by First Rate Debt Solutions
8. January 2009 11:49
This is the time of year that everyone tries to make a fresh start. Renew your goals and make your resolutions. What will 2009 hold for you? Do you want to lose weight, quit smoking, exercise more, or maybe get out of debt?
Last year, TransUnion's TrueCredit.com commissioned GfK Roper Public Affairs & Media to assess Americans' thoughts about their finances at the turn of the New Year. The survey found that in 2007, one if four (25%) of all Americans missed making one or more on-time bill payments, with the bulk of those delinquencies occurring on Utilities (12%), Credit Cards (12%) and Medical Services (11%). Meanwhile, only 17 percent chose paying down debt as their top resolution for 2008, down notably from 22 percent in the previous year's survey.
Will all that change for 2009 or will it get even worse? Americans don't want to be in debt but many don't have a choice. With the economy in a slump and unemployment on the rise, millions of Americans have seen their debt grow so much over the last year that paying it off seems "impossible". As the economy continues to struggle and people are forced to pay more for food, gas, and rent, folks are finding it harder and harder to make ends meet. That's when they turn to their credit cards to start to bridge the gap between expenses and income. This only makes the situation worse as the minimum payments increase with higher balances making it impossible to do more than make the minimum payments each month.
You can break this cycle and get your financial house in order and now is the time! Debt settlement or debt negotiation is the answer for those who are struggling with debt and see no way out. If 2009 is your year to get our of debt, then First Rate Debt Solutions is here to help.
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