Financial Security Group
Dealing with financial instability is a major stress for millions of Americans. Unemployment, reduction in income and loss of investment are just a few reasons why many find themselves struggling with unwanted debt. We can help you find a solution.
We Can Help You Get Back on Track!
Financial Security Group connects consumers with national law firms who offer a wide range of programs to assist consumers struggling with their finances. A team of experienced financial counselors will work with you to assess your financial situation and explain all possible options to help you get out debt and move on with your life.
The law firms are committed to providing the highest degree of quality and ethical standards to clients while enrolled in any debt resolution or debt management plan and will adjust to the changing circumstances of their lives if needed. The goal is to ensure that a client is never without a viable option to resolve their debt.
What you need to know about your current situation
Credit card minimum payments are either calculated as a percentage of the total current balance (usually between two to five percent) or interest plus one percent of the principal balance. As you pay minimum payments, your principal balance will reduce, however due to compound interest, if you pay only the minimum, the time frame to pay the debt in full can go into decades.
With typical credit card APR’s, the minimum payment generally goes towards meeting the monthly finance charges and very little towards the principal balance. Even responsible users of credit can fall into the trap of treating the minimum payment as nothing more than a monthly bill, and budget towards being able to simply pay the “minimum”. Ideally, paying off the balance in full each month is the proper way to handle credit card debt, however for many consumers, especially those who have been beset by hardship, this is not a viable option.
We can help you with:
Comments on this entry are closed.