Income loss is at an all-time high.
That would be stressful enough, but what makes the situation even worse is banks are slashing credit limits and tightening credit standards due to economic uncertainty and low-risk tolerance, oftentimes without notice.
People are more likely to use a greater percentage of their available credit each month, when dealing with the loss of steady income, and are maxing out their credit cards much faster, which can have a negative effect on their credit score in the long run due to an increase in your debt-to-limit ratio.
As a result, lenders may increase your APR, even if you continue to pay your balance every month and never exceed your limit. If you've racked up some debt over the years, these recent changes can seem detrimental. But if this is the case for you, don't worry, there are options.
Pacific Debt is a debt settlement service that works on your behalf to secure you a lower total amount owed, resulting in one low program payment. There are no fees for their service unless they are successful in reducing your debt.
The whole process is super simple from start to finish. You start off by filling out a quick questionnaire about your financial history - The minimum amount of unsecured debt required to qualify is $10,000. If you are eligible, you'll have a one-on-one consultation with a debt specialist by phone.
The debt specialist will break down all of your options. If debt relief through Pacific Debt is right for you, they'll explain the process - including how they negotiate with your creditors to reduce your debt and structure the program to fit within your budget. They'll give you a low down on the different plans they offer, and you get to decide what's best for you.
You will be assigned a Personal Account Manager, who will guide you through the process, and they'll be there with you every step of the way. Founded in 2002, PDI has years of experience, and they know what they're doing. They'll analyze your budget to determine a monthly amount that's affordable for you so that you are set up for success. Then, once they secure a reduced settlement amount, they'll get the deal in writing and get your authorization to proceed.
Pacific Debt can significantly reduce your total amount owed and will make sure you are only paying one set amount instead of multiple payments every month. You don't pay Pacific Debt any fees until your debts are negotiated to your liking. Pacific Debt doesn't just reduce interest rates; they reduce the amount you owe overall.
These times are tough for most people financially, especially if the credit limit reduction has affected you. No matter what your situation is, if you're in debt, Pacific Debt offers free consultations, and they'll answer all your questions, judgment-free. Why not give them a call? You have nothing to lose.