Each summer Americans take pride in celebrating the
"The stress of unmanageable debt has destroyed marriages, shattered families and contributed to lost jobs," said
Aside from the personal problems associated with debt, consider the following financial reasons to take action and begin to resolve your debt issue now:
• A blemished pay history reflecting late or missed payments tarnishes a person's credit report which could result in a lower credit score;
• A low credit score often equals a higher interest rate when borrowing money, making the cost of credit more expensive;
• A tarnished credit record could diminish access to additional credit needed for emergencies or unplanned expenses;
• With an unrealistic amount of money earmarked for debt repayment, saving investing is often neglected, and
• Planning for future needs such as college or retirement is often delayed due to a lack of money.
People may mistakenly think they are responsibly managing debt by making the minimum payments due on time every month. They don't bother to calculate how long it will take them to become debt free, or how much they will have paid in interest. Consider the following example:
There is a way out from under the oppressive weight of debt. NFCC Certified Counselors help millions of people each year overcome financial challenges and find the financial stability they seek. To be automatically connected to the NFCC member agency closest to you, dial (800) 388-2227, or find an agency online by visiting http://www.NFCC.org. Ask about the Sharpen Your Financial Focus™ program which includes financial diagnostic tools, workshops and one-on-one sessions with financial professionals, putting you on the path toward a debt-free lifestyle.
Read the full story at http://www.prweb.com/releases/2014/07/prweb11989243.htm
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