows the balance of
the debts to be cleared faster. |
Involves using a third party to
work directly with your creditors to reduce penalties, interest
charges and sometimes a percentage of the debt accrued.
A debt management company will often
use a combination of both consolidation and settlement solutions.
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Debt Elimination
Debt Elimination
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| Debt Elimination
involves using a third party for assistance where you contact your
creditors directly through well placed letters following existing
law as a guide. Essentially this process calls the bank on
it's contract, or lack there-of. Because of the banking system
under the Federal Reserve, the bank never actually gives you a loan
and thereby cannot show true consideration which is an essential
part of a contract's validity. After several legal procedures,
the bank is fined in administrative court, and a settlement is made
where your debt is paid off, and any overage is yours to keep. |
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