15 Simple Debt Elimination Steps You Must Start Today!
by: Vincent Dail
What Everybody Needs To Know...Learn The Truth About Debt Elimination!
Debt Elimination tips shows how Millions of Americans are living on the edge of financial disaster surviving only on the hope of next week's paycheck. The average American is dying under a load of debt, with little or nothing building in the bank or in investments.
Here`s how we have been taught to charge, charge, charge and promised Easy monthly payments by advertisers who seduce us into debt. So its no accident that the credit, finance and loan companies end up with most of our money, while we end up with all of the bills.
Debt Elimination Tips, shows how we've been misled!
See for the first time how the entire way our economy works, is designed to make you work yourself to exhaustion--simply to accumulate wealth for the companies you do business with--Not For You.
The most staggering example of this is a home mortgage. Say you bought a home with a 30-year conventional or adjustable rate mortgage, you will pay for that loan about THREE TIMES. Just multiply out your payment times 360 months and you will see that the total is about 3 times the value of the money you borrowed.
Say you buy a $250,000 home, with a $200,000 mortgage; you will end up paying about $600,000 over 30 years. This means that you will pay nearly $400,000 dollars in interest! Just for the privilege of using their $200,000.
That means that two-thirds of that total is interest. Interest is the profit the Mortgage Company makes for lending you the money to buy the house. And they feel that you should pay them back THREE TIMES. That's 200% interest!
Debt elimination tips -- Now let these words soak into your mind and heart: You will have to work...week after week...year after year...to earn FOUR HUNDRED THOUSAND DOLLARS---Just so you can give it to the bank to make them rich!
Debt Elimination Tips, Show's how bad it really is to use credit cards and to make only the minimum payments!
Suppose you bought $2,000 worth of furniture on a typical (19.8% interest with a $40 annual fee) credit card, and you paid only the minimum monthly payments requested by the credit card company (here's why they only ask for a minimum payment), it will take you 31 years and 2 months to pay it off.
Plus--In addition to the original $2,000 cost of the furniture-- you would have paid $8,202 in interest,(if you make the minimum payments) just for the privilege of using their $2,000! That's five times the furniture's value! Long after you had thrown the furniture out, you would be draining your wealth away paying for it.
Banks, finance, creditors and credit card companies have encouraged indebtedness.
According to a study by the United States Department of Health and Human Services, 96% of Americans never achieve financial independence. They end up depending on charity, family, government welfare or they're forced to keep working just to survive!
Debt Elimination Tips, Why turn your hard-earned money over to the credit card companies? When you don't have too. Follow a proven debt elimination plan!
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15 Simple Debt Elimination Steps You Must Start Today!
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About The Author
Vincent Dail
Credit Repair Specialist is run by Vincent Dail. They review and then list some of the best credit repair and debt elimination programs available.
credit-repair-specialist.com
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