Credit & Debt Consulting
What brought you to our Credit and Debt Consulting page today? Are you living paycheck to paycheck and want to jump off the hamster wheel? Are you having trouble keeping up with your debt payments and seeking a long-term solution to your stress?
Whatever brought you here, take a moment to consider a few facts:
- The average age at which a U.S. consumer under the age of 35 first adopted a credit card is 20.8 years. The average age of credit card adoption for a consumer over the age of 65 is 40.6 years. (Source: "The 2008 Survey of Consumer Payment Choice," Federal Reserve Bank of Boston)
- Average APR on credit card with a balance on it: 13.10 percent, as of May 2011 (Source: Federal Reserve's G.19 report on consumer credit, released July 2011)
- Making minimum monthly payments on a $5,000 credit card debt at 14 percent APR would take you 22 years to pay off. You’d pay over $5,887 in interest - so $10,887 in total. The same debt could be paid off in 6 years by increasing your monthly payment to $125 - and you’d save over $4,000 in interest.
- 76 percent of undergraduates have credit cards, and the average undergrad has $2,200 in credit card debt. Additionally, on average, they will accumulate almost $20,000 in student debt. (Source: Nellie Mae, "Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends")
If you count yourself among the ranks of those with increasing credit and debt burdens, do you have a plan? A problem ignored is a problem multiplied. Contact us today to schedule a free initial consultation. We’ll take the time to thoroughly evaluate your personal circumstances – income, assets, revolving debts, etc. At the conclusion of this free initial consultation we’ll explain next steps. Should you choose to partner with us to achieve your goals the cost of all services will be disclosed in advance and in writing, and we will never charge a penny more for an individual service than what was initially quoted.